Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Principal Issues: whether optometrists are allowed to have non-voting shares of professional corporations held by family members under the Ontario Business Corporations Act.
Position: No. Referral to Minister of Government Services for Ontario.
Reasons: The law
September 27, 2010
XXXXXXXXXX
Dear XXXXXXXXXX :
Thank you for your correspondence of August 6, 2010, concerning shareholders of health professional corporations under the Ontario Business Corporations Act.
You indicate that, under the above-mentioned legislation, dentist and physician corporations are allowed to have non-voting shares held by family members of their professionals. You suggest that optometrists should also be allowed to have their family members own non-voting shares of their health professional corporation under this provincial legislation.
As this matter is the responsibility of the Honourable Harinder S. Takhar, Minister of Government Services for Ontario, I am forwarding a copy of our correspondence to him for consideration.
I trust that this referral is helpful.
Yours sincerely,
Keith Ashfield
Minister of National Revenue
c.c.: The Honourable Harinder S. Takhar, M.P.P.
Minister of Government Services for Ontario
Room 4320, Whitney Block
99 Wellesley Street West
Toronto ON M7A 1W3
G. Moore
957-2141
2010-037802
August 24, 2010
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