Salary vs. Dividends: What’s the Best Way for Canadian Business Owners to Pay Themselves?
Thinking about how to pay yourself from your corporation — salary, dividends, or a mix of both? This is one of the most important decisions any incorporated business owner in Canada will make, and it can have a huge impact on your taxes, retirement savings, and even your ability to qualify for a mortgage!
In this episode of Beyond the Plan, we break down the pros and cons of paying yourself a salary vs. dividends. We’ll look at how much you need to draw from your corporation, the tax implications of each method, and key financial planning considerations — including RRSP contribution room, CPP benefits, and qualifying for credit.
Whether you’re a new entrepreneur or a seasoned business owner, these insights will help you optimize your income, reduce your tax burden, and build a more secure financial future.
Don’t forget to like, share, and subscribe for more expert financial planning tips!
Timestamps:
0:00 – Introduction
0:47 – Meet Jamie: The Case Study
1:36 – The Canadian Tax System: Integration Explained
1:55 – How Salary-Only Works
2:25 – Pros of Salary
3:15 – Additional Salary Benefits
3:39 – CPP Disability Coverage
3:55 – How Dividend-Only Works
4:28 – Pros and Cons of Dividends
5:05 – How the Hybrid Strategy Works
5:35 – Pros of the Hybrid Approach
6:04 – Comparison Table: Salary vs. Dividends vs. Hybrid
6:36 – How to Decide: Key Considerations
6:54 – Conclusion
About Marnoa Private Wealth Counsel:
Marnoa Private Wealth Counsel provides investment management and financial planning services to high-net-worth individuals, families, and organizations across multiple Canadian Provinces and the United States.
Find us online at https://m.mtrbio.com/marnoawealth
Видео Salary vs. Dividends: What’s the Best Way for Canadian Business Owners to Pay Themselves? канала Marnoa Private Wealth Counsel Ltd.
In this episode of Beyond the Plan, we break down the pros and cons of paying yourself a salary vs. dividends. We’ll look at how much you need to draw from your corporation, the tax implications of each method, and key financial planning considerations — including RRSP contribution room, CPP benefits, and qualifying for credit.
Whether you’re a new entrepreneur or a seasoned business owner, these insights will help you optimize your income, reduce your tax burden, and build a more secure financial future.
Don’t forget to like, share, and subscribe for more expert financial planning tips!
Timestamps:
0:00 – Introduction
0:47 – Meet Jamie: The Case Study
1:36 – The Canadian Tax System: Integration Explained
1:55 – How Salary-Only Works
2:25 – Pros of Salary
3:15 – Additional Salary Benefits
3:39 – CPP Disability Coverage
3:55 – How Dividend-Only Works
4:28 – Pros and Cons of Dividends
5:05 – How the Hybrid Strategy Works
5:35 – Pros of the Hybrid Approach
6:04 – Comparison Table: Salary vs. Dividends vs. Hybrid
6:36 – How to Decide: Key Considerations
6:54 – Conclusion
About Marnoa Private Wealth Counsel:
Marnoa Private Wealth Counsel provides investment management and financial planning services to high-net-worth individuals, families, and organizations across multiple Canadian Provinces and the United States.
Find us online at https://m.mtrbio.com/marnoawealth
Видео Salary vs. Dividends: What’s the Best Way for Canadian Business Owners to Pay Themselves? канала Marnoa Private Wealth Counsel Ltd.
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22 мая 2025 г. 21:05:44
00:08:40
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