Buy/sell agreements provide for the transfer of the ownership of the business in different circumstances death, disability, retirement or disagreement. At death or disability, for example, the remaining owners may not want to be in business with the deceased owner’s heirs or the non-active disabled owner. As well, the heirs or disabled owner may prefer … Continued
Should your business partner die, who would inherit his portion of the business, his wife, or his children? The sudden death of a shareholder in a closely held corporation can be a significant loss to the company’s on-going operations. It will leave a hole in the management team and could cause severe strain in decisions … Continued
As we discussed earlier, the Federal budget in February of 2018 introduced new rules on how passive investment income inside a corporation is taxed and viewed. Passive investment income has always been taxed at a very high rate, which made it important to be clear on how your corporate cash surplus was invested or saved. … Continued
In 2018, Canadian-controlled private corporations (CCPCs) pay corporate income tax on small business income at 12 percent in Alberta. This rate is to be reduced to 11 percent in 2019. The small business limit (the amount of income annually that is eligible for the small business rate) is $500,000 in Alberta Under the Proposals, the … Continued
