Library

Client Information Library

When it comes to information about taxation and your business, it's hard to keep up! We have created our library of topics to help you easily access information on dealing with your business. When it comes to growth or selling your business, or dealing with the CRA, look here first and let us help you make the best decision. 

If you have questions about any topic here, please contact us. We are here to help.

T2201 Form Information

Disability Tax Credit

At one time or another, most businesses need to approach lenders for financing. And all lenders have certain expectations. The closer you meet those expectations, the better your chances for success.

A related business includes any business, where another individual related to the recipient of income does any of the following:

  • personally carries on the business
    • this means income from a sole proprietorship to a related person can be subject to TOSI
  • is actively engaged in the business carried on by a partnership, corporation or trust
  • owns shares of the corporation carrying on the business
  • owns a property, the value of which is derived from shares of the corporation having a fair market value not less than 10% of the fair market value of all of the shares of the corporation
  • or is a member of a partnership which carries on the business.

The definition is broadly drafted to capture income derived directly or indirectly from the business.

The preparation of the final income tax return(s) for a deceased taxpayer and related trust tax returns for an estate are very specialized services that we have prepared for over 20 years for our clients.