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 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

Applicable for

Although this seminar benefits most tax professionals, the content specifically targets practitioners and accounting professionals involved with groups of privately held companies.

Learning Objectives

By the end of this course, participants should be able to:

· Explain 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.

Seminar Leader: Mike Harris

What to Expect

· This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment.

· This seminar will not be recorded.

· Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.

· Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected]

CPA Manitoba PD Terms and Conditions