Tax Planning for Corporate Owners

Corporations have always been the favorite business models for the business people because of the following reasons:

 

 

  • Low tax rate to Canadian controlled private corporations on their Active business income. As per the present provisions CCPC are required to pay tax at 15.5% rate up to first $500,000 income if they are operating in Ontario against the 46.43% which are applicable to individuals.
  • Any business liability which arise out of business transaction and for which no personal guarantee has been given does not falls on the personal Assets of the business owner
  • This structure can be effectively used for succession planning and estate planning purpose.

The advantage mentioned above always encourages business people to incorporate their business & run the business accordingly. Some times lacks of proper planning and financial strategies results in financial loss which can be substantial some times.

We at MITAX ensure that the business owner gets all the advantage for which they have incorporated their business. Some are the important tax strategies which we always incorporate in the tax planning for corporate owners:

Share Holder Remuneration Stretegies

Whenever share holders withdraw the money from the business it is a taxable event and can trigger the tax liability. Here the roll

Sale \ Purchase of Business

The sale or purchase of business is very important event in the life of business person. There can be two methods to acquire

Mitax Financial Corporation
2355 Derry Rd. East, Unit 46 (Upper Floor),
Mississauga, Ontario L5S 1V6

Telephone: (905) 461-4949
Cell: (416) 565-8299
FAX: (905) 677-6423
E-mail: info@mitax.ca

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