Corporate purchase question

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geaddict
Posts: 1
Joined: Sat Dec 27, 2014 6:01 pm

Corporate purchase question

Post by geaddict »

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
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nelsona
Posts: 18690
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Not a cross-border accounting issue. Please consult a local professional.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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