Incorporated, but unsure of how the law requires you to maintain your books and records?

Under the Alberta Business Corporations Act, or the Canada Business Corporations Act, a corporation must prepare annual resolutions of the shareholders and directors to approve the annual financial statements.

We review the financial statements and balance sheets of a corporation and prepare the annual resolutions approving of these statements as required by the governing legislation on an annual basis. Corporate resolutions often include authorizing the payment of capital dividends from the non-taxable portion of a corporation’s capital gains, eligible dividends extracted from a corporations General Rate Income Pool (GRIP), share redemptions, management bonuses and other forms of year-end resolutions in order to extract retained earnings from the corporation in the most tax efficient manner.

We negotiate and draft shareholder agreements and provide succession planning and exit strategy advice. If there is a shareholders’ dispute, we can offer objectively creative options and alternatives to resolve the dispute and minimize the related costs for our clients. We also provide numerous services and valuable advice with respect to the organization; governance, and dissolution of corporations.

Take advantage of our breadth of knowledge in the area in tax and corporate law by contacting us today.

CRA Resources

Keeping Records

Business Records

IC05-1R1 – Electronic Record Keeping

IC78-1oR5 – Books and Records Retention/ Destruction

Invictus LLP’s website contains information of a general nature, was not created to provide legal advice, and you must not rely upon it for legal advice. If you have questions and need corporate and legal advice, please contact our office for help!