The following information is for general use only and may or may not be applicable to your specific situation. Furthermore, Income Tax legislation is constantly being modified and as such, the information presented here may or may not be relevant with respect to current Income Tax legislation.

• Income Splitting
- Family members who earn low-levels of income and perform some duties for the business can be paid a salary from the business. This will reduce the overall income of the corporation. The income earned by your low-level income earning family members will also be taxed at the lowest marginal tax rate. Remember, the payments must be reasonable for the duties performed.

• Maximizing CCA
- CCA is the expense taken overtime on assets used by the business to earn income (i.e. equipment, computers, vehicles, furniture, etc). The deduction is discretionary and as such does not have to be taken in full every year. The maximum deduction should be taken every year to reduce income subject to taxation, especially for assets that are not expected to increase in value over time.

• Tax-Free Corporate Re-Imbursements
- There are many opportunities for business owners to receive tax free payments from their corporations. Payments of Capital Dividends, RDTOH, and capital reimbursements, should be made as soon as possible.