Income tax for personal services businesses (PSBs)

More individuals and sole proprietors in Canada are choosing to incorporate. Find out if your newly formed corporation qualifies as a PSB and how that can impact your tax situation.

Event Details

Location and date:
Online On-Demand Event

In recent years, there has been an increase in CRA audits of PSBs, matching a steady pace of more individuals who are self-employed opting to incorporate. This webinar will explore the ramifications of incorporation and the pros and cons of taxation as a PSB, including:

  • how to optimize corporate taxes payable for a PSB
  • what additional tax must be paid when income is distributed as dividends
  • how to determine when it makes sense to earn money directly as an incorporated employee

You will also hear about new legislation (effective January 1, 2016) on how investment income is taxed within a Canadian-controlled private corporation (CCPC).

After this webinar, you will:

  • understand the rationale behind the increase of individuals opting for incorporation
  • know the federal tax implications of active business income, non-active business income and income from a PSB
  • be more familiar with new legislation that changes tax rates for investment and passive income of CCPCs
  • be able to define a PSB
  • determine whether income earned is from a PSB
  • be able to apply the four-fold test and the source concept
  • feel confident about what the CRA will ask if auditing for a potential PSB
  • have a strong grasp on recent court cases related to PSBs

Please note:

There is a pre-study component to this webinar. Participants must first watch a recorded video and be ready for a Q&A period during the live cast.

Additional options and pricing may be available. See pricing and registration for more details.



$175.00

4 CPD hour(s)
Pricing & registration

More Details:

Speakers/Presenters

Contacts

Please contact:

CPA Canada Professional Learning and Development Customer Service
Tel: 1-888-337-3242
Email: pld@cpacanada.ca

Highlights

Gain practical organizational insights and learn from industry experts at this annual event for not-for-profit financial leaders.