Introduction to Corporations

The corporate component in Snap Projections was designed to model various holding or operating companies that are Canadian Controlled Private Corporations (CCPCs). That is, corporations residing in Canada that are not public or controlled by public corporations or non-residents.

You can model investing within a corporation and take out the funds from the corporation in the form of an owner's salary or shareholder's non-eligible, eligible, or capital dividends. This allows you to easily integrate the corporate assets as part of the retirement projections for the owners, with an ability to use the corporation as part of an income-splitting strategy, or compare if investing within the corporation is a sound financial decision, or rather the funds should be taken out and invested personally.

To start working with the corporate component, we recommend to:

1) Watch our short 8 minute overview of the corporate component.

2) Watch our recorded webinar that provides training on how to use the corporate module (45 min).

3) Review the definitions associated with the corporate component.

Please note that this feature is only available in the Advisor Business plan. If you subscribe to a different plan and want to access the corporate component, just click the dark blue Add Corporation button and you will be asked if you wish to upgrade.   Alternatively, please click on your initials in the top-right corner of Snap, go to Billing and upgrade to a new plan.

To add a corporation to your projections, click the Add Corporation dark blue header button. Or you can access Scenario Setup and then Corporations.

Please note that the area of financial planning involving corporations is complex and requires professional training/expertise that is beyond the scope of this online documentation of the Snap Projections software. Please make sure you have the required training before you use this component.

Note: The corporate component only applies to Canadian Controlled Private Corporations (CCPCs), not other private companies, personal services businesses (PSBs), public companies, or those claiming manufacturing & processing deductions. The tax rates are approximations and do not consider the use of business losses from prior years (non-capital losses), capital gains exemptions, and alternative minimum tax. Accruals for other assets and liabilities, such as receivables and payables, or loans are excluded. The Business Limit is not shared among multiple corporations as currently there is no functionality to identify related/associated corporations.

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