Pay Less Tax on the Sale of your Business: Understanding the Impact of Allocations to Restrictive Covenants and the s.56(4) Election A restrictive covenant is essentially a commitment not to
Allocations of Purchase Price on the Sale of a Business – Be Wary of Section 68 When buying or selling the assets of a business, it is important to negotiate
Tax Deductions for Bad Debt Under Section 22 When selling a business, your assets may include accounts receivable that include bad debts, for which there is no expectation for recovery.
Tax Elections that Cancel GST/HST on the Sale of Assets Section 156(1) of the Excise Tax Act (Asset Purchase) – Form RC4616 In our last article, we looked at Election
Tax elections on the sale of a business: Avoiding GST/HST with the filing of Election 167 When selling the supplies of a business, there are certain tax elections that one
The Highly Affected Sectors Credit Availability Program (HASCAP) February 2022 update: Availability for the HASCAP Guarantee has been extended until March 31st, 2022. On January 26, 2021, the Minister of
Central Obligations of Provincial and Federal Corporations on an Annual Basis Provincial Obligations A provincial corporation has three central obligations: Prepare and file a T2 Income Tax Return each year
Personal Real Estate Corporation (PREC) Are you a real estate broker or agent interested in paying less tax on your commissions? Perhaps you want to defer paying taxes to a
How do shareholders remove a director or officer from a corporation? A director of a corporation and its officers have a duty of care to the best interests of a
How Do You Transfer Shares of a Private Corporation? When a corporation is incorporated, the articles of incorporate set out the issuance of shares—who owns the shares and by what
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