Regulated medical professionals in Ontario have had the option to incorporate their practices since 2001. This option can provide significant tax savings advantages to medical professionals, if their practice is generating revenue beyond what they require for day to day living expenses. In converse...

The question of what constitutes a general partnership versus a cost sharing arrangement has important tax consequences for professional corporations and is an issue increasingly being reviewed by CRA. The main tax advantage for professionals using a cost sharing arrangement is the ability for each...