As the Shareholder of your company, how do you actually get your money out? Here are a few ways: Wages ​Pay yourself a salary from your corporation Dividend This would be after corporate tax money. When you report this on your personal T1 you will receive a dividend tax credit Shareholder account If you have ever loaned money to your business, you can take it out tax free Be careful that you don't take too much money out of your business as it might cause you a few problems

Did you know that as a director of a corporation you are liable for certain tax debts of the corporation? The corporation is considered to hold employee source deductions and HST in trust for the government and as such a director can be personally assessed for unpaid amounts. The director can also be personally assessed interest and penalties on these unpaid amounts. Keep this in mind when considering acting as a director of a corporation. For more information please cont