Incorporating your business or investment portfolio makes more sense now. If you and your spouse can live on $440,000 less tax per year you should incorporate and invest your funds through your corporation. The top rate applicable to a corporation earning investment income is 46.17% in Ontario and the top tax rate of a corporation earning business income is 26.5% in Ontario, while the first $500,000 of business income in a corporation is taxed at 15.5% in Ontario.
Check the link below to our website and read our Q&A on benefits of incorporating.
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in this newsletter