TAX ALERT – Government Simplifies Measures to Rein in Income Sprinkling

Article contributed by BDO Canada LLP

On December 13, the federal government released legislation to simplify restrictions on income sprinkling, proposed to go into effect January 1, 2018. These revisions indicate they have listened to feedback during the consultation period, by providing more certainty to taxpayers through the introduction of “bright-line” tests to automatically exclude some family members, and allow income sprinkling for those members who make sufficient contributions to the business.

Click here to read the complete summary of what the revised legislation contains.

Locally, your BDO partners focused on the real estate and construction sector include:
North Okanagan: David Nardi, 250.545.2136 or dnardi@bdo.ca.  
Central or South Okanagan: Britt Vig or Alan Sanderson at bvig@bdo.ca or asanderson@bdo.ca or at 250.763.6700

The information in this publication is current as of December 13, 2017.

 

BCGov_News_SICAWebBanner(1).png
September 04, 2024

BC Government Releases Standardized Housing Designs
Update for Members: Government Releases Standardized Housing Designs. The government has introduced a new set of standardized designs for small-scale, multi-unit housing. These designs aim to simplify planning and reduce costs for construction projects.
Read More
IndustryAlert_BCCA_SicaWeb.png
June 18, 2024

BCCA Industry Alert
Industry Alert: Procurement fairness clause removed from many Taxpayer-Funded construction projects. BCCA warns the public and contractors of unacceptable levels of risk following the explicit removal of “Contract A” by many public owners.
Read More
WorkSafeBC_NewsRelease_CraneSafety_SicaWeb.png
June 18, 2024

WorkSafeBC Press Release
WorkSafeBC recommending changes to improve crane safety in B.C. New risk-reduction strategy is based on a comprehensive review of crane safety and informed by stakeholder input and feedback.
Read More
SICA_WrapUp.png
June 13, 2024

SICA Golf Tournament June 7th 2024
SICA would like to Thank everyone for making the June 7th Tournament a great success. It was a Perfect Day on the Greens: Thank You to Our Incredible Players and Sponsors! See the Wrap Up here!
Read More
BuilderBreakfast2024_Highlights_SICAWeb.png
April 15, 2024

SICA Contractor's Breakfast 2024
As we wrap up the SICA Contractor Breakfast 2024, we extend our heartfelt thanks to all attendees for making it a remarkable event. We're especially grateful to BCCA for their sponsorship, contributing to its success. Congratulations to Acres for receiving the 2024 Leadership award for the Southern Interior region.
Read More
BCGov_Budget2024_SICAWeb.jpg
March 20, 2024

BC Budget 2024
The Southern Interior Construction Association (SICA), alongside the British Columbia Construction Association (BCCA), supports government plans for housing and infrastructure but highlights significant concerns due to labor shortages and the lack of Prompt Payment Legislation in the 2024 Budget.
Read More
YoungBuilders_LaunchParty_wrapUp_SICAweb.png
February 20, 2024

Young Builders Launch Party Wrap Up
Wow, what a blast the Young Builder's Networking Group kickoff was! The Southern Interior Construction Association threw one heck of a party at the super trendy BNA Brewery Restaurant, and let me tell you, it was epic. Big shoutout to Acera Insurance for sponsoring – you guys know how to support the next wave of construction leaders.
Read More
CCOWorkshop2024_WrapUp_SICAWeb.png
February 20, 2024

CCO Workshop 2024
This is the wrap-up for the CCO Workshop 2024. This one-day conference where the goal of facilitating open and transparent conversation between all parties in the construction industry.
Read More
MembershipAppreciation_WrapUp.png
November 19, 2023

Membership Appreciation Evening Wrap Up 2023
We want to express our heartfelt appreciation for the members who attended our recent appreciation evening. Their unwavering commitment and dedication to the construction industry form the bedrock of our success, and it was a true honor to recognize and celebrate each member's invaluable contributions.
Read More
CCA-Hill-Day-2023_GroupV2.jpg.png
November 14, 2023

CCA Hill Day 2023
The CEO of the Southern Interior Construction Association, accompanied by 100 industry leaders, advocates at Parliament Hill for federal government collaboration to spur economic growth.
Read More
EBT_FluClinic2023_SICAWeb.jpg
October 10, 2023

EBT Flu Clinic Dates
Protect yourself and your family. Prevent the flu this year. Get your flu shot with a pharmacist on-site at both our SICA locations. Space is limited; book your appointment now. Please note this link will take you to the Save on Foods Pharmacy site but the Flu Clinic will be hosted in our SICA office locations.
Read More
MembershipAppreciation_RecognitionSICAWeb.png
August 29, 2023

