Canadian business owners tax planning review


Tax planning review end of the year is also a good time to reassess and review whether you’re achieving the most effective tax savings opportunities for the future in:

  • Your tax rate
  • Your tax-assisted savings strategy
  • Your other investments
  • Your family tax planning
  • Your trust arrangements
  • Claiming your credits and deductions
  • Special situations.

Review your your personal marginal tax rate

You should consider your personal marginal tax rate and that of your business, registered retirement savings plan (RRSP) contribution room (a salary of $132,333 in 2012 provides the maximum in contribution room for 2013), and provincial health or payroll taxes. For example, it is Read more