When you die owning a corporation in Canada, the CRA can take up to 80% of its value through layers of taxation — leaving your family with almost nothing.

In this video, I break down how this actually happens using a simple $1 million corporation example, and why most business owners only discover this problem when it's already too late.

You'll learn:

• How CRA applies a deemed disposition when you die

• How a $1M corporation can trigger over $800K in total taxes

• How capital gains tax, dividend tax, and corporate tax stack together

• What "double" and "triple" taxation really mean in practice

• What post-mortem tax planning is

• What strategies can reduce the tax outcome from approximately 80% down to approximately 27%

• Why this issue affects employees, jobs, and entire communities — not just owners

• The three questions every incorporated business owner must ask their tax advisor

Here's the blog related to this topic on our website:
theadvisorstable.com

If you own a corporation, this is something you cannot afford to ignore. Without planning, years of work can disappear to taxes in a single event.

Blog: "5 Questions to Ask Your Advisor" checklist at theadvisorstable.com

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Comment if you've seen this happen in real life — or if you want a second set of eyes on your situation.

#AdvisorsTable #CanadianTax #EstatePlanning #BusinessOwners #CRA

Welcome to Episode 4 of Advisors Table.

In this episode, we walk through a real client scenario that highlights the risks of taxes on death and corporate structure planning. Learn how poor planning can lead to rushed asset sales and lost value — and how careful structuring can protect families and businesses.

In this episode, we cover:

• How taxes on death are calculated in Canada
• Risks founders face when planning is delayed
• Hidden tax and probate exposure
• What purification is and why it matters
• Estate freezes and family trust strategies
• Lifetime capital gains exemptions and maximizing them
• Post-mortem tax — double and triple taxation after death
• The importance of updated wills, trustees, and replacement trustees
• Executor risk and the importance of CRA clearance certificates

Take action now: understand your options, plan effectively, and protect your family and business from unexpected tax surprises.

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Watch now and leave your comments below.

Timestamps:

00:00 - Introducing the Case Study: Robert's $10 Million Tax Bill
02:30 - The Discovery Phase: Gathering Financial Information
04:40 - Understanding Family Dynamics and Objectives
07:45 - The Role of the Executor and Estate Administration
11:10 - The Liquidity Problem and Fire Sales of Assets
14:30 - Probate Fees and the Ontario Estate Administration Process
18:30 - Exploring Estate Planning Options: Gifting vs. Estate Freeze
22:30 - The Family Trust as a Flexible Tool for Control and Growth
26:30 - Trustees, Beneficiaries, and the 21-Year Rule
31:00 - Addressing Non-Resident Beneficiaries and Tax Implications
35:30 - Lifetime Capital Gains Exemption and Purification Strategies
40:30 - Updating Wills and Using Primary/Secondary Will Strategies
44:30 - Life Insurance as a Liquidity Solution for Tax Liabilities
48:30 - Uncovering Delinquencies: Foreign Reporting and Minute Books
52:30 - The Clearance Certificate and Finalizing the Estate
56:30 - The Problem of Double or Triple Taxation on Death
01:01:30 - Post-Mortem Tax Planning: Pipeline, Bump, and Loss Carryback
01:05:30 - Creating a Summary for the Executor and Ongoing Adviser Coordination
01:10:00 - Final Thoughts: Estate Planning as a Collaborative, Essential Process

The Canada Revenue Agency has officially ended a 14-year moratorium, putting incorporated truck drivers across Canada at risk of Personal Services Business (PSB) reclassification — which can mean higher taxes, denied deductions, and larger reassessments.

In this video, you'll learn:

• What the CRA's moratorium was and why its removal matters

• Why Budget 2025 allocated $77 million to enforcement in this area

• What a Personal Services Business (PSB) is and how the CRA defines it

• The employee vs. contractor test the CRA uses for truck drivers

• Why the CRA and labour authorities are now sharing information

• Practical steps incorporated drivers and trucking companies should take now

If you're an incorporated truck driver, owner-operator, or run a trucking company using contractors, this is not something you can afford to ignore.

Free Resource: Download the Employee vs. Contractor Checklist for Truckers at theadvisorstable.com

Subscribe for more Canadian tax and business insights.

Comment if you have questions — or if you'd like a follow-up video on voluntary disclosures or PSB audits.

#AdvisorsTable #CRA #TruckDrivers #PersonalServicesBusiness #TaxAudit #DriverInc #CanadianTax #TruckingIndustry

Welcome to Episode 3 of Advisors Table — where we break down the CRA’s Voluntary Disclosure Program (VDP) and the practical implications of the 2025 changes.

In this episode, we uncover:

• The difference between prompted vs. unprompted disclosures and why it matters

• How CRA letters, limited reviews, questionnaires, and public leaks can affect your VDP status

• Why timing and connection of issues determine whether your disclosure is considered prompted

• How to handle missing records and still make a valid disclosure

• Common fears: Will CRA see me as a “problem taxpayer”? Could future audits or inherited assets be affected?

