Articles

Share Sale or Corporate Redemption?

Apr 26, 2016
Cherries on Branch

Frequently when restructuring a closely held private corporation shareholders must decide whether to transfer shares from one shareholder to another with a share purchase and sale or to have the corporation redeem (i.e. buy back) the shares from the shareholder, resulting in a reduction in the total number of issued and outstanding shares and increased…

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CRA Voluntary Disclosure Program

Apr 22, 2016
Cardinal in Early Spring

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 argues in favour of amendments to…

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The Due Diligence Defence

Mar 21, 2016
Chain Lock

What is due diligence and why is it important? “Due diligence” is a context-specific determination referring to the level of judgment, care, prudence, determination, and activity with which a person would reasonably be expected to act. In business dealings, establishing due diligence – that you, as either an officer or a director of the corporation…

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How to Set up a Co-operative

Mar 7, 2016
Muskoka Lake

A cooperative or “co-op” refers to an incorporated business organization owned by members sharing common needs or goals. Incorporation presents a number of advantages to its members, namely the co-op’s separate legal existence, limited liability for the members, and general agreement to basic principles on how the organization will operate.

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