Certificate Course

Year End Tax Planning for Corporate-Owner Managers


DMA™ - Corporate Tax Services Specialist


This course has been designed to teach you how to advise private business owners and managers about the best ways to manage his or her compensation to maximize the amount of after-tax income available. You will gain a solid understanding of the options available when constructing compensation packages. These options include salary-dividend-bonus mixes that maximize tax efficiencies for the owner and each family member. As well you'll learn about constraints imposed by income tax and other laws so you can provide sound advice to the employer or client on compensation planning all year long.


Course Content

Chapter 1 – The Taxation of Business Income
Chapter 2 – Understanding Family Compensation Requirements
Chapter 3 – Income Tax Treatment of Benefits, Salary & Bonuses
Chapter 4 – Basic Issues in Using a Holding Company or Trust
Chapter 5 – Cross Border Issues Owning and Selling Property in the U.S.
Chapter 6 – Planning with Self-funded, Tax-Advantaged Sources
Chapter 7 – Tax on Split Income (TOSI)


Learn to define the components of compensation, which include salary, dividends, and bonuses, their tax attributes and the opportunities and/or constraints imposed by the Income Tax Act. New tax legislation has creative “new realities” for owners of private corporations (originally announced on July 18, 2017) and they have added considerable complexity to the tax component of this process. In addition, you will acquire the knowledge and skills required to provide advice throughout the year with a view to minimizing the total amount of income taxes paid by the family. You will also apply recent personal/corporate tax changes to the family’s best benefit using true-to-life case studies. This newly updated course will explain how and provide the experience and credentials to better manage owner-manager compensation.

Why You Should Attend

On June 6, 2018, the government passed Bill C-74, Budget Implementation Act, 2018, No. 1. Within this legislation, effective retroactively to January 1, 2018, are significant revisions to what was previously known as the “kiddie tax”. This new expanded regime, known as tax on split income or “TOSI” will have major impacts on the taxation of family units with respect to income earned from Canadian controlled private corporations “CCPCs”. Advisors will need to understand these rules as current structures may need to be amended to take into account the new regime and prior income sprinkling strategies may no longer work.
In addition, investment strategies may also need to be revised because of the clawback of the small business deduction when passive investment income exceeds $50,000.
Advisors who do not understand these rules may very well cause harm to the clients. This would result in loss of reputation and possibly a loss of clients. As such, it is imperative that advisors become familiar with these new rules as soon as possible.

What You'll Learn

The student will:
• Have a thorough understanding of recent income tax changes regarding the taxation of dividends, salary, taxable and tax-free benefits, retirement investment planning opportunities, and deferred compensation programs in the corporation and for the owner and family members on their personal tax returns. A basic understanding of family income splitting benefits, opportunities and obstacles.
• How to split corporate income out to family members using salaries & benefits, dividends, family trusts and holding companies.
• How to structure deferred income plans, including registered and non-registered pension plans, registered retirement savings plans, TFSA planning, deferred profit sharing plans, retirement compensation arrangements and salary deferral arrangements.

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