@canadianexpats: Are you a Canadian business owner planning to run your corporation from abroad? 💻 Before you pack your bags, you need to understand how your residency status impacts your corporate taxes! To benefit from the highly efficient small business deduction in Canada, your business must be a Canadian-Controlled Private Corporation (CCPC). However, the moment the controlling shareholders move abroad and become non-residents for tax purposes, the company loses its CCPC status! Losing this status means your corporate tax rates on active business income can jump significantly, sometimes doubling overnight. To ensure a seamless transition, work with a cross-border professional before you move to determine if you should distribute your retained earnings, close the corporation, or set up a new entity in your new home country. Every business situation is completely unique, but I’d love to know—are you an entrepreneur planning a move abroad? Let's discuss in the comments! 👇 Disclaimer: This content is intended as general information only and is not to be relied upon as constituting legal, financial, or other professional advice. Every case is different, and your specific situation must be evaluated and handled on its own merits. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date, but its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. #CanadianExpats #CanadianBusiness #CrossBorderTax

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Sunday 31 May 2026 04:50:49 GMT