Re: Accountants-HELP! how do I xfer private funds to Ontario corporation?

In article <[EMAIL PROTECTED]>, 
[EMAIL PROTECTED] says...
> Hi. I have a incorporated my business in Ontario Canada and have set up a 
> business bank account. 
> 
> What is the proper (Legal) way to fund the corporation? can I just take 
> funds from my personal bank account and transfer them to the business 
> account?
Yes you can. The accounting entry for the corp would be debit bank, 
credit shareholder loan account.

> or do I have to issue shares? 
> 
You could raise more capital in the corp by issuing more shares, but if 
you have incorporated, presumably shares have already been issued. Have 
they not?

> Also, for tax purposes, will all money I transfer to my corporate account 
> be considered revenue? and thus taxed at the corporate tax rate?
No. It would be considered a shareholder loan.

> 
> 
> 


You can transfer your personal funds to the corporation via your 
shareholder loan account. Shareholder