Preserve your business assets and reduce your corporate and personal taxes with our Asset Protection and Tax Planning Forms, including asset rollover agreements for Canadians.
Q. What could be classified as an asset?
A. An asset is any property (real or personal) that has a dollar value. Tangible assets include such things as real estate, jewelry, vehicles and other physical items. Nonphysical items such as stocks, bonds, bank accounts, and pension benefits that have value are considered intangible assets, and must be taken into account during tax and estate planning.
Q. What kind of tax planning strategies should I consider?
A. There are a number of strategies you can employ to minimize the amount of tax you pay, such as contributing to a retirement plan, income splitting, deferring capital gains, moving assets offshore, and creating a trust. Your accountant can advise you on the most suitable strategy for you, based on your income, financial picture, and personal circumstances.
Reorganize your corporation's share capital under Section 86 of the Income Tax Act (Canada) with this Corporate Approval and Articles of Amendment Forms Package.
A rollover is one of the most common methods of achieving a tax-deferred reorganization of business or investment interests. The vendor realizes no gain or loss, and the purchaser takes over the vendor's tax cost of the assets.
The package of forms contains the following:
Special Resolutions of the directors and shareholders of the corporation to amend the articles and reorganize the share capital.
Schedule to the Articles of Amendment setting out the new share classes and the rights and privileges of each share class.
This Canada Corporate Approval and Articles of Amendment Forms Package for Section 86 Rollover is available in MS Word format, and is fully editable to fit your specific circumstances.