Asset Protection and Tax Planning

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.

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Asset Protection Trusts

This 6-page article discusses the pros and cons of Asset Protection Trusts for residents of Canada and the USA.

Topics covered in the article include:
  • characteristics and structure of an asset protection trust,
  • how to establish a successful asset protection trust,
  • the limitations of a trust,
  • the impact of current Canadian and American tax laws on asset protection strategies.
Asset Protection Trusts contains information for .....

Canada Amendment Forms Package for Section 86 Rollover

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:

  1. Special Resolutions of t.....

Canada Exchange of Shares for Land & Section 85 Election

Make an election under section 85 of the Income Tax Act (Canada) for an exchange of shares for land with this downloadable easy form.

  • The parties are both Canadian corporations.
  • The seller transfers the land to the buyer. In exchange the buyer assumes the mortgage on the land and issues shares of its capital to the seller.
  • The parties agree to jointly file a Section 85 election.

The Canada Exchange of Shares for Land & Section 85 Elect.....


Canada Promissory Note for Asset Purchase or Rollover

Secure the balance payable to the vendor under an asset purchase or rollover agreement with this Promissory Note form for Canadian businesses.

  • No interest will accrue on the principal balance prior to default or maturity.
  • The full amount outstanding will become due and payable on demand if the purchaser declares bankruptcy, ceases to do business, or otherwise defaults under the terms of the Note.
  • The balance may be totally or partially prepaid without bonus .....

Canada Section 85 Rollover Agreement (Common to Preferred Shares)

Prepare a Section 85 Rollover Agreement for a transfer of shares from a shareholder to a corporation with this template for Canada, under S. 85 of the Income Tax Act.

  • The shareholder sells common shares to the corporation in exchange for preferred shares.
  • The parties agree to file a joint election for fair market value of the old shares.
  • The purchase price is adjusted to ensure that the redemption amount for the new shares does not exceed any reassessment of.....

Canada Section 85 Rollover Agreement (Land)

Transfer land into a corporation tax-free with this Canada Section 85 Rollover Agreement for Land.

  • A rollover allows you to transfer the asset under Section 85 of the Income Tax Act without attracting capital gains tax on the transaction.
  • In exchange for the land, the purchaser corporation issues shares to the vendor equal to the fair market value of the land.
  • The purchaser and vendor agree to jointly file an election under subsection 85(1) of the Act.
  • <.....

Canada Section 85 Rollover Agreement (Oil and Gas Assets)

Transfer oil and gas assets from an individual to a corporation with this Section 85 Rollover / Transfer of Assets Agreement for Canadians.

  • The assets are being transferred as a rollover under section 85(l) of the Income Tax Act (Canada).
  • The vendor and purchaser will jointly file an election with respect to the transaction.
  • In the event of an uncontested re-assessment by Canada Revenue Agency, the aggregate cost amount set out in the reassessment notice wil.....

Canada Section 86 Rollover Agreement (Shares)

Prepare a Section 86 Asset Rollover Agreement for a rollover of shares as part of a corporate reorganization, with this easy-to-use template for Canadian corporations.

This package contains the following documents:
  1. Share Exchange Agreement pursuant to Section 86 of the Income Tax Act (Canada).
  2. Corporate resolutions to authorize the transaction.
  3. Subscription form for the new shares.
This Canada Section 86 Rollover Ag.....

Establishing an Offshore Structure for Canadians

This in-depth article describes a variety of offshore structures available to residents of Canada, for the purpose of asset protection. In particular, opportunities in the Bahamas are discussed.

The article provides a variety of information, including:

  • a summary of how each structure is established,
  • the purposes, advantages and disadvantages of each type of structure,
  • international business corporations,
  • settlement trusts,
  • inter.....

How to Creditor-Proof Your Business

Do you know how to creditor-proof your business?

  • This free checklist outlines strategies you can employ to protect your business assets and investment from creditors.
  • Find out the degree of your exposure as a shareholder, director and/or officer.
  • Get tips on protecting your personal assets and business profits.
How to Creditor-Proof Your Business is available as a PDF download.