Manitoba Optometrists Operating Through Professional Corporations

Recent developments and the coming into force of new amendments to The Optometry Act (Manitoba) (the "Act") and the Manitoba Association of Optometrists bylaw will soon allow optometrists to incorporate and operate through professional corporations, without significant restrictions.

These changes can yield significant tax advantages and potential savings as the optometrist in the professional corporation can retain and invest certain income and defer the taxes until a later time.

Corporate Name Approval

Before an optometrist can incorporate and practice through a professional corporation, an application for approval of the corporate name must first be submitted on behalf of the optometrist and consent obtained from the Manitoba Association of Optometrists to the incorporation.