Self-Employed and Business Matters Lawyers in Vancouver

When negotiating a settlement, factors such as self-employment and business ownership contribute to the complexity of a couple’s individual financial status. We can help make sure you’re treated fairly by taking all factors into consideration, including taxes.

Self-Employed and Business Matters

The starting point in determining a person’s income is Line 150 from their most recent income tax returns. For self-employed individuals, Line 150 is often adjusted when calculating support payments to truly account for total monetary benefits received. 


Due to the variable nature of self-employment income, professional valuations are crucial. The same can be said for business valuations. Relevant financial documents often rely on self-report—forensic accounting experts may be called upon when necessary. 


The value of businesses are typically divided equally between parties. A number of strategies can be relied upon to mitigate costly tax implications or liquidation. Consult a family lawyer for guidance.

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Self-Employed and Business Matters
Frequently Asked Questions

  • Can I keep my business?

    Your spouse is entitled to half the value of your business. Common exclusions include the value of assets that you brought into the relationship and any gifts or inheritances you received that remain traceable to the business.


    You may keep the business provided you pay the equalization value of your spouse’s one-half interest. If you are unable to satisfy equalization payments with assets outside of the business, you may have to encumber, sell, or liquidate your business to satisfy the equalization payment. Other options available through out-of-court negotiations.

  • Does my spouse become a shareholder in my business as a result of the separation?

    It is highly unlikely that your spouse will become a shareholder in your business if there are other feasible ways of dividing the value of your business, including reapportioning other assets.

  • Am I required to disclose third-party shareholders in the business?

    Information about third-party shareholders and owners with respect to the business should be disclosed to the extent that there is sufficient information to accurately assess the value of your interest in the business.

  • Will forensic accounting be required to ascertain the value of the business and the income my spouse derives from it?

    In most situations, no. Forensic accounting is a costly and timely exercise that costs tens of thousands of dollars, although it may be warranted under highly suspicious circumstances.

  • Are minority shareholder discounts deducted from the value of the business?

    The value of the business may be reduced by a minority shareholder discount provided the value of your interest in the business is affected by the fact that others have control of the business.

  • Who pays for the business valuation?

    As the valuation is used to assist both parties in resolving the issue of business division, both parties share the cost.

  • Will the business I inherited from my family be subject to division?

    Yes. However, the value of the business when you inherited it, or at the time of relationship commencement—whichever is later—is an exclusion to family property, which will be deducted from the value of the business now subject to division.