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Chapter PD: Farm Tax Update & Hot Tax Strategies
February 28, 2015 @ 8:00 am - 1:00 pm$30 - $55
Join us for a Full Buffet Breakfast and a great February Chapter PD Event!
Boughton Law speakers Bill Cooper and Moon Mah will present informative insight on the Taxation of Farm Transfers and Hot Tax Strategies.
|Farm Tax Update|
|Date:||Saturday, February 28, 2015|
|Where:||Ramada Plaza Abbotsford Hotel & Conference Centre, 36035 North Parallel Road, Abbotsford, BC|
|Time:||8:00 am – 1:00 pm; Registration & Breakfast– 8:00 am – 8:30 am ; Session 1: The Taxation of Farm Transfers – 8:30 am – 10:30 am & Session 2: Hot Tax Strategies and Deadly Traps – 10:45 am – 12:45 pm|
|Meals:||Full Breakfast Buffet Included|
|Speakers:||Bill Cooper and Moon Mah, Boughton Law|
|Cost:||$30.00 per session or $55.00 for both sessions + GST|
|CPD:||2 Hours per session|
Canadians have long recognized the importance of our farming industry and the need to permit family farms to remain intact from one generation to the next. In recognition of this concern, the Department of Finance has added provisions to the Income Tax Act to provide certain tax deferrals and exemptions for farmers, and more recently fishermen, which are designed to lessen the impact of income taxes on a transition of the family farm.
This session will review some of these important rules and provide an overview of some valuable tips and some important traps where farm property is being transitioned to the next generation or being broken up for conversion to a real estate development.
Bring your ideas and your own situations and get ready to have a good discussion of this important area of Tax Law.
This session is a potpourri of tax topics that covers some of the current and more interesting tax strategies and issues that we have come across in our practice.
These thought-provoking topics include:
- Tax effective Leveraged Buy Outs – Meeting the Test for Interest Deductibility
- The FLA – Who owns what now – The 24 Month Common Law Test?
- The WESA – Big Rule Changes for Intestacies
- Joint Tenancies – Do they Avoid Estate Duties?
- US Residency Rules – Are you an Accidental US Resident?
- Electronic Funds Transfer Initiative – Big Brother is Watching
- Hybrid Business Sales – Selling Assets and Cashing in on the CGE
- Converting Dividends to Capital Gains to save 7% or more
- Converting Equity to Tax Deductible Debt
- Personal Services Businesses Trap
- Eligible Dividend Notification Trap