Episode 035 – Impact of August 4th Proposed Amendment to the Alternative Minimum Tax Regime (AMT)

TaxBreaks

In our firm’s latest podcast, Kenneth Keung and Kim G C Moody briefly discuss the 2023 Federal Budget proposals to amend the alternative minimum tax regime under Canadian tax law. Specifically, Kenneth and Kim discuss:

• The history of the AMT;
• The architecture of the AMT;
• The 2021 Liberal Party election policy platform promise to introduce a “15% minimum tax;
• The 2022 Federal Budget update on election policy promise;
• The 2023 Federal Budget proposals;
• The release of the draft legislation for the AMT amendments on August 4, 2023;
• The impact of the AMT proposals on charitable giving, capitals gains and trusts; and
• What should Canadian taxpayers and their advisors do about these proposals?

Happy listening!