Long Term Members 2022/2023

SICA would like to express gratitude and recognition for these organizations that have been dedicated, committed, and engaged members of our association. This list acknowledges the significant contributions, loyalty, and positive impact that long-standing members bring to the construction industry and our community.
Read More
InfrastructureBC_WebBanner.png
October 27, 2022

Join the Virtual Webinar
Infrastructure BC Announcement BC Major Infrastructure Projects Brochure – Fall 2022 Update Wednesday, November 16, 2022 2:30 PM - 4:00 PM
Read More
CCOWorkshop2022Wrapup.jpg
April 28, 2022

CCO Workshop 2022

This is the wrap up for the CCO Workshop. This one day conference where the goal is to facilitate open and transparent conversation between all parties in the construction industry.
Read More
Screen Shot 2021-09-22 at 9.59.47 AM.png
September 23, 2021

2021 Annual Report
On Thursday, September 23rd, SICA is holding a hybrid in-person/virtual Annual General Meeting. During the AGM SICA will share our latest Annual Report which covers the fiscal period between July 1, 2020, and June 30, 2021.
Read More
Legacy-Fund-sq.jpg
July 16, 2021

Kelowna Crane Incident Legacy Education Fund
Through the Southern Interior Construction Association (SICA) Fund and in partnership with the Construction Foundation of BC, SICA is organizing the Kelowna Crane Incident Legacy Education Fund. This fund is a tribute to the individuals who tragically lost their lives from the Brooklyn Site Incident on July 12th, 2021. The funds raised through this fund will go towards supporting future post-secondary education for the children of the victims in this tragedy.
Read More
7AFE1E5B-8F71-489C-93E6-C8A54BBD045E.JPG
July 15, 2021

#Hangahighvisoutside
SICA is amplifying the call to show solidarity and honour those who lost their lives on Monday by hanging a safety vest outside your workplace or home. Please consider hanging a safety vest outside your workplace or home. Use the hashtag #hangahighvisoutside when posting this initiative on social media.
Read More
hardhat.jpg
July 13, 2021

Brooklyn Site Crane Accident Statement
The board, staff, and members of SICA are deeply saddened to learn of the tragic crane accident in Kelowna yesterday. Our hearts grieve for the families, friends, and co-workers of those who did not return home from the job-site last night. Our deepest condolences go out to those who have been affected by this catastrophe.
Read More
BC-Construction-Association-Social-Covid-SICA-Final-V7.jpeg
July 02, 2021

Construction Fast Lanes for COVID-19 Vaccine
In partnership with the BC Public Health Office, the BCCA and its partners have made available construction fast lanes at select vaccination centers around the province on specified dates between and times through June and July.
Read More
Indigenous_History_Month.jpeg
June 07, 2021

Every Child Matters - Indigenous History Month
I write to you heavy with emotions regarding the recent discovery at the Kamloops residential school. This is a long-awaited confirmation of the cultural annihilation forced upon our indigenous communities. I feel the profound grief and anger of my ancestral lineage being of the Metis Nation, as well as a feeling of deep shame of being Canadian right now.
Read More
constructionmonth2021.jpeg
April 09, 2021

Construction Month 2021
Today, April 9th, as part of the #lunchboxchallenge for Construction Month 2021 SICA was happy to serve lunch to the workers on the Acres Enterprises Ltd. Barkman site in Merritt!
Read More
DSC_0099-scaled.jpeg
March 26, 2021

SICA training courses prove practical and meaningful to students
It’s no exaggeration to say the global economy has been paralyzed by the pandemic. Fortunately for many Canadians, the construction industry was one of the few beacons in an otherwise slow economy greatly inhibited by COVID-19. Of course, the many forms of construction activity couldn’t forge ahead frivolously – social distancing, rigorous cleaning protocols and an abundance of caution were the norm on work sites everywhere, and it’s clear these methods will continue in the months ahead.
Read More
Gold-Seal-Website.jpg
March 22, 2021

2021 Gold Seal Program Changes
The Gold Seal Certification program certifies estimators, foremen, owner’s construction managers, project managers, safety practitioners and superintendents working in, or with, Canada’s non-residential construction industry.
Read More
cdc-bkc-m0iZ4Sk-unsplash.jpg
March 16, 2020

COVID-19 Update
​Like you, SICA has been closely monitoring the ongoing global spread of the Novel Coronavirus (COVID-19).
Read More