A Business Option Worth Considering

A Business Option Worth Considering

Business succession planning provides the perfect opportunity to use strategic generosity to fulfill your charitable aspirations while maximizing tax efficiency. The majority of small and mid-sized businesses in Canada are owned by individuals over fifty[1]. Within the next 10-20 years, many of these businesses will experience an ownership transition due to life events such as: Retirement…

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Worth the Effort: Donating Private Company Shares

Worth the Effort: Donating Private Company Shares

Writing a cheque may be the most obvious way to give to charity, but if you own shares in a Canadian Controlled Private Corporation (CCPC), donating those shares to charity in-kind has the potential to provide significant additional tax benefits. Complex rules apply to this gift planning strategy, but with proper planning and professional advice…

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When Giving Is Good for Business: Donating Private Company Shares (Part 2)

In Part One, I introduced you to Keith and Edward, who contacted me to help them donate $100K of private company shares. Although complex rules apply, with proper planning and professional advice, this gift planning strategy can be a tax efficient way to support charity.   How to Donate Private Company Shares  The process of donating private company shares to Abundance…

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When Giving Is Good for Business: Donating Private Company Shares (Part 1)

Edward & Keith always knew they wanted to work together. After earning their CPA designations, the brothers took the plunge and went into business together. They incorporated their accounting business, which qualified as a Canadian Controlled Private Corporation (CCPC). In time, the business became quite successful and the brothers were happy to give back to…

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