How Can I Lower My Tax Bill by Income Splitting with My Spouse? Watch Video
Allan Madan, CPA, CA
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Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CPA, CA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
Hi Allan, I am starting a renovation company with my Son, Is incorporating a company the best way to go for us, we will split all the income/bills between us… I have read that incorporating reduces liability? Thanks
Hi Sam, Canadian controlled private corporations pay a low rate of tax of only 13.5% (as of January 1, 2018) on business profits made, including profits from renovations. So incorporating can help you save tax.