The new 50 percent tariffs take effect August 19, targeting wine, whisky, cement and a dozen other categories while leaving energy, potash, fish and critical minerals untouched. For Canadian-controlled private corporations in the affected sectors, the date sets off an AAII and small business deduction recalculation before the tariffs even reach active business income. Prescribed rate loans and trust distribution plans tied to income from an exposed corporation are worth revisiting before then.
This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.
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