Agboola Law

07/25/2026

What an incredible honour!

I am grateful that Agboola Law was selected as a recipient of the 2026 Kitimat Business Builders Competition grant.

My sincere thanks to the District of Kitimat, Kitimat Chamber of Commerce, and all the sponsors whose investment in local businesses makes opportunities like this possible. Your support encourages entrepreneurs to keep building businesses that strengthen our communities.

Congratulations as well to the other outstanding businesses recognized through this initiative. It was a privilege to share the experience with you, and I look forward to seeing each of you continue to grow and make a lasting impact in the Northwest.

Agboola Law is committed to providing exceptional legal services with integrity, consistency, and genuine care for our clients. This recognition is both humbling and motivating, and I am excited for what lies ahead.

Thank you again for believing in local businesses.

07/09/2026

Active Paws Academy is helping dogs and owners live calmer lives.

07/09/2026

https://agboolalaw.com/why-you-should-write-a-will/

As you grow older, the need to have a written will becomes more important. A lawyer can give you the guidance you need to write your will.

06/25/2026

06/01/2026

https://agboolalaw.com/signing-a-contract-in-british-columbia/

Entering into a contract in British Columbia signifies that you are committing to a legally binding agreement, subject to the regulations of provincial laws as well as federal statutes.

05/27/2026

https://bcbuylocal.com/business/agboolalaw/

LOCO works to build the local economy and strong communities by directing and increasing purchasing to and between BC-owned businesses.

05/15/2026

What business structure is right for you?

You have a great product idea, you have done your preliminary research, and identified a market. Now you are wondering, “What is the best way to structure my business?”

In British Columbia, Canada, the simplest form of business model is the sole proprietorship. In this model, the business owner operates the business independently, handling all day-to-day administration and decision-making. The owner enjoys all the profits generated by the business but also bears all the associated liabilities.

Alternatively, a business owner may choose to share responsibilities by forming a partnership with another party. In a partnership, each partner contributes according to an agreed-upon arrangement. Partners collaborate in decision-making and jointly share the business's assets and liabilities. The Partnership Act recognizes three forms of partnerships: general partnerships, limited partnerships, and limited liability partnerships.

Business owners may also choose to be separate from their businesses by applying to incorporate a company. As a legal personality, separate and distinct from the individuals who compose it, it can exercise the powers conferred on it by law (just as a natural person), and has the capacity for continuous existence. A company may be limited by shares, be a community contribution company, a benefit company or have unlimited liability.

Furthermore, a group of individuals can establish a cooperative to advance their business concept. Membership in a co-operative is designed to be inclusive and non-discriminatory, allowing individuals from diverse backgrounds and experiences to participate. The only conditions for membership are to contribute to the co-operative's objectives and adhere to its foundational principles.

Although this information offers a valuable summary, it should not be considered a replacement for professional legal counsel. If you require personalized legal advice tailored to your specific circumstances, you may schedule a consultation at https://calendly.com/oagboola-agboolalaw

04/25/2026

When navigating your private and business affairs, one critical aspect that requires careful consideration is the influence of taxes on your financial decisions. A particularly significant rule in this context is known as the ‘deemed disposition rule’, which operates under the Income Tax Act as enforced by the Canada Revenue Agency (CRA). This rule is applicable across all provinces in Canada, making it essential for taxpayers to understand its implications.

Essentially, when a taxpayer disposes of an asset and realizes a profit, the profit is classified as a capital gain and is taxed. However, certain situations may arise where no actual sale occurs, yet a sale is considered (that is, deemed) to have taken place. One notable example of this is when an individual, whether a natural person or a corporate entity, ceases to be a resident of Canada. In such cases, the law presumes that the individual has sold all their assets despite there being no real transaction. Consequently, the profit becomes subject to taxation. Another significant instance falls upon an individual’s death. Upon passing, the law assumes that the taxpayer has sold all their assets at fair market value immediately before death. The profit generated from the difference between the original purchase price and the deemed sale price is then subject to taxation.

While this overview highlights the mechanics of the deemed disposition rule, it's crucial to note that these situations often come with a host of exceptions and can involve intricate calculations. Therefore, seeking professional advice can be invaluable when planning for these scenarios and navigating the complexities of tax implications.

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