Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This seminar covers the unique taxation issues that apply to groups of privately held companies and their access to the small business deduction. It will outline the significant changes made in the past few years, including a detailed review of the association rules, reductions of the small business deduction limit, specified partnership income, specified corporate income rules for income streams, basic considerations for intercorporate dividends, and the impact of trusts in the corporate group. Mini cases and review questions will be used to highlight these concepts.
This course includes a thorough and detailed discussion of association issues from basic to advanced issues.
This seminar does not include a review of Section 55, Safe Income or GST/HST as additional courses on these topics are available.
This course includes a significant time spent on in class exercises and cases.
Topics Include:
- The SBD - requirements and basic rules
- SBD limit reductions - taxable capital and passive income
- Basic related, association and affiliated rules and their impacts, including deemed association
- The impact of partnerships in the group, including specified partnership income rules
- Specified corporate income rules
- Part IV tax between private corporations
- Use of trusts in the group
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Unlock learning anytime, anywhere with the Blackboard Learn app
Seamlessly access your on demand courses, assignments, and get PD hours on the go. Learn how to download now and elevate your education experience with the convenience of mobile learning.
Key Takeaways
By the end of this course, participants will be able to:
- Describe the basic types of relationships between corporations in the Income Tax Act
- (ITA)
- Apply the related and associated corporation rules in the ITA to private corporate group structures
- Identify situations where the specified partnership income and specified corporate income rules will apply
- Evaluate the impact of taxable capital and investment income on the available small business deduction
Who Will Benefit
Although this seminar benefits most tax professionals, the content specifically targets practitioners and accounting professionals involved with groups of privately held companies.
Prequisite Knowledge
Participants should be familiar with existing tax rules in the ITA.
How to Access the Course
New mobile learning! Download Blackboard Learn from your app store (iOS or Android). Learn more.
To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.