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The Kruco Case

The Kruco case is a pivotal case in the determination of safe income available for a tax free intercorporate dividend from a subsidiary to its parent company. The CRA’s inconsistent position on this has been interesting. The following is taken from a paper written for York University Faculty of Law. CRA Position and Cases leading…
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Safe Income and Section 55(2)

This is an excerpt from a paper written for York University Faculty of Law. Dividends from a subsidiary corporation to its parent corporation are often though to be tax-free – however this is not a safe assumption. The simple movement of dividends from a subsidiary to its parent corporation using the tax exemptions available under…
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Corporate Minute Books

Accountants appreciate the importance of good record keeping. After all, accounting is the recording of transactions in a generally accepted presentation based on those records. Well maintained records are the foundation of a well organized entity. And at the centre of that foundation is the corporate minute book. Shajani makes it easy to maintain your…
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Tax Minimization Strategies for a Sole Proprietor

Sole proprietors do have planning opportunities to minimize their taxes. This includes using start-up losses against other personal income as well as considerations of timing of acquiring business assets and income spitting opportunities. Tax planning is an ongoing process that involves arranging your income tax affairs to legally minimize your taxes as permitted under the…
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