• Why the VDP isn’t a planning tool or “second chance” loophole

• What to expect in terms of penalties, interest relief, and CRA discretion

Take action before CRA comes knocking. Know your options, reduce penalties, and get clarity.

Subscribe for weekly episodes.

Watch now and leave your comments below.

Timestamps:

00:00 - Introducing the Voluntary Disclosure Program (VDP)

01:30 - Overview of the VDP and Recent Changes

02:45 - Purpose and Benefits of the VDP

04:35 - Key Conditions for VDP Eligibility

06:15 - Understanding “Voluntary” and the New Tracks

09:30 - Impact of Third-Party Leaks on Eligibility

11:45 - Defining “Complete” and “Accurate” Disclosures

16:20 - Challenges with Data Collection and Estimation

19:45 - Relief Offered: Prompted vs. Unprompted Tracks

22:15 - Comparing the Old and New VDP Programs

26:00 - The VDP Application Process and RC199 Form

29:10 - Grounds for VDP Application Denial

31:45 - Making a Second VDP Submission

35:50 - Transition from the Old to New Program

38:10 - Practical Examples: Prompted vs. Unprompted

44:30 - Addressing Common Concerns and Misconceptions

49:05 - Fairness and the VDP as a Planning Tool

52:40 - Risks of Disclosure and CRA Discretion

56:20 - Practical Advice and Seeking Professional Help

59:45 - Long-Term Reputational and Future Implications

The 2024 AMT changes created some of the strangest tax outcomes in Canada — including situations where you can lose money or donate to charity and still owe a major tax bill.

In this video, I break down what changed with the Alternative Minimum Tax (AMT), why tax bills are suddenly higher, and two real examples every founder, investor, and donor should understand.

Watch to learn how AMT works and how to plan around it.

#TaxPlanning #CanadianTaxes #AMT #AlternativeMinimumTax #TaxStrategy

Welcome to Episode 1 of Advisors Table — where we unpack what it truly means to be sale-ready.

In this episode, we discuss:

• What “sale-ready” actually means
• How structuring early can save millions in tax
• QSBC shares & the $1.25M LCGE
• The CRA’s 24-month holding rule
• Purification: what it is & why it matters
• Asset sale vs. share sale
• How trusts multiply the LCGE
• Life insurance inside an InvestCo
• Buyer-side due diligence
• Hidden liabilities that kill deals
• Succession & intergenerational planning
• Bill C-208 and selling to your children

Timestamps:

00:00 — Introduction to the Business Exit Process
01:37 — Understanding the Exit as a Multi-Year Journey
04:01 — Identifying and Evaluating Potential Buyers
08:55 — Aligning Buyer Type with Seller Intentions
11:32 — Navigating Offers and Initial Negotiations
15:03 — The Letter of Intent and Due Diligence Phase
20:33 — Tax Planning and the Lifetime Capital Gains Exemption
29:40 — Qualifying for the Lifetime Capital Gains Exemption
36:48 — Case Study: Advanced Planning with an Estate Freeze
46:22 — Benefits of Using a Family Trust in Succession
52:45 — Selling to Family: New Rules and Paths
59:04 — Immediate vs. Gradual Succession to Family
01:04:50 — Share Sales vs. Asset Sales
01:10:31 — Case Study: How Poor Structure Can Kill a Deal
01:13:32 — Key Takeaways and the Importance of Early Planning

If you’re a business owner planning an exit — or an advisor supporting one — this episode is essential.

Subscribe for weekly episodes and insights.

Welcome to Episode 1 of Advisors Table — where we unpack what it truly means to be sale-ready.

In this episode, we break down:

• What “sale-ready” actually means

• How structuring early can save millions in tax

• QSBC shares & the $1.25M LCGE

• The CRA’s 24-month holding rule

• Purification: what it is & why it matters

• Asset sale vs. share sale

• How trusts multiply the LCGE

• Life insurance inside an InvestCo

• Buyer-side due diligence

• Hidden liabilities that kill deals

• Succession & intergenerational planning

• Bill C-208 and selling to your children

Timestamps:

00:00 - Introduction to the Business Exit Process

01:37 - Understanding the Exit as a Multi-Year Journey

04:01 - Identifying and Evaluating Potential Buyers

08:55 - Aligning Buyer Type with Seller Intentions

11:32 - Navigating Offers and Initial Negotiations

15:03 - The Letter of Intent and Due Diligence Phase

20:33 - Tax Planning and the Lifetime Capital Gains Exemption

29:40 - Qualifying for the Lifetime Capital Gains Exemption

36:48 - Case Study: Advanced Planning with an Estate Freeze

46:22 - Benefits of Using a Family Trust in Succession

52:45 - Selling to Family: New Rules and Paths

59:04 - Immediate vs. Gradual Succession to Family

01:04:50 - Share Sales vs. Asset Sales

01:10:31 - Case Study: How Poor Structure Can Kill a Deal

01:13:32 - Key Takeaways and the Importance of Early Planning

If you’re a business owner planning an exit — or an advisor supporting one — this episode is essential.

Subscribe for weekly episodes.

Watch now and leave your comments below.