The business attorneys at Sodagar & Company Law Corporation can effectively help you through a corporate restructuring. Estate Freeze Do you intend to sell your company in the near future? Or do you intend to transmit your business to your children in the coming years? If so, you should assess whether a freeze on your estate is a smart plan.…
As a general rule, any profits from the sale of a capital asset, such as real estate, are subject to taxation in the hands of the seller. The exemption that applies to the sale of a person’s primary residence from this capital gains tax is one that is often used by Canadians. This blog summarizes how recent adjustments to taxes…
As per Income Tax Act (“Act”), the tax base is a Canadian resident’s “taxable income” for each taxation year, plus additions and minus permitted deductions. The Act, specifically, states that any income from office, employment, business and property is taxable. However, this list is, in no way, exhaustive, which makes the discourse around taxable and non-taxable income a complicated one.…