What is better for you: Salary or Dividend
Options to Withdraw Funds: The two most popular options to withdraw funds from the business are taking a business salary or dividends. A third option is to take a loan from the business; however, it is a temporary withdrawal as the loan is to be repaid. Below is a comparison of salary and dividends: Comparison […]
RRSP – Should I Maximize?
Common Perspective: Maximize RRSP! When it comes to savings for retirement, nothing can beat it! Reality: Always consider below before investing in RRSP: Current income level and expected tax bracket upon retirement. It is not advisable for those in the lower tax bracket and those who expect to be in higher tax bracket upon retirement […]
Renting Principal Residence – Changings in Principal Residence
Renting Principal Residence – Change in use of Principal Residence What is Principal Residence: Principal Residence is the housing unit that is ordinarily inhibited by taxpayer or his spouse. Even if a person inhabits a housing unit only for a short period of time in the year, this is sufficient for the housing unit to […]
Tax Deadlines
Below are key income tax filing and payment deadlines Tax filing and Tax Deadlines Avoid interest and penalties by filing and paying tax liabilities before deadlines Individuals Filing date for 2025 tax year Apr 30, 2026 Individuals Payment date for 2025 tax year Apr 30, 2026 Self-employed and their spouse Filing date for 2025 tax […]