We believe that proper tax structuring and planning is key to a successful outcome of transactions or investments.
There are many opportunities to split income between family members if you run your own business to be able to lower the overall tax burden of the family. An addition to this is that pension splitting can be a way to minimize the taxes that you owe.
Dividends vs. Salary
Choosing if you should take dividends or salary is unique to each situation and the right decision is based on individual needs.
Using shareholder loans can be an excellent tax planning tool, but keep in mind that strict rules need to be adhered to in order to take advantage of this tax “loophole.”
Tax planning is a very important process that is done in order to reduce all taxes owing to the Canada Revenue Agency and tax laws are constantly evolving.
We provide tax planning, and assistance with the following:
- Structuring your Business
- Incorporating or Registering a Sole Proprietorship
- Reviewing Books and Records to Determine a Tax Minimization Strategy
- Tax Filings whether Current or Past
- Mergers and Acquisitions
- Real Estate Purchase and Sales
- Shareholder Agreements
- The Principal Residence Exemption
- Tax Shelters and Gifting Arrangements
- Lifetime Capital Gains Exemption
- International and Offshore Tax Issues
- United States
- Transfer Pricing
- Scientific Research and Experimental Development Tax Incentive Program (SR&ED)
- Employee and Executive Compensation
- Pension Plans
If you are looking for a comprehensive tax plan so that you can pay less in taxes, call us today!
Invictus LLP’s website contains information of a general nature, was not created to provide legal advice, and you must not rely upon it for legal advice. All tax related matters are fact-driven and will differ from the scenarios we have provided. If you have questions and need tax and legal advice, please contact al lawyer at our office for help!