A company could face 60% tax on unintentional payout of excess amounts from its capital dividend account
Federal government passed new rules and incentives for EOTs in June
Year-over-year insolvency levels have been rising for more than two years
Incorporated professionals must consider deferral, dividends and deductions
Business owners should compare EOTs with other exit options
Consumer insolvencies also increased in January, but not nearly as sharply
Surge reflects struggle with pandemic debt, higher interest rates
Edmonton-based firm looks to draw business-owner clients from the big banks
Almost 900,000 businesses received an interest-free CEBA loan during the pandemic, securing up to $60,000
Bill C-59 addresses issues flagged in the draft legislation