Helping your business clients navigate the Tax on Split Income (TOSI) rules can be complicated. Using examples, this on-demand program discusses the 2017 amendments to TOSI rules and implications for clients and their legal advisers. It will also address ways that entrepreneurs can distribute profits and remain compliant with the Income Tax Act. This on-demand program was originally broadcasted as a live webinar on May 15, 2024. Total running time is 1 hour, 5 minutes.

This paper addresses how to properly arrange affairs to allow for successful claiming of the eligible dependent tax credit [EDTC]. It also provides advice for structuring separation agreements to maximize the potential available under the EDTC. The paper provides a brief fact pattern illustrating what a successfully structured EDTC looks like. Then, it sets out the limits of the EDTC, the requirements for it to succeed, and how the deduction functions. There is also a brief discussion on the family law implications of this process. Recent developments in the jurisprudence are also highlighted. This paper is part of a collection presented at LESA’s Family Law During Recessionary Times program in Calgary on October 4, 2017 and in Edmonton on October 11, 2017.