CPR trainer Posted December 1, 2015 Report Share Posted December 1, 2015 Now this is concerning!!! Far worse than influx of foreign trained dentists. http://www.theglobeandmail.com/report-on-business/small-business/sb-money/doctors-lawyers-concerned-about-small-business-tax-changes/article27480893/ Link to comment Share on other sites More sharing options...
cleanup Posted December 3, 2015 Report Share Posted December 3, 2015 I was talking about this long before the election. I like Trudeau. He's charismatic, socially progressive, a strong leader. But he won on a social media campaign. I'd argue 80% of my class voted for him, without understanding his economic platform. Unfortunately social progressiveness coupled with economic conservatism isn't a common combination. Link to comment Share on other sites More sharing options...
Ostracized Posted December 3, 2015 Report Share Posted December 3, 2015 I'm not too concerned about this. Even if they cut the small business tax credit down to $250,000 (from $500,000) - how many new dentists are even going to be making that much? Link to comment Share on other sites More sharing options...
Dannny Posted December 3, 2015 Report Share Posted December 3, 2015 I'm not too concerned about this. Even if they cut the small business tax credit down to $250,000 (from $500,000) - how many new dentists are even going to be making that much? That's very short sighted. Link to comment Share on other sites More sharing options...
Ostracized Posted December 4, 2015 Report Share Posted December 4, 2015 That's very short sighted. I don't see myself ever making more than $250,000 net. I'd be pleasantly surprised if I do. Link to comment Share on other sites More sharing options...
Dannny Posted December 4, 2015 Report Share Posted December 4, 2015 I don't see myself ever making more than $250,000 net. I'd be pleasantly surprised if I do. Just because you, a new graduate practicing in one of the most saturated areas in Canada, don't see it happening, doesn't mean it isn't happening elsewhere... Right? Link to comment Share on other sites More sharing options...
z3u2 Posted December 7, 2015 Report Share Posted December 7, 2015 I don't see myself ever making more than $250,000 net. I'd be pleasantly surprised if I do. where did you get the number of $250k? I don't think you are understanding what the article is saying. There isn't a set number. You could get a hit if you are incorporated. Let's say if your net income per year is $150K, your spouse makes $0. You can income split and give $75k to her and keep $75K to yourself so you are both in the (significantly) lower tax bracket. The argument here is they are trying to remove this income splitting feature. Link to comment Share on other sites More sharing options...
Ostracized Posted December 8, 2015 Report Share Posted December 8, 2015 The article mentioned lowering the income limit for the small business tax deduction. I don't really know how they could outlaw income splitting in that manner - unless they ruled that professional corps could only have one shareholder. Link to comment Share on other sites More sharing options...
z3u2 Posted December 8, 2015 Report Share Posted December 8, 2015 The article mentioned lowering the income limit for the small business tax deduction. I don't really know how they could outlaw income splitting in that manner - unless they ruled that professional corps could only have one shareholder. I've read somewhere else prior to the election that they would not allow income split for corporations with only one employee (essentially yourself). the article above also mentions quebec already restricts lower tax on corp with less than four full time employees... Link to comment Share on other sites More sharing options...
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