Business and Corporate

We act for more than 200 small and medium corporations and businesses. Murray Lott is a director of several businesses himself – including Central City Brewers and Distillers (makers of “Red Racer” beer) - and has almost 40 years of experience in the business. We can set you up a company overnight, or help you with the purchase or sale of your business, or negotiate a creative Shareholders or Partnership agreement for you. Creative business advice when you need it.

Advice for small businesses

  • Contract preparation
  • Leases and assignments
  • Advice on employment and personnel issues
  • Financing documentation
  • Partnership agreements

Services

  • Incorporations including specialized share structures
  • Acting as corporate records office
  • Preparation of shareholders and directors minutes and resolutions

Business Sales and Purchases

Only lawyers can advise you on legal matters. If problems arise, you need someone on your side.

Before deciding between a notary and a lawyer, keep in mind that only lawyers can:

  • Share purchases and sales
  • Asset purchases and sales

Litigation

  • Debt claims
  • Contract disputes
  • Injunctions
  • Mediation
  • Construction disputes

Succession Planning

  • Estate freezes and family trusts

Our Dedicated Team

Our Team works together closely to provide you with assistance on any questions you may have throughout the process. There is always someone available to assist you with your case.

Murray Lott

Senior Lawyer

Lucky Uppal

Lawyer

Nancy Boufeas

Corporate Records Assistant

Testimonials

Thank you so much for helping me incorporate my company. The process was very smooth and quick. I would highly recommend people to use Delta Law Office as much as possible.

Power of Attorney Administration

Danny T.

2019-10-15

Frequently Asked Questions

I just started a small business, what are some of the benefits and drawbacks of incorporation?

There are two main reasons to incorporate: limiting liability and tax benefits. An incorporated business is a separate legal entity, which limits your personal liability in the event that something goes wrong. If creditors start chasing your company for outstanding bills, or a client sues your business over a problem with your product or service, being incorporated means your personal assets, such as your home and your car, are beyond their reach. There are exceptions to this protection, such as personally guaranteed loans and government tax obligations.

The two main tax benefits to incorporating are tax deferral and income splitting. Earning income through a corporation instead of as an individual allows for tax to be deferred. Small businesses enjoy low tax rates on business income which offers tax advantages for reinvesting in your business. Tax on business income is deferred until the income gets moved out of the business to shareholders by way of a dividend.

Income splitting allows your family members to hold shares of the corporation even though they are not active in the business. If those family members are taxable in a low-tax bracket, then the family as a whole will pay less tax than if you had earned all the income personally. The major drawbacks of incorporating a small business are financial. Incorporating costs money. Incorporated businesses must file more paperwork, such as separate tax return and annual filings with BC Registry Services. Another drawback is that losses in an incorporated business cannot be personally claimed.

If you are starting a business with anticipated losses and few legal risks, you may want to delay incorporating your business until it has become profitable enough to afford the costs of incorporation and to take advantage of the available tax savings and deferrals.