The Treasury is busy preparing rules about income shifting that are likely to cut into our income and make it more difficult for us to run our family businesses. Have you given it all any thought, and what are you planning to do?
The rules themselves are badly drafted and vague, which just makes it all that much harder for us all. We are expected to try to figure out exactly what the roles we play in our businesses are worth in the marketplace.
In most family businesses, everyone does a little bit of everything, Is that how you run yours? Does your spouse answer the phone for you? Are you prepared to tell your spouses what they are worth?
What you are doing about income shifting, and what should we all do about it?
Published: Monday, January 21, 2008
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