I currently have a sole propriatorship in Alberta and am buying an existing corporation that I sub contract for at the moment. Is there any legal way to structure the transfer of shares so the cost of the purchase becomes fully tax deductible under the Canadian Tax code and more importantly would not be questioned by CRA? Can I use another corporation to buy this one? Can my sole propriatorship buy it? Should I purchase the shares under my name?
Most of my earnings currently come from this corporation and the coporation is the one that has the contracts I wish to service.
Thanks for your help.
Geaddict
Corporate purchase question
Moderator: Mark T Serbinski CA CPA