Speak With a Lawyer to Sell Your Business
Are you looking to sell your business? We help Canadian business owners across all industries sell their business, from the initial Letter of Intent (LOI) stage, to the purchase agreement, throughout due diligence and satisfaction of conditions, and to the closing date of the transaction. We reduce the risks of selling an existing businesses by minimizing employee liability and ensuring purchaser’s indemnity. Most importantly we ensure your sale is sheltered from capital gains taxation by utilizing the Lifetime Capital Gains Exemption, whereby each shareholder will pay no tax up to the limit presently set at $866,912
- Letter of Intent
- Assignment of lease agreement
- Where Vendor Take Back (VTB Vendor Loan) ensure adequate security
- Ensuring completion of s167 ETA Election (GST44) to neutralize HST on sale
- Ensuring minimization of employee liability exposure
- Winding up and dissolution of corporation after asset sale
- Business advisory during sale re tax filings, elections, and obligations moving forward including final stub T2 Income Tax Return and closure of HST and Payroll accounts
- Share Purchase Agreement / Asset Purchase Agreement
- Satisfaction of all other conditions to firm up deal
- Ensure General Security Agreement, Share Pledge and PPSA Lien registered
- Ensuring tax and WSIB clearance certificates provided to maximize indemnity
- Preparation of all closing documents
- Purification of corporation through s.85 rollover to ensure CCPC and QSBC shares for LCGE
- Ensure Lifetime Capital Gains Exemption (LCGE) utilized where sale of shares