Why do you need a corporate lawyer for your business?
Why do you need a corporate lawyer for your business? Recently Nava Wilson LLP was named the Best Corporate Lawyers in Toronto by The Best Toronto. The Best Toronto serves as a guide to the best things that Toronto offers, from the top products to the most dependable services. In light of this event, we’ve […]
Shareholder’s Agreement in Ontario – Key Considerations for Every Company
Shareholder’s Agreement in Ontario – Key Considerations for Every Company Shareholders in Ontario know that there is no “one size fits all” shareholder agreement that can be applied to all companies. Every company has its own unique needs and concerns, which is why a customized shareholder agreement is crucial. A cookie-cutter template may actually do […]
Selling Your Cannabis Store In Ontario? All the Legal Stuff you Need to Know.
Selling Your Cannabis Store In Ontario? All the Legal Stuff you Need to Know. As I am sure you have noticed, there are more and more cannabis retail stores popping up in Ontario every week. That is because the lottery process has finished, and now there are hundreds more cannabis retail stores to pop up […]
Help! My Shares Are Getting Diluted!
What to do if your shares are getting diluted? We’ve had clients calling us in a panic when they hear the words “share dilution“. They are not wrong in worrying about their money losing value. It’s important, however, to understand what it really means and why it happens. There are TWO basic types of dilution: […]
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 […]
What Happens When There Is A Leak In A Gas Tank?
What Happens When There Is A Leak In A Gas Tank? When operating a gas station, one should be familiar with the Technical Standards and Safety Act but also, the forgotten Liquid Fuels Handling Code. The Code has requirements for licensing, corrosion protection systems, maintenance, testing, leak detection systems etc. The Code provides the frequency […]