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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: 10 Dec 2019 By

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”[1]. This s…

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