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Published on: 13 Feb 2020 By

Section 85: Rollover and Income tax planning

A Section 85 Tax Rollover (“rollover”) is term used to describe a special tax technique that allows a taxpayer to defer all or part of the income which would otherwise be taxed upon transfer. In other words, it allows a taxpayer to defer paying taxes on assets transferred. This is especially…

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Published on: 14 Jan 2020 By

Should I practice through a professional corporation?

There are many benefits associated with incorporating a professional corporation, including lower corporate tax rates, investment and tax strategies, and planning for retirement. Professionals are advised to seek legal and accounting advice in order to determine whether incorporation is appr…

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Published on: 13 Jan 2020 By

Understanding the differences between GDPR, CCPA, and PIPEDA – a guide for Canadian businesses

Gone are days of unregulated and untethered data gathering. With the rolling out of the California Consumer Privacy Act, Canadian businesses are now finding themselves navigating a sea awash with a patchwork of extraterritorial legislation. The laws are sometimes inconsistent, often vague, a…

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Published on: 9 Jan 2020 By

Establishing a medicine professional corporation: Who is permitted to own shares?

The Regulated Health Professions Act allows medical professionals to establish a corporation for the purpose of practicing medicine. Creating a Medicine Professional Corporation (MPC) may be financially beneficial for physicians since the tax rate of the corporation is much lower compared to…

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Published on: 17 Dec 2019 By

Expanded tax on split income (TOSI) rules for professionals

Many professionals choose to incorporate a professional corporation to take advantage of the various tax benefits of doing so.  Professionals, such as physicians and dentists, who are permitted to include family members[1] as shareholders, have historically been able to benefit from income s…

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Published on: 16 Dec 2019 By

Advantages and disadvantages of franchising your business

If you’re reading this article, you’re probably considering franchising as a method of expansion for your business. You might be considering franchising as a result of your own research into expansion options for your business, or (as is often the case) you might be considering franchising b…

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Published on: 10 Dec 2019 By

6 key elements of a business succession plan

Business succession planning is an important part of operating a successful business and developing a strong retirement plan. In this article, retired Siskinds’ partner and business lawyer, Henry Berg, discusses the importance of careful and intentional planning in order to ensure a successf…

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