,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

          ,9t]pret,n ,bullet9
    
,subject3 ,9come ,tax ,act
  ,corpor,ns ,us$ 0,practis+ ,memb]s (
  ,profes.ns
,numb]3 ,,it-#ahi;,r#b
,date3 ,may #bd1 #aiia
,ref];e3 ,sec;ns #i & #abe 7al sec;ns
  #aj & #cd & p>agraph #ah7#a77p77

               ,applic,n
    
  ,? bullet9 c.els & replaces ,9t]pret,n
,bullet9 ,,it-#ahi;,r dat$ ,febru>y #bg1
#aihd4 ,curr5t revi.ns >e 9dicat$
0v]tical l9es4

                ,summ>y
    
  ,? bullet9 d1ls ) corpor,ns us$
0practis+ memb]s ( profes.ns1 s* z law1
m$ic9e1 5g9e]+1 >*itecture or         #a
             ,,it-#ahi;,r#b          a#a
a3.t+4 ,^! practi;n]s may 2 employees (a
corpor,n : !y or _! relatives [n or
3trol & : c>ries on ! busi;s (!
profes.nal practice4 ,:ile ! tax tr1t;t
( situ,ns ( ? nature c only 2 det]m9$ af
asc]ta9+ all (! relevant facts (a giv5
case1 ? bullet9 4cusses "s (! applica#
provi.ns (! ,act & o!r g5]al guidel9es4

          ,4cus.n & ,9t]pret,n
    
        ,9corporat$ ,profes.nal
               ,practices
    
#a4 ,a corpor,n may 2 recogniz$ z c>ry+
  on a profes.nal practice un.s
  prov9cial law or ! regulatory body =!
  "picul> profes.n provides t only
  9dividuals may practice ! profes.n4
  ,if ? f/ 3di;n is met1 a corpor,n is
  recogniz$ z c>ry+ on a profes.nal
  practice if ! activities (! corpor,n &
  xs rel,n%ip 6xs employees & cli5ts >e
  simil> 6^? ord9>ily associat$ )a    #b
             ,,it-#ahi;,r#b          b#a
  corpor,n c>ry+ on a busi;s4 ,s*
  activities 9clude3
  7a7 [n+ or r5t+ ! premises (! busi;s1
  7b7 [n+ or r5t+ ! furniture1 fixtures
    & major equip;t (! busi;s1
  7c7 op]at+ a bank a3.t 9 xs [n "n "?
    prop]ly au?oriz$ sign+ (fic]s1
  7d7 pur*as+ nec supplies1
  7e7 provid+ cl]ical s]vices1
  7f7 bill+ cli5ts = profes.nal s]vices
    9 xs [n "n1
  7g7 deposit+ ! collec;ns 9 xs bank1
--------------------------------------#b
  7h7 pay+ sal>ies 69dividuals p]=m+ !
    profes.nal s]vices (f]$ 0a corpor,n1
  7i7 mak+ ! cli5ts aw>e t !y >e d1l+ )!
    corpor,n1 &
  7j7 ma9ta9+ an employ]-employee
    rel,n%ip 2t ! corpor,n &! 9dividual1
    )! s]vices 6be p]=m$ cle>ly set \ 9
    a dat$1 writt5 agree;t ":9 specific
    provi.ns det]m9e a r1sona# sal>y =!
    s]vices p]=m$4
                                      #c
             ,,it-#ahi;,r#b          a#b
#b4 ,if prov9cial law or ! regulatory
  body =! profes.n precludes ! practice
  (! profes.n 0a corpor,n1 9come deriv$
  f ! profes.n w norm,y 2 3sid]$ 6be
  e>n$ 0! 9dividual :o r5d]$ s*
  profes.nal s]vices & n 0a corpor,n4

