Kelly Santini is honoured to be presenting this year’s Ottawa Arts Council Emerging Artist Award. The award recognizes and encourages the achievements of Ottawa artists who are in the early stages of their career in the arts and are working towards becoming recognized professional artists, while engaging with the community….

Regulated medical professionals in Ontario have had the option to incorporate their practices since 2001.  This option can provide significant tax savings advantages to medical professionals, if their practice is generating revenue beyond what they require for day to day living expenses.  In converse, if the revenue is only sufficient…

Beginning on January 1, 2017, Canada’s current tax regime for eligible capital property (ECP) will be replaced by a new capital cost allowance (CCA) class. This change was proposed in the 2016 Federal Budget in an effort to simplify the existing tax rules related to ECP. The new regime may…

Regulated medical professionals in Ontario have had the option to incorporate their practices since 2001.  This option can provide significant tax savings advantages to medical professionals, if their practice is generating revenue beyond what they require for day to day living expenses.  In converse, if the revenue is only sufficient…

Limitations on the activities of Medicine and Dentistry Professional Corporations Over the past several years, as the tax benefits have become more widely known, the use of medicine professional corporations (“MPCs”) by physicians and dentistry professional corporations (“DPCs”) by dentists has become widespread. As time passes and the professional accumulates wealth…

The question of what constitutes a general partnership versus a cost sharing arrangement has important tax consequences  for professional corporations and is an issue increasingly being reviewed by CRA.  The main tax advantage for professionals using a cost sharing arrangement is the ability for each professional to take advantage of…