This introductory level course focuses on the many tax issues that arise – both compliance and planning related – when starting a business. Common traps and planning opportunities are discussed.

Common traps and planning opportunities when starting a business will be discussed. Starting with an overview of forms of business, including pros and cons of each, the course will present structuring decisions for tax efficiency and to preserve access to losses. Planning opportunities in the start up phase and employee issues will also be addressed.

This course is primarily focused on private companies. It does not touch on provincial-specific regulations or non-tax issues that are relevant to private companies (ie. workers compensation rules, specific registration requirements, etc.).

TOPICS INCLUDE

• Proprietorships, partnerships, and corporations
• Structuring for tax efficiency
• Structuring for investors
• Structuring decisions to preserve access to losses
• Planning opportunities
• Employee issues

NOTE: No updates or changes were made to the 2023 version of this course. If you completed the course in 2022, please be advised the 2023 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.

By the end of this course, participants will be able to:

• Understand the basic forms in which a business can be carried on in Canada.
• Understand the basic techniques for structuring a new business in a tax-efficient manner.
• Understand the basic tax considerations for dealing with start-up losses.
• Understand some basic tax planning opportunities that small businesses can consider.
• Understand employee-related issues for new businesses.