With the 2021 tax year upon us, there are numerous questions about the tax implications of eligible dividends for both businesses and individuals. As a tax expert in Surrey British Columbia Canada, I would like to provide a comprehensive overview of eligible dividends, their advantages and disadvantages, and the tax benefits for both corporations who...Read More

Wage vs Dividends Planning This strategy involves paying the owner-manager a combination of salary and dividends to optimize their personal tax situation and minimize the overall tax burden. Salary/wages: Considered a deductible business expense, reducing th corporation’s taxable income. Contributes to the Canada Pension Plan (CPP) and may increase future CPP benefits for the owner-manager....Read More