            ,"w 9 ,progress
    
#c4 ,a corpor,n t is c>ry+ on ! practice
  (a profes.n )9 ! p>amet]s ( #b abv is
  requir$ 6det]m9e xs 9come on ! a3rual
  basis1 except t x may qualify 6make an
  elec;n "u sec;n #cd n 69clude 9 xs
  9come any am.t 9 respect ( "w 9
  progress at ! 5d (! ye> 7see ! curr5t
  v].n ( ,,it-#deg1 ,elec;n
  0,profes.nals 6,exclude ,"w 9
  ,progress f ,9come74 ,? elec;n may 2
  made only 9 respect (a busi;s t is !
  profes.nal practice ( an a3.tant1
  d5ti/1 lawy] 79clud+ a not>y 9 !
  prov9ce ( ,quebec71 m$ical doctor1
  vet]9>ian or *iropractor4 ,except   #d
             ,,it-#ahi;,r#b          b#b
  ": a valid elec;n has be5 made "u
  sec;n #cd1 "w 9 progress is requir$
  6be valu$ at ! ye> 5d & m/ 2 9clud$ 9
  -put+ ! 9come f ! profes.nal busi;s
  7see ! curr5t v].n ( ,,it-#dgc1
  ,9v5tory ,valu,n74 ,subsec;n #aj7#d7
  provides t = #aihc & subsequ5t tax,n
  ye>s1 ! fair m>ket value ( prop]ty t
  is "w 9 progress (a busi;s t is a
  profes.n m1ns ! am.t t c r1sonably 2
  expect$ 62come receiva# = t "w 9
  progress af ! 5d (! ye>4

          ,limits on ,deduc;ns
        ,0,profes.nal ,corpor,ns
    
#d4 ,a ,canadian-3troll$ private
  corpor,n 7see ! curr5t v].n (
  ,,it-#deh7 : c>ries on a profes.nal
  practice may 2 5titl$ 6! small busi;s
  deduc;n pursuant 6subsec;n #abe7#a71
  provid$ c]ta9 3di;ns >e met4 ,h["e1 6!
  ext5t t s* a corpor,n derives xs 9come
  =! ye> f c>ry+ on a 8p]sonal        #e
             ,,it-#ahi;,r#b          c#b
  s]vices busi;s0 or a 8specifi$ 9ve/;t
  busi;s01 ! small busi;s deduc;n is n
  availa#4 ,fur!rmore1 ! deduc;n (
  exp5ses 0a p]sonal s]vices busi;s (a
  corpor,n is re/rict$ 6! n>r[ range (
  items describ$ 9 p>agraph
--------------------------------------#c
  #ah7#a77p74 ,ref] 6! curr5t v].n (
  ,,it-#gc =a 4cus.n ( ^! topics 9 grt]
  detail4

     ,9e6ective ,>range;ts & ,%ams
    
#e4 ,9 "s cases1 a corpor,n 7or c]ta9 (
  xs transac;ns & busi;s >range;ts7 mi<t
  n 2 3/itut$ 9 a leg,y e6ective way4
  ,fur!rmore1 v>i\s acts & transac;ns
  7%ams7 mi<t 2 5gag$ 9 )! 9t5;n (
  misl1d+ \tside "pies1 ! ,de"p;t or !
  c\rts z 6! nature (! "rs & oblig,ns
  7if any7 : ! "pies !mvs actu,y 9t5d
  6cr1te4 ,= example1 ! corpor,n mi<t n
  9 fact c>ry on ! busi;s op],n1 x mi<t
  p]=m few or no s]vices1 xs          #f
             ,,it-#ahi;,r#b          a#c
  activities mi<t 3si/ ( ll m ?an a
  s]ies ( a3.t+ 5tries 9 xs books ( a3.t
  or xs manage;t agree;t )! practi;n]
  mi<t n 2 -pli$ ) or mi<t lack sub/.e4
  ,9 appropriate cases ( ? nature1 !
  9come purport$ 6be t (! corpor,n c 2
  tax$ z 9come (! 9dividual practi;n]s
  :o h1 9 fact1 c>ri$ on ! busi;s op],n4















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