Tax on Split Income - Effective January 2018
On December 13, 2017 the government released the proposal of TOSI, "Tax on Split Income." The new rules were passed into law on June 21, 2018, with only a few minor changes to the proposals made back in December, and were effective as of January 1, 2018.
The objective of this new rule is to eliminate the tax benefits for the recipients of income who do not make a sufficient contribution to the business. However, there are some exclusions. Click the link to fiind out more.