Why Amalgamate – Streamline your Corporations, their Tax Obligations, Liabilities, and Assets
An amalgamation (sometimes called a merger) is the combination of two or more corporations to form one corporation and to continue on in existence as one...
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Owing Money To The CRA: Tom’s Story Part 2
Tom can't believe his eyes. He owes $27,000 to the CRA. What happened with the audit? Why didn't his accountant handle the situation, or at least tell Tom...
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The Importance of Shareholder Agreements
While there is no legal requirement to have a shareholders agreement under law, any corporation with more than one shareholder is well advised to obtain one...
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How Professionals Incorporate To Save On Taxes
Professional Corporations Legislation in Ontario specifically permits certain professionals to practice their profession in a corporate form even though...
Read More Owing Money To The CRA: Tom’s Story Part 1
Tom Johnson runs a successful sole proprietorship in Toronto, Ontario. He buys consumer goods that he finds online for cheap, and then re-sells them in his...
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Incorporation vs. Sole Proprietorship
When a taxpayer decides to start their own business, he or she must consider the type of business structure best suited to their individual needs. The most...
Read More Section 85 Rollover
What is a Section 85 Rollover? The Income Tax Act ("ITA") contains several provisions that allow a taxpayer to transfer ownership of property without any...
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Marijuana Dispensaries and Taxes
With the recent explosion of marijuana dispensaries in Vancouver and Toronto, the Canadian government is having a hard time coming up with new laws to...
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