The TOSI Maze – Sponsored by Jeffrey Gregory
The TOSI Maze Sponsored by Jeffrey Gregory Of Desjardins Financial Security Investments Inc.
An interactive online zoom call on Tuesday September 13, 2022 at 7:00PM
In Canada, taxpayers are taxed at a marginal rate. In general, the higher the income, the higher the tax rate. Accordingly, the motivation to redirect (split) income to another person, in the hopes of lowering the respective tax rate, is common. Canada Revenue Agency works to thwart such efforts with the tax on split income (“TOSI”) rules, starting with subsection 120.4(1) of the Income Tax Act.
The current incarnation of the TOSI legislation is comprehensive and further restricts income splitting methods by Canadian taxpayers. The rules target adults as well and contain precise definitions of source and specified individuals which are used to link entities such as private corporations, partnerships, trusts and the respective transfer of income.
In this presentation, we will explore what TOSI is and how it impacts attribution!
Join us for an evening that will be informative, provide personal development and we will have some fun social interactions.
Akash Lakhotia, CPA, CA
Akash started his journey as a CPA, CA in public accounting firm in Toronto and has since worked in companies like BDO, Toby & Jain and currently working as Tax Manager at Prasad & Company LLP. In his 8 years of providing accounting and tax services to small and medium business, Akash has gained insights on the complexities and practical tax issues faced by the business owners and provided solutions to help them focus on their business. Akash is also pursuing the In-Depth Tax Course by CPA Canada to enable him to handle complex tax issues for the clients.
Akash specializes in tax and have helped clients with corporate structuring, estate freeze, post-mortem planning, mergers and acquisitions, loss utilization strategies and many more tax planning tools to help optimizing the taxes.
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