An opportunity exists for small business owners with children who have reached the age of majority to take advantage of the income-splitting opportunities available through a discretionary family trust. This bulletin outlines the general income tax principles of income splitting and corporation income tax, and the potential tax benefits available.
Please see our latest Tax Bulletin for a discussion of this topic.
This Tax Bulletin is the last of of four Tax Bulletins that discuss the life cycle of a business. View our Previous Bulletins.