Watch a qualified CPA instructor teaching the course and access a copy of the same course material that is provided to attendees of an in-person session. 

After registering for a Video on Demand course, CPA Saskatchewan will send you information on how to access the course within 2 business days.

Click HERE for more information on Video-On-Demand courses.

OBJECTIVE:
Whether for performance reasons, planning reasons, or just because of the evolution of the life-cycle of a corporation (or its shareholders), CPAs are often required to assist in the “shutting down” of a corporation.  This may occur via dissolution, amalgamation, or wind-up.  The course discusses the key tax considerations to address in each of these scenarios.

Although there will be coverage of the issues associated with the winding-up of smaller “mom and pop” type corporations that are ceasing operations, this only represents a small portion of the course coverage.  The remainder of the seminar coverage will be more applicable to corporations within larger corporate groups.  As an intermediate level course, there will not be any coverage of specific issues related to T2 preparation. 

WHO WILL BENEFIT:
Professionals who are involved in winding up/dissolving corporations or who advise clients that are involved in winding up/dissolving corporations with particular focus on private companies.

LEARNING OUTCOMES:
By the end of this course, participants will develop a stronger understanding of:

• the different ways in which a corporation can be “shut down”,
• the key tax issues associated with the taxable windup of a corporation,
• the key tax issues associated with the tax-deferred windup of a corporation,
• the key tax issues associated with the amalgamation of two or more corporations, and
• the key tax issues for the shareholders of corporations that are being “shut down”.

CONTENT:

•  Taxable wind-ups.
• Tax-deferred wind-ups.
• Tax-deferred amalgamations.
• Issues impacting shareholders of corporations being shut down.
• Issues relating to winding-up dividends.
• Tax issues relating to the disposition of shares and debts.
• Debt forgiveness issues that arise on winding up.
• Losses.
• Clearance certificates, liability for tax debts, tax refunds, assessing a dissolved corporation.
• PUC and ACB issues.

PREREQUISITES:
Participants should be comfortable with the rules of the Income Tax Act and have experience with Canadian corporate tax.