As of January 1, 2023, new legislation came into effect that may impact you. If you have purchased a property you are now looking to sell within the last 12 months, you may be impacted by this new legislation. To ensure you are aware of what your obligations are, we are recommending that you seek advice on your upcoming transaction from a professional accredited accountant.
Thinking About Paying Personal Expenses With Your Corporation’s Revenue? … Think Again
For some, owning an incorporated business can result in positive financial gains. Restraint must be practiced to not use these earnings for one’s personal expenses.
Today’s article by Jamie Golombek of the Financial Post, perfectly illustrates what can happen to anyone who chooses this course of action.