Compensation Planning

Perhaps the most important issue for many business owners is how to compensate themselves.

We can determine the most tax-effective way to remunerate business owners. Key considerations include:

  • Salary vs. dividends
  • Amount of bonus and methods of distribution among owners or partners
  • Income splitting with spouse and children
  • Compliance with regulatory authorities (CPP, EI, Income tax withholdings, EHT)
  • Monthly income needs
  • Shareholder loans
  • RRSP funding
  • Education funding