Hi all,
I currently have an incorporated company which I use to provide software consulting. That will be where all my income is coming from. It is a one man company, just me.
I plan to purchase properties under my own name. Can the company write a cheque for the down payment of my target properties? Or will I have to have the company pay myself via dividend or employment income, then write the cheque myself?
I am hoping that I can avoid getting paid myself, just to pay for a down payment.
If this can be done, what kind of complication will it add to the tax aspect of the company. The company does not own the property, I do.
Thanks for any advice!
Nepoez
I currently have an incorporated company which I use to provide software consulting. That will be where all my income is coming from. It is a one man company, just me.
I plan to purchase properties under my own name. Can the company write a cheque for the down payment of my target properties? Or will I have to have the company pay myself via dividend or employment income, then write the cheque myself?
I am hoping that I can avoid getting paid myself, just to pay for a down payment.
If this can be done, what kind of complication will it add to the tax aspect of the company. The company does not own the property, I do.
Thanks for any advice!
Nepoez