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Frequently asked questions (FAQ)
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What are the benefits of a notarized protection mandate in the case of incapacity?
The notarized protection mandate is an original and unalterable legal document that can always be found, as it is registered with the Chambre des notaires du Québec. On the other hand, a protection mandate signed in the presence of witnesses will only come into effect after a homologation procedure before a court or notary. The latter is a more expensive option than the notarized protection mandate.
What are the benefits of a protection mandate in the case of incapacity?
With this legal document, you are able to determine who will make the important decisions related to your health and who will administer your property. Without a protection mandate, a group of family members, allies and friends will be required to select a person to take care of you which, in itself, may create difficulties. It is also within this document that you can express your opposition to therapeutic intervention (life-prolonging measures).
What are the benefits of a notarized will?
A notarized will takes effect immediately upon death and is not subject to probate, contrary to other types of wills. As an expert in estate law, a notary is the most qualified professional to properly advise you on how to protect your loved ones.
Why is it always better for a lessee to register the lease of his business premises at the land registry?
If the landlord sells the property, the new owner will not have the obligation to honour the lease and can terminate it with a 12-month notice unless the lease has been registered at the land registry. In this case, the new owner will have the obligation to honour the lease in its entirety and until the end of the term previously agreed with the original landlord.
What should be in a shareholders’ (or partnership) agreement?
Generally, the shareholders’ agreement (or partnership agreement) will include:
- the terms under which the owners can exit from the business, either during their lifetime or due to death;
- how decisions will be made in the business; and
- the responsibilities of owners between themselves and towards the business.
What are the different legal structures for a business?
Other than a sole proprietorship, there are several other legal structures available to operate a business such as a corporation (one or more shareholders) or a partnership (minimum two partners), be it a general partnership or a limited partnership. Various legal and/or tax matters need to be considered in order to choose one over the other.
When do we need to register for consumption taxes (GST/HST, QST) and start charging?
A business needs to be registered for the GST and QST (consumption taxes) when its total taxable receipts exceed $30,000 in the course of a given calendar quarter or in the four previous calendar quarters. In this case, the business is no longer considered a « small supplier ».
The « small supplier » threshold is increased to $50,000 for public sector organizations including non-profit organizations and charities.
Should a self-employed worker incorporate?
From a tax stand point, the incorporation of a self-employed worker is advantageous when the business generates more income than what is necessary for the worker’s personal needs. If all of the business income is used personally, then incorporating the business has no tax advantages since it is impossible to benefit from lower business tax rates. Of course, other factors also need to be considered in order to make a sound decision.