If you’re thinking of incorporating your business, it’s worthwhile to familiarize yourself with the different types of corporations from a tax point of view and the potential corporate tax issues associated with each. When tax time rolls around, the Canadian-controlled private corporation has definite advantages. It may be right for you. If you own an existing business, structuring your accounts and assets for maximum tax deductibility is just plain common sense. Did you know corporations based in Canada are taxed on their worldwide income? Or that corporate tax rates are determined by the source of income? For example, property income (including interest, rent and dividends) attracts a higher rate of tax than general business income. Canadian controlled private corporations are eligible for a reduction in the general tax rate. Let us help you get the facts and ensure your company takes advantage of all the tax relief available to you.
Corporate Tax Planning
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