On July 18, 2017, the Department of Finance released a consultation paper, along with explanatory notes and draft legislation, proposing a number of tax changes that were aimed at private corporations. The changes were intended to remove the perceived unfair tax advantages available to owners of private corporations. Finance provided a consultation period and requested comments on their proposals by October 2, 2017. Following a review of the submissions received during the consultation period, Finance announced a number of changes to the original proposals, some of which they will not proceed with. Click here to review our detailed report.