In Ontario, a business, particularly a corporation, is legally required to maintain a minute book as part of its corporate records. Here’s why you need one and how often it needs to be updated: Why You Need a Minute Book Legal Requirement: Under the Ontario Business Corporations Act (OBCA) and the Canada Business Corporations Act […]
What is a Minute Book? Read More »
In Ontario, a corporate name search is a critical step when incorporating a business or changing the name of an existing corporation. The process ensures that the proposed corporate name is unique and does not conflict with existing business names, trademarks, or other registered entities. Here’s what’s involved: Preliminary Name Search Brainstorming: Start by
How Do You Legally Do A Corporate Name Search? Read More »
Deciding whether to Incorporate your company federally or provincially/territorially in Canada depends on your business needs, goals, and the scope of your operations. Here’s an overview of the differences between federal and provincial/territorial incorporation, as well as the advantages and disadvantages of each: Scope of Business Operations Federal Incorporation: Nationwide Name Protection: Federal incorporation
Should I Incorporate Regionally or Federally in Canada? Read More »
Navigating Change: Canadian Family Businesses Accelerate Succession Plans Amidst Economic Shifts A recent study by KPMG LLP in Canada reveals a significant trend among Canadian family business owners, with 79% fast-tracking succession plans due to evolving economic landscapes and internal family dynamics. The survey of 285 leaders from 700 small- and medium-sized family businesses indicates
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Navigating Business Success: A Comprehensive Guide to Incorporation in Ontario Incorporation is a significant milestone for any business in Ontario. It not only provides legal protection and separation of personal and business assets but also opens up opportunities for growth and success. If you’re considering taking the plunge and incorporating your business in Ontario,
A Comprehensive Guide to Incorporation in Ontario Read More »
Two recent cases in the Federal Court of Canada highlight the perils for Directors of Corporations, even as a Past Director. As you may know, under the Income Tax Act (Canada), Directors have personal liability for unremitted withholdings from employees’ salaries (the portion of salaries deducted from paycheques for employee taxes, UIC and CPP). In
Updated Warnings to Directors of Corporations, Past and Present Read More »
Securing commercial space used to be a prerequisite to operating a business. Covid 19 has further opened up the opportunity for working from home and starting a small business. We are sharing some guidelines on how you can do this and offer up some of the general restrictions on operating a business from your home.
Starting A Business Without Commercial Space Read More »
Not long ago, conventional asset protection, income tax avoidance mantra suggested taking a revenue-producing asset (such as Patents or Trade-marks that can be licensed) off-shore to a low or nil income tax jurisdiction. The idea was to earn royalties in a favourable tax jurisdiction and avoid U.S. or Canadian income tax on the income. The
Off Shore Investing Read More »
One of the most difficult challenges facing entrepreneurs is a claim filed under Human Rights legislation. Essentially, a claimant has the benefits of government-paid legal counsel without any economic exposure or downside. By stark contrast, to all other litigation or claims against anyone, (all of which involve a claimant underwriting his own case), the Social
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