Declaring Dividend -How do I write this in the minute book?

anyone?

You could use Google to find a template and customize it for your situation or just write out the particulars in your own language carefully documenting what you are doing and have it signed appropriately. I think the important thing is to document, sign and date everything for the record. If you are a privately held corporation, this document is less likely to be viewed by others and so the "formality" of it may be less important. But make sure you just record all the pertinent details for the record.

EDIT: This may help.
https://www.canadianbusinessresources.c ... -dividend/

You need to prepare director resolution

hightech wrote: ↑ I wanted to take a dividend out of my corporation and have a big minute book that was part of my incorporation package. I am not sure where or what to put down.

Is there a form someone can point me to so that I can download, complete it, and put it in my minute book? I just want something where I can say that ABC corp declares $XXX dividend Dec 31 and pays it on Dec 31 to Me.

I have never done this before so I just wanted to make sure I did it right and send a copy of it to my Accountant.

Thanks

Don't forget to file a T5 with CRA for the dividend.

Blazin_Sunfire wrote: ↑ Don't forget to file a T5 with CRA for the dividend.

Thanks for the info.

Does one need to declare dividends at the same time every year or can they change the frequency of them? For example, can I declare/pay them in Dec and then declare/pay it in April, or May or any other month? Is there any CRA issues when doing this?

hightech wrote: ↑ Thanks for the info.

Does one need to declare dividends at the same time every year or can they change the frequency of them? For example, can I declare/pay them in Dec and then declare/pay it in April, or May or any other month? Is there any CRA issues when doing this?

you can declare dividends whenever you want! that's a business decision. As long as they are appropriately reflected in your tax return and any other required forms/documents in the year they were paid out.