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Published on: 20 Feb 2020 By ,

Cybersecurity and Privacy Considerations for Professionals

Professional organizations, including medical, dental and other health care practices, continually depend on technology and digital advancements to collect, store and organize information about their patients. Increasing use of electronic data and electronic medical records creates a heighte…

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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?

Several years ago, most professions governed by colleges or institutes were granted the ability to incorporate. Since that time, thousands of professionals across Canada have incorporated their practices. For newer graduates, whether, and when, to incorporate will be an important decision. T…

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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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