Thread: Canadians, Corporations and Taxes
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Old 08-08-2007, 02:06 PM  
WiredGuy
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Join Date: Aug 2002
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Quote:
Originally Posted by thebigmook View Post
Anyone know how much % tax you pay in Canada if you own a corporation?
I heard its around 22% for the first 200k, what about after that?

Also, say I were to create a corporation today. Could I transfer my earnings from Jan to now (earnings that are currently in my savings account) to the corporation and pay corporate taxes at the end of the year instead of personal tax?

Thanks
I'm not sure off hand the exact rates but the caps are 300k for federal and 400k for provincial (ontario at least). You can do some manipulation of your current year's income but get an accountant to help you with this.
WG
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Last edited by WiredGuy; 08-08-2007 at 02:07 PM..
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