All Questions
4
questions
2
votes
0
answers
44
views
Ontario resident working contract job in British Columbia
If my corporation is registered in Ontario and I am an Ontario resident, then if I take a contract in Vancouver, will it be legal? Do I pay taxes once for British Columbia and once for Ontario?
- 16k
11
votes
3
answers
10k
views
Why do banks require small businesses to open a business bank account instead of a cheaper personal one?
I understand the need to separate personal finances and the business finances, be it sole-proprietorship or incorporation. I also understand that in the former it's optional, but in the latter it is ...
- 319
0
votes
1
answer
183
views
Why does paying out all corporate income as salary reduces the risk of being labeled a personal service business?
This blog article on PSB outlines the rules clearly. But in one of the comments it says:
However, if you are paying mostly salary to yourself, your risk is minimal even if assessed
What is the ...
- 16k
3
votes
2
answers
232
views
Better ways to invest money held by my small, privately-held Canadian corporation?
I own a small, privately-held corporation and am looking for ways to invest my corporation's money more effectively.
The problem is the government taxes passive investment income inside a corporation ...
- 31