Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This seminar will focus on the many tax issues that arise, from a compliance and planning perspective, when shutting down a corporation. It will focus exclusively on private companies. Common traps and planning opportunities that arise when shutting down corporations will also be discussed.
Whether for performance reasons, planning reasons, or just because of the evolution of the life-cycle of a corporation (or its shareholders), CPAs are often required to assist in the “shutting down” of a corporation. This may occur via dissolution, amalgamation, or wind-up. This course discusses the key tax considerations to address in each of these scenarios.
Although there will be coverage of the issues associated with the winding-up of smaller “mom and pop” type corporations that are ceasing operations, this only represents a small portion of the course coverage. The remainder of the seminar coverage will be more applicable to corporations within larger corporate groups. As an intermediate level course, there will not be any coverage of specific issues related to T2 preparation.
Topics Include:
- Taxable wind-ups
- Tax-deferred wind-ups
- Tax-deferred amalgamations
- Issues impacting shareholders of corporations being shut down
- Issues relating to winding-up dividends
- Tax issues relating to the disposition of shares and debts
- Debt forgiveness issues that arise on winding up
- Losses
- Clearance certificates, liability for tax debts, tax refunds, assessing a dissolved corporation
- PUC and ACB issues (corporate and shareholder)
NOTE: No updates or changes were made to the 2025 version of this course. If you completed the course in 2024, please be advised the 2025 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
The CPA Ontario Tax Immersion Program
Key Takeaways
By the end of this course, participants should be able to:
- Understand the different ways in which a corporation can be “shut down”.
- Understand the key tax issues associated with the taxable windup of a corporation. Understand the key tax issues associated with the tax-deferred windup of a corporation.
- Understand the key tax issues associated with the amalgamation of two or more corporations.
- Understand the key tax issues for the shareholders of corporations that are being “shut down”.
Who Will Benefit
Professionals who are involved in winding up/dissolving corporations or who advise clients that are involved in winding up/dissolving corporations. Particular focus will be placed on private companies.
Prerequisite(s)
Participants should be comfortable with the rules of the Income Tax Act and have experience with Canadian corporate tax.
How to Access the Course
This course is delivered as a live webinar. To receive verifiable CPD hours, you must attend the session live. We recommend joining at least 5 minutes before the scheduled start time. For the best interactive experience, please use a computer equipped with a camera and microphone.
A reminder email with the Zoom link and course details will be sent two business days before the session. If you do not receive it, please check your spam or junk folder.
The same information, including any available materials, will also be posted in advance on our Blackboard LMS.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Tom Pister, B. Comm., CPA, CA, LL.B. is a CPA and tax lawyer specializing in all facets of income taxation and estate planning in the private corporation and owner/manager contexts with particular expertise in the area of corporate reorganizations. He also represents clients on a variety of tax issues involving the CRA (including voluntary disclosures, tax audits, objections etc.). He has taught tax courses through CPA Ontario and the Ontario Bar Admission Course.