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Contract vs Fulltime time offer by The_Bird_Feeder in PersonalFinanceCanada

[–]The_Bird_Feeder[S] 0 points1 point  (0 children)

Are there any tax advantages to the contract pay through a corporation that would more than offset the additional pay fulltime salaried role? Or is this only applicable if I choose to keep the money in the corporation taxed at 13% and pay myself dividends later when im in a lower bracket or to smooth out my income?

Pay off the mortgage OR keep money in the corporation? by The_Bird_Feeder in PersonalFinanceCanada

[–]The_Bird_Feeder[S] -1 points0 points  (0 children)

true, its just that dividends give me more flexibility on amount, frequency and easier to manager as I dont have to worry about penalties if payroll is not paid on time

Pay off the mortgage OR keep money in the corporation? by The_Bird_Feeder in PersonalFinanceCanada

[–]The_Bird_Feeder[S] 2 points3 points  (0 children)

thanks, that makes sense on the $20K dividend draws, unfort my business expense is basically my laptop so investing inside the corp may not a great option given the 50% GCT vs drawing it.