Participants will learn the tax pathways for closing a corporation—taxable wind-ups, tax-deferred wind-ups, and amalgamations—and how each route affects the corporation and its shareholders. Participants will apply a planning-first approach to timing, losses, distributions, and compliance steps to minimize risk and optimize outcomes.

• Professionals who plan for or execute corporate shutdowns (dissolutions, windups, amalgamations). 
• Practitioners advising private corporations within corporate groups on end-of-life structuring and compliance. 

By the end of this course, participants should be able to: 

• Distinguish among taxable wind-ups, tax-deferred wind-ups, and amalgamations, and select an appropriate route for a given fact pattern. 
• Identify key tax consequences for the corporation (e.g., asset dispositions, year-end and payroll effects, loss preservation) and for shareholders (e.g., winding-up dividends, share dispositions, stop-loss rules). 
• Apply planning considerations such as the “bump,” paid-up capital and ACB impacts, and debt forgiveness interactions. 
• Outline compliance steps and risk mitigations, including clearance certificates, refund/interest topics, and post-dissolution assessments. 

Topics include: 

• Shutting-down alternatives: taxable wind-ups, tax-deferred wind-ups, and amalgamations—core mechanics and decision factors. 
• Corporate-level consequences: dividend treatment vs. share dispositions, asset sales, anti-avoidance considerations, taxation year changes, losses, and payroll items. 
• Planning tools and traps: the “bump,” PUC and ACB issues, stop-loss rules, and debt forgiveness. 
• Shareholder considerations: winding-up dividends, capital loss utilization, timing, and documentation. 
• Compliance wrap-up: clearance certificates, liability for tax debts, refunds and interest deductibility, and other administrative matters. 
• Case-based applications comparing shutdown alternatives. 

Course Content Created: November 2024

Presenter

About This Product

On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Where available, accompanying materials such as handouts or course notes are included.On-demand courses are eligible for verifiable CPD hours upon successful completion, and a certificate will be made available for download for your records.

Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.

Please note that not all on-demand courses include downloadable materials such as course notes or slides.

How to get started

After completing your purchase, go to mylms.bccpa.ca. Log in using your CPABC Online Services credentials. Click Go to Your Courses and Materials to access your Learning Center. Select your course title to begin.