TAX LAWYER

Neufeld Legal P.C. - Toronto . Calgary . New York City

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LEGAL COUNSEL FOR TAX PLANNING + TRANSACTIONS

Taxes play an important role in the global economy, and as such have become a necessary evil in the corporate business world. For whereas every business must pay its requisite tax liability, there is nothing that requires a company to pay in excess of what the law requires. As such, structuring one's business operations and commercial transactions to minimize taxes, when done in compliance with applicable laws and regulations, is an intelligent exercise in business and financial management.

Meeting this challenge, such that your company remains compliant with pertinent tax laws, regulations and legal interpretations thereof, while optimizing its profitability, is an undertaking that should be pursued in conjunction with knowledgeable tax lawyers who are committed to the dual pursuits of strict legal compliance and permissible tax minimization strategies. Attempting to undertaking tax structuring that is not compliant with the law is a recipe for disaster and should not be the route of any business.

The reality is that tax authorities the world-over are becoming increasingly effective in detecting and pursuing deceptive and illegal tax-related activity, with the penalties being significant and the disposition of those misappropriate tax savings making it exceedingly difficult to repay those tax authorities the taxes that are owing, together with interest and penalties. As such, tax compliance needs to be an integral component of corporate tax strategy.

Neufeld Legal P.C.

At Neufeld Legal P.C., we work with corporate businesses to optimize, strategize and implement both long-term and transactional tax planning; however, we do not undertake tax litigation or tax disputes. Our legal team works on proactive tax measures, as opposed to reactive tax matters where previously developed and implemented tax matters come under legal scrunity by the relevant tax authorities.

To learn how we can be of assistance, contact Neufeld Legal P.C. by telephone at 416-887-9702 (Toronto + Ontario) or 403-400-4092 (Calgary + Alberta); email at Tax@NeufeldLegal.com; or Skype at Christopher.Neufeld.

Tax Planning Facts
Corporate income tax rates for corporate income earned by a Canadian controlled private corporation (CCPC) based upon substantively enacted legislation as at December 31, 2012 for tax year 2013 forward would see a Gross Federal Rate of 11.00% (based on a federal corporate rate of 38.00% less the federal abatement of 10.00% and less the small business deduction of 17.00%), though subject to the addition of provincial tax thereon (i.e. Ontario 4.50%; Alberta 3.00%).
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Corporate income tax rates for corporate income earned by a general Canadian corporation based upon substantively enacted legislation as at December 31, 2012 for tax year 2012 forward would see a Gross Federal Rate of 15.00% (based on a federal corporate rate of 38.00% less the federal abatement of 10.00% and less the rate reduction of 13.00%), though subject to the addition of provincial tax thereon (i.e. Ontario 11.50% [with manufacturing and processing being 10.00%; Alberta 10.00%).


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