It is the percentage of company stock you own that determines whether you are regarded as a business owner. If other family members own company stock, you should include their shares when calculating your ownership stake.
Rules for calculating your ownership stake:
Your shares (at least one)
+ shares owned by your husband/wife/registered partner
+ shares owned by your children
+ shares owned by your parents
= your ownership stake
If your ownership stake is at least 33.33 per cent, you are considered to be a business owner.
You should not include your cohabitant’s or your sibling’s shares when you calculate your ownership stake.
Family members can also be business owners
If you count as a business owner, your family members may also count as business owners.
Children and parents
If you are a business owner and have children or parents who own at least one share and are active in the company, they also count as business owners.
Husband/wife/registered partner
If you are a business owner and have a husband/wife/registered partner who is active in the company, they will also count as a business owner, even if they own no shares.
Cohabitant
If you are a business owner and have a cohabitant who owns more than 33.33 per cent of the company stock and is active in the company, they will also count as a business owner.
Rules for calculating your cohabitant’s ownership stake:
Cohabitant’s shares
+ shares owned by your cohabitant’s children
+ shares owned by your cohabitant’s parents
= cohabitant’s ownership stake
Your cohabitant should not add their shares to your shares to calculate their ownership stake.