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Using a Family Trust in Business

Family Trusts for Business

The discretionary family trust is a tool used by some business owners to reduce tax liability and increase flexibility in the family economic unit by facilitating tax-favourable distribution of funds, business succession and estate planning. Using a discretionary family trust to hold shares in a private company can have...

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Business Sale Tax Considerations

Business Puchase & Sale Tax Considerations in Canada

The purchase and sale of a private incorporated company in Canada raises a variety of important tax considerations. This paper provides an overview and analysis of such considerations and argues that the clear public policy objective of promoting small business in Canada using provisions of the Income Tax Act...

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Marijuana Businesses in Canada

Marijuna Business Law

On June 24, 2015, prompted by both the federal government’s pledge to legalize possession of marijuana for recreational purposes, and the growing number of marijuana-related businesses in the city, Vancouver became the first city in Canada to create by-laws regulating marijuana-related businesses. Marijuana businesses in Ontario have become more...

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CRA Voluntary Disclosure Program

Toronto Business Tax Law CRA Voluntary Disclosure Program

The Canada Revenue Agency’s Voluntary Disclosure Program promotes voluntary compliance with Canada’s tax laws by encouraging taxpayers to come forward and correct deficiencies in their tax filings on a penalty exempt basis. This paper provides an overview of the existing Voluntary Disclosure Program, analyses the programs current use and...

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