Overdue thought on extracting tax free via sale of business

Tim jr opens newly incorporated holding company (Newco) Newco buys shares of home care from Tim Sr & spouse (tax free small business= exemption) in exchange for notes payable  Home care pays dividends over time to holdco tax free (inter corporate conne= cted dividends)  Holdco gradually repays balance of note to Tim Sr. And spouse  money (can be) disbursed amongst family members (I won’t tell) All amounts are tax free (minus initial small business tax rate in home care= prior to inter co dividend payout) Happy belated Canada day  Adam Patone Contact 21 Financial Services Inc 1610 Ste-Catherine West Suite 407 Montreal, Quebec H3H 2S2=