Self-employed – How can you sell your business tax-free?

Did you know that you can sell shares in a small business corporation tax-free thanks to the capital gains deduction? In fact, every individual resident in Canada can benefit from a total amount of $848,252 in 2018 (indexed annually) as a capital gains deduction on the sale of eligible shares.

However, is it possible for a self-employed person who doesn’t operate his or her business within a corporation to benefit from the same exemption in the event of a sale?

GST/QST, How to correct a mistake without affecting your finances too much?

The complexity of sales tax rules can lead to misunderstandings and errors in their application. Also, errors in transaction accounting may occur in accounting systems, resulting in taxes not being properly reported on tax returns. How can this be corrected without excessive cost?