Update: Realtors, treat yourselves fairly
In our previous blog post titled “Realtors, treat yourselves fairly”, we discussed Bill 145, Trust in Real Estate Services Act, 2019, which would provide realtors with the ability to incorporate a professional real estate corporation. Bill 145 received Royal Assent and has been made into law…Continue reading the post titled Update: Realtors, treat yourselves fairly
Physicians and dentists: The process of incorporating a professional practice
Physicians and dentists in Ontario are permitted to incorporate a professional corporation through which they may practice their profession. There are significant benefits associated with incorporating, and most professionals choose to take advantage of these benefits by establishing a medic…Continue reading the post titled Physicians and dentists: The process of incorporating a professional practice
Business Essentials – Episode 6: Professional practice law and running a practice virtually
In Siskinds’ Business Essentials, a limited-run podcast series, Chris Sinal of Siskinds’ Labour & Employment group sits down with some of the firm’s business lawyers to discuss current issues and challenges facing our clients as they adapt to the new business environment resulting from …Continue reading the post titled Business Essentials – Episode 6: Professional practice law and running a practice virtually
Plan Early for the Sale of a Dental Practice
Context Over the past decade there has been growth in the market for the purchase and sale of dental practices. There is a natural fit between older dentists wishing to retire and younger dentists who wish to establish their own dental practice. In a very competitive market, there is a disti…Continue reading the post titled Plan Early for the Sale of a Dental Practice
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…Continue reading the post titled Cybersecurity and Privacy Considerations for Professionals
Realtors, treat yourselves fairly
Note: An update to this post can be found here which discusses Bill 145 receiving Royal Assent, and the need for the provincial government to implement supporting regulations. Bill 145, Trust in Real Estate Services Act, 2019, represents a potential opportunity for realtors in Ontario to eng…Continue reading the post titled Realtors, treat yourselves fairly
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…Continue reading the post titled Should I practice through a professional corporation?
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…Continue reading the post titled Establishing a medicine professional corporation: Who is permitted to own shares?
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 as shareholders, have historically been able to benefit from income s…Continue reading the post titled Expanded tax on split income (TOSI) rules for professionals
6 Key Elements of a Business Succession Plan
Recently, the Canadian Federation of Independent Business (“CFIB”) suggested that “some 72% of business owners intend to exit their businesses within the next decade, with over 1.5 trillion dollars’ worth of business assets to be transferred to a new generation of business owners”. This s…Continue reading the post titled 6 Key Elements of a Business Succession Plan