Tax planning: 2022 year-end considerations for businesses and individuals
E-BOOK | October 31, 2022
Authored by RSM Canada
RSM Canada’s 2022 year-end tax guide summarizes the key federal, provincial and territorial tax updates that may create risk or opportunity for middle market taxpayers in 2022 and beyond.
Tax trends and topics discussed as the Canadian economy moves into 2023 include:
- The excessive interest and financing expenses limitation (EIFEL) regime
- Substantive Canadian-controlled private corporations
- Updated foreign affiliate reporting and other international tax considerations
- New mandatory disclosure rules
As year-end approaches, companies and individuals alike must carefully consider tax planning opportunities in light of economic uncertainty and evolving tax legislation and regulations. Learn more in our year-end planner.
Federal/provincial tax ratesFederal/provincial tax rates
Federal and provincial tax rates, limits and phase-outs directly affect your business and personal tax planning strategies. Keep our provincial rate cards handy to ensure you are using the most up-to-date information when making financial decisions.
Canadian tax integration on private company Income
Tax integration is achieved when a particular stream of income is subject to the same or similar total tax rate once it reaches the individual taxpayer level. These tables provide an illustration of how the Canadian income tax integration system works.
Source: RSM Canada
Used with permission as a member of RSM Canada Alliance
The information contained herein is general in nature and based on authorities that are subject to change. RSM Canada guarantees neither the accuracy nor completeness of any information and is not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. RSM Canada assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect information contained herein. This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations. This analysis is not tax advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.
RSM Canada Alliance provides its members with access to resources of RSM Canada Operations ULC, RSM Canada LLP and certain of their affiliates (“RSM Canada”). RSM Canada Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM Canada. RSM Canada LLP is the Canadian member firm of RSM International, a global network of independent audit, tax and consulting firms. Members of RSM Canada Alliance have access to RSM International resources through RSM Canada but are not member firms of RSM International. Visit rsmcanada.com/aboutus for more information regarding RSM Canada and RSM International. The RSM trademark is used under license by RSM Canada. RSM Canada Alliance products and services are proprietary to RSM Canada.