Posted by & filed under Accounting Principles, Personal Tax.

Description: Doctors are warning that specialists may flee this country for the United States in the face of changing Canadian tax regulations. Canada’s March 2016 budget promised changes that would block certain partnerships and corporations from accessing the small business tax rate. Physicians initially thought that the government had simply swept their group up into the changes due to an oversight. But repeated appeals to Finance Minister Bill Morneau have not resulted in changes.

Date: December 1, 2016;

Source: theglobeandmail.com

Link: http://www.theglobeandmail.com/news/politics/doctors-warn-thousands-could-leave-for-us-over-new-federal-tax-hikes/article33118694/

Discussion Points:

1) Do you think that tax changes will drive Canadian specialists to relocate to the United States? What other factors might influence a decision to move?

2) How does a partnership divide its income between members?

3)  If you were an advisor to the Minister of Finance, what would be some relevant factors you would bring to his attention to assist in his decision?

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