What to Do After Creating a Company?
What to do after creating a company? Once the corporation is incorporated, there are several things to do before the corporation can begin carrying on business: Extra-provincial registrations. If the corporation is incorporated under the CBCA (Canada Business Corporations Act), it needs to obtain any necessary extra-provincial licence or registration. You need to check the […]
Name Considerations When Creating a Company
Name Considerations When Creating a Company Name of Corporation Before drafting articles of incorporation or filing the articles, determine the name ofthe corporation. Different jurisdictions have different naming requirements or prohibitions. The CBCA (Canada Business Corporations Act) requires that the name contain one of the words as an ending, "Limited", limitée", "Incorporated", "incorporée", "Corporation" or […]
Tax Considerations When Creating a Company
Tax Considerations When Creating a Company Tax Considerations Many private corporations qualify as Canadian-controlled private corporations (CCPC) under the Income Tax Act. CCPC status is useful to gain access to several important tax advantages, including the: Low effective tax rate applicable to the first $500,000 a year in active business income earned in Canada. Ability […]
DO I INCORPORATE FEDERALLY OR PROVINCIALLY?
Do I Incorporate Federally or Provincially? When forming a business, the first step is deciding what type of entity is best (for example, a corporation or partnership). The best form of entity depends on structure, liability, tax and management considerations. Most small businesses choose a corporation as a common form of entity because it allows […]
Buying a Business – How to Choose Between Buying Shares or Assets?
Buying a Business – How to Choose Between Buying Shares or Assets? In a share purchase transaction, the only asset being sold is the shares in the Company. Typically, a Vendor prefers a share purchase transaction due to the favourable tax treatment, while a Purchaser would prefer the transaction to be structured as a purchase […]
Bill 184, Protecting Tenants and Strengthening Community Housing Act, 2020
Bill 184, Protecting Tenants and Strengthening Community Housing Act, 2020 On July 21, 2020 Bill 184, title “Protecting Tenants and Strengthening Community Housing Act, 2020” received royal assent. The most significant change in this Bill for landlords, is the ability to streamline the eviction process for non-payment of rent. As a result of this Bill, […]