Groups urge feds to launch a formal review of the Income Tax Act
Many businesses remain shut out of tax break on increased capital gains inclusion rate
Clarifications concerning the capital dividend account are welcomed by tax practitioners
A company could face 60% tax on unintentional payout of excess amounts from its capital dividend account
Federal government passed new rules and incentives for EOTs in June
Year-over-year insolvency levels have been rising for more than two years
Incorporated professionals must consider deferral, dividends and deductions
Business owners should compare EOTs with other exit options
Consumer insolvencies also increased in January, but not nearly as sharply
Surge reflects struggle with pandemic debt, higher interest rates