Advisor.ca - Daily News: "New tax strategies for medical professionals
February 28, 2006 | Kate McCaffery
Doctors and dentists in Ontario have a relatively new option at their disposal for income splitting and other tax planning strategies.
At the end of 2005, the Government of Ontario expanded ownership rules for doctor and dentists' professional corporations that give those clients the right to issue non-voting shares of the corporation to family members. Although this kind of income splitting is one of the main benefits of incorporation, when the government first allowed Ontario professionals to incorporate back in 2002, they included rules that said shares of a professional corporation could only be owned by the professional.
Other professionals, including lawyers and accountants, are not covered by the changes. "
No comments:
Post a Comment