If a lawyer has a net practice income of $ 130,000 and has personal living expenses tallying up to $ 70,000, they will be taxed $ 39,600 under a proprietorship but only $ 31,000 as a professional corporation, he said. (canadianlawyermag.com)
For example they could have proposed that every licensed lawyer be required to either serve as an articling principal, or else contribute x % of his / her law practice income to a fund used to compensate lawyers who do serve as articling principals. (noelsemple.ca)
Secondly, the PLAP eligibility criteria is now modified by a means test where the applicant must have a net annual practice income of less than $ 50,000 to be eligible. (slaw.ca)