Category Archives: Corporations

55(2)-land

Posted on January 27, 2012 by John Loukidelis

I didn’t understand CRA technical interpretation 2011-0394191 at first, but I think I get it now.

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PC Employment Agreement

Posted on October 21, 2011 by John Loukidelis

It is our standard practice when incorporating a professional corporation (a PC) to prepare an employment contract between the professional and the PC.

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Buckingham

Posted on September 6, 2011 by John Loukidelis

For those of us who defend director liability cases, R v Buckingham, 2011 FCA 142, is a must-read.

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Resignation

Posted on May 9, 2011 by John Loukidelis

The Ontario Ministry of Government Services (MGS), it appears, seems to believe that the sole director of a corporation cannot resign and leave the corporation without directors. The MGS will refuse to amend the public record for a corporation to … Continue reading →

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Shareholder Agreement Tax Gotcha

Posted on May 2, 2011 by John Loukidelis

The following article will appear in an upcoming edition of the HLA Journal. One wouldn’t think that entering into a shareholder agreement should have anything to do with the availability of the $500,000 small business deduction for a corporation, but … Continue reading →

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Purity

Posted on November 5, 2010 by John Loukidelis

Yesterday, I presented my paper on “Purifications” and the capital gain exemption to the Hamilton Law Association’s corporate commercial seminar.

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PUC Shifts

Posted on October 5, 2010 by John Loukidelis

In my article on multiple classes of shares, I described the difficulties that can arise where shareholders subscribe for shares of a class in the capital of a corporation at different times and at different prices per share. How does … Continue reading →

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Multiple Classes

Posted on August 30, 2010 by John Loukidelis

The following article appeared in a recent edition of the Hamilton Law Association Law Journal. Why have separate classes of shares in the capital of a corporation for new investors? Creating separate classes of shares creates its own problems both … Continue reading →

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Bad assets

Posted on August 2, 2010 by John Loukidelis

You need to purify a corporation of its bad assets so that the corporation’s shares will be qualified small business corporation shares for the purposes of the $750,000 capital gains exemption. Let’s assume that you are confident about the values … Continue reading →

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Exida.com Appeal Dismissed

Posted on June 25, 2010 by John Loukidelis

In Exida.Com Limited Liability Company v. The Queen, 2010 FCA 159, the Federal Court of Appeal dismissed the appeal of the taxpayer from the decision of Justice Woods (see “Contradiction“). The Federal Court of Appeal’s reasoning is surprising and, perhaps, … Continue reading →

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