Tax optimization
Keeping more of what you earn is just as important as growing your wealth. Smart tax planning isn't about avoiding tax - it's about understanding how different account types, income sources, and timing strategies can work together to reduce your overall tax burden.
In Canada, there are a number of strategies and tools that can help optimize your taxes, including:
Income Splitting
Tax-Efficient Investing
Registered Accounts (RRSPs, TFSAs, and FHSAs)
Capital Gains Planning
Tax Optimization for Corporations and/or Incorporated Professionals
The key is aligning your tax planning with your broader financial goals. For example, RRSPs may reduce your taxable income during high-earning years, while TFSAs provide flexibility and tax-free withdrawals in retirement. If you're incorporated, decisions around salary versus dividends can affect both your personal and corporate tax outcomes. And if you're supporting family, income splitting with a lower-income spouse or adult child can create long-term savings.
Effective tax optimization is not a one-time event - it's an ongoing strategy that evolves with your income, life stage, and financial goals.
Please contact us if you'd like a personalized review of your current strategy and ways to improve your tax efficiency.
