SHARMA & ASSOCIATES tax tips and traps are updated regularly, so check our website for free tax tips and traps.

Recent Tax Savings

REGISTERED RETIREMENT PLAN – (RRSP)
Contribute the maximum amount to your RRSP if you have no other options.
To find out how much you can contribute, take a look at your last years Notice of Tax Assessments.

Call us to review your current year’s taxes and we can advise you accordingly.

SALARY VS DIVIDEND
As you know Canada Pension Plan (CPP) rates are skyrocketing and CPP funds may not be available by the time you reach to your retirement. We have the solutions for you to reduce CPP contribution and save money in other funds or plans now for your retirement funds.

Talk to us about the difference between Salary and Dividends

If you own a company then you have some options:

  • Salary
  • Dividends
  • Shareholder withdrawal
  • Income Splitting
  • Estate freeze
  • Other various ways based upon your situation