Canada: Year-end tax considerations for company owners, managers
Important tax issues company owners and managers may want to consider in assessing their 2022 tax situation
Tax issues companies may want to consider in assessing their 2022 tax situation
For the owner or manager of a company, the end of the year marks a good time to take stock of the tax situation. A careful review can help confirm that individuals are receiving distributions from their companies in a tax-efficient manner, and that companies are meeting their small business tax obligations.
The federal government introduced several new and complex tax rules this year, such as the new mandatory disclosure rules and the new excessive interest and financing expenses limitation (EIFEL) rules. Even though these rules have not yet been enacted, now is a good time to consider whether and how they might apply.
Read a November 2022 report [PDF 309 KB] prepared by the KPMG member firm in Canada that outlines important tax issues company owners and managers may want to consider in assessing their 2022 tax situation.
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