Gowling WLG is pleased to share that it has partnered with BDO Canada and the Canadian Tax Foundation (CTF) on the writing and publication of the fifth edition of Taxation of Private Corporations and Their Shareholders.

The book is a well-known resource for Canadian mid-market private businesses, as well as their shareholders and advisers, when it comes to understanding complex tax legislation. The latest edition reflects a thorough update, taking into account the new rules, enacted in 2018, on income splitting through the use of private corporations. In particular, implications of the tax on split income (TOSI) rules are given comprehensive treatment.

The book also offers detailed analyses of a broad range of subjects essential to the area, including:

  • Incorporating a business
  • Corporate entities
  • Capitalization of corporations
  • Distributions to owner-managers, employees, and family members
  • Acquiring and disposing of assets
  • Drafting of shareholders' agreements
  • Purchasing and selling of a business
  • Consequences of a shareholder's death
  • Tax-effective business structures

Authors

Tax partners John Sorensen and David Stevens served as Gowling WLG's co-lead authors on the project. Additional writing from Gowling WLG was provided by Paul Carenza, Laura Gheorghiu, Colin Green, Carole Chouinard, Robert Hagerman, Brian Cohen, Mariam Al-Shikarchy, Dan Hayhurst, Malya Amghar, Spencer Ebbert and Anita Yuk.

"We were thrilled to collaborate with the Canadian Tax Foundation and BDO Canada to produce the latest edition of Taxation of Private Corporations and Their Shareholders. For Gowling WLG's Tax Group, the book has always been a helpful  resource we draw upon when working with our own private company clients – from mid-sized businesses to high-net-worth individuals." - John Sorensen

More information

  • With over 30 tax professionals in offices across Canada, Gowling WLG's Tax Group is recognized by Chambers Global and the International Tax Review as a leading law firm in the areas of tax, transfer pricing, tax planning and indirect tax.

  • BDO Canada LLP is a leading provider of professional services to clients of all sizes in virtually all business sectors. Their team delivers a comprehensive range of assurance, accounting, tax, and advisory services, complemented by a deep industry knowledge gained from nearly 100 years of working within local communities.

  • Founded in 1945 as an independent tax research organization under the joint sponsorship of the Canadian Institute of Chartered Accountants and the Canadian Bar Association, the Canadian Tax Foundation provides a unique forum for lawyers, accountants, academics and other tax professionals to work together for the betterment of the Canadian tax system and the tax profession in general.