Moving company from Alberta to BC... I'm so lost..
 

Hey guys,

Finally decided to move my Alberta company to BC... the main reason for this is I reside in BC and it will allow me to write more expenses off.

So here's how it is...

I have a gst #, i am a incorporated AB ltd numbered (no name) company.

My company does oilfield inspection and we dont sell goods, just my services.

I have about 50k in the company account and its just sitting there.. I dont want to have to close down my Alberta company and claim all this money as personal income and pay taxes though the nose.

I have no idea where to start and neither does my Alberta accountant who is impossible to get a hold of.

Please if anyone knows what i should do let me know!!!

I was reading up on CRA and TILMA but couldnt find any of the answers I want. TILMA makes me think I could regsiter the company to operate in BC, but i also want my company bank account in BC, my head office and my company vehicle.

Please let me know what info i need to provide if I've left anything important out!

If anyone on here is an accountant and wants to have a new client as well.. get in touch with me.

Jason

Thanks

hmm, from what i remember. you set up a numbered company here in BC, and set it so that the assets & whatever of the alberta company is sold to the BC company. then the rest is pretty straight forward, setting up bank accounts and whatever based of the set up BC company.

make sure to sell it at bookvalue so none of the companies have a gain/loss. if you have those u'll pay cap gains tax :).

for the remaining 50k. you can pay ur self a dividend of upto 40k tax free. read up on the T2 dividend on the CRA site.