General:

. What are your office hours?
. Office hours are Monday to Friday, 9am to 5pm (Atlantic Time). In urgent situations, lawyers may sometimes be contacted at work after hours. Our Lawyers

. Where exactly on Spring Garden Road are you located?
. We are between South Park and Robie Streets - a block and a half from the corner of Spring Garden Road and Robie Street. Our sign is on the face of the Building at 5880 Spring Garden Road. There is ample parking both in the lot next to the building and on Spring Garden Road, Carlton Street and Summer Street. Click Map

. Is there anyone available to notarize a document?
. Yes. Just call first to confirm availability (429-6264). The cost will be $30 including HST if the document(s) are complete.

Methods of Payment/Fees:

. What are your methods of payment? Do you take Visa, Mastercard, American Express?
. We accept payment for fees and the usual disbursements by way of cash, cheque, VISA, MasterCard and American Express. To pay by VISA, MasterCard or American Express, visit our offices or call Wendy Roy, our Office Administrator.

. How do you charge for your services?
. It depends on the arrangement agreed to with you. Some services are usually provided on a fixed quote basis such as incorporations and residential real estate transactions without complications. We are open to discussing a fixed fee for other matters in which we feel we can accurately estimate the amount of time and effort that will be required.

Some other services are provided on a contingency fee basis. Usually this is restricted to personal injury litigation and is based on a percentage of the settlement or damage award.

Other services are billed on an hourly rate basis. Our lawyers charge hourly rates starting at $130 up to $280 for the more experienced lawyers. We are pleased to estimate fees in advance but reserve the right to adjust if we notify you that matters are involving a greater effort than originally estimated.

We are open to discussing any alternative fee arrangement that is fair and reasonable under the circumstances.

Legal fees and costs, including amounts mentioned in this website, are subject to 13% Harmonized Sales Tax (HST - the combined Goods and Services Tax and Provincial Sales Tax which is applicable in Nova Scotia). Disbursements are additional and most are subject to HST.

Our invoices are payable in 30 days from invoicing and interest is payable at the rate of eighteen percent (18%) annually on overdue accounts.

Incorporation:

. Should I incorporate?
. Advantages of a corporation over an unincorporated business (i.e., a sole proprietorship or partnership) include:

1. "Active business income" of a corporation (to a maximum Small Business Limit of $400,000 in Nova Scotia) is generally subject to a lower combined Federal and Nova Scotia corporate tax rate (currently 16%) than if such income were earned by individuals in a proprietorship or partnership. Thus, $0.84 of each dollar of profit (to a maximum of the Small Business Limit) retained in the corporation can be retained for investment in the business after the corporate taxes are paid. Income paid out of the corporation to individuals is taxed at the higher personal tax rates.
2. A person receiving dividends from a corporation will ultimately pay slightly less combined corporate and personal taxes on those dividends than had they earned it personally - but this only applies to income derived from the Small Business Limit.
3. If a corporation commences a new business it can qualify for a new Small Business Tax Deduction from the provincial component of the corporate income tax rate for the first three years of operation. Only certain situations will qualify for this tax holiday, which can have the result of reducing the corporate tax rate from 16% to 11%. An application and certificate of eligibility is required each year.
4. A Nova Scotia resident individual can obtain an equity tax credit for investment in common shares of a qualifying Nova Scotia corporation at the rate of 30% (proposed to be increased to 35%) to a maximum tax credit of $15,000.
5. A corporation is a separate legal entity from the individual owners or managers and therefore generally the owners or managers are not personally responsible for debts or obligations of the corporation. However, there are some exceptions: directors liability for payroll deductions, HST, Workers Compensation premiums and certain costs such as environmental clean up costs where directors cannot prove due diligence.
6. Sale of shares of a corporation by an individual can qualify for the capital gains exemption of up to $750,000 if the applicable requirements are satisfied (the requirements refer to the type of business carried on by the corporation, the assets held by the corporation, residence of the corporation, length of time the shares were owned).

1. The cost of incorporation and that such cost is amortized over time and cannot be expensed in the first year. There are also additional costs of filing a separate tax return for the corporation and higher annual registration fees with the Registry of Joint Stock Companies.
2. The inability to offset losses against income of the former owner since the corporation is a separate legal entity. If the business was operated as a proprietorship and the proprietor had other income, it could use the losses of the unincorporated business to offset income earned in another business or employment.
3. Shares are taxable property. On death of an owner of shares, the shares are subject to capital gains taxation and if appropriate steps are not taken, subsequent sale of the assets by the corporation could result in additional tax liability to the corporation.

1. An unincorporated business cannot pay dividends. Generally, salaries and bonuses are only deductible for tax purposes if they are reasonable for the services performed. If at the inception of the business, a spouse or other individual purchases shares for a nominal price, then subsequent income earned by the corporation can be distributed as a dividend to that individual regardless of the effort expended by that individual on behalf of the corporation.
2. If an existing business is to be transferred to a corporation, income tax and HST issues need to be addressed. Otherwise capital gains, loss of tax cost base and HST can be triggered on the transfer of the business assets to the corporation.

Disclaimer:

This website is intended to provide you with general information about Coady Filliter and about some common legal issues and questions. Although we endeavour to include up-to-date and accurate information, it is not intended to be relied upon for legal advice for any specific matter. Therefore, do not rely on such information as legal advice. We encourage you to contact one of our lawyers regarding your specific legal matter either by telephoning us or sending us an email (Our Lawyers provides you with a directory of lawyers).  If you wish to send us an email about a general inquiry, please click on Contact Us.

Thank you for visiting our website.