Private Corporations

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Did you know that operating your business through a private corporation can allow you to access one of the lowest income tax rates in the world? Arguably one of the best advantages of incorporating your active Canadian business is the ability to defer taxes at a low 11% tax rate on the first $500,000 of taxable income and 27% on any excess taxable income. That is significantly less than the highest personal marginal rate of 54%.

 

Private corporations also have tax planning opportunities to split income with family members, potentially claim a tax-free capital gain on qualifying private company shares up to $892,000, and transfer wealth to the next generation through family trusts, to name a few.

 

Clearline CPA can help you make the most of these opportunities. Together, we will create a plan and strategy to minimize tax and achieve your objectives, all the while dealing with the Canada Revenue Agency so you don’t have to.

Services

  • Year-end financial statements:
    • Compilation
    • Review
    • Audit
  • Corporate tax return (T2) filing
  • Trust return (T3) and dividend (T5) filing
  • Tax projections and planning for shareholders
  • Strategic tax and estate planning
  • Corporate restructuring
  • Family trusts
  • Business acquisition and sales consulting
  • Mergers and acquisition consulting

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Thought Leadership

Practice Leaders

Dave Block

CPA, CA, Principal

Dave focuses on holistic strategies for owner-managed businesses, ensuring goals integrate with both corporate and personal planning.

Jeff Block

CPA, CA, Principal

Jeff focuses his expertise on providing accounting and tax advice to business owners, professionals and private companies.

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Bilal Kathrada

CPA, CA, Principal

Bilal primarily focuses on income tax and succession planning for Canadian owner-managed businesses in various industries.