Deferred payment: commercial vehicles and cabs

In order to support the commercial sector and businesses, the Quebec government and the Société de l’assurance automobile du Québec are announcing the deferral of payment of the amounts required to maintain the right to circulate for commercial vehicles and cabs until September1, 2020. The 5-month payment deferral will enable companies to retain close to […]

A few tools to help you through the crisis

No one can accurately predict liquidity needs in the current economic crisis. On the other hand, we have to work on it.   Here are a few tools:   Three (3) major measures are now in place for businesses: The Government of Canada’s BCAP program: click here The Quebec government’s PACTE program: click here 10% […]

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

|self-employed sell company pay taxes

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?