As the Shareholder of your company, how do you actually get your money out?
Here are a few ways:
Pay yourself a salary from your corp...
How to take money out of your business.
February 10, 2015
Remembering our heros
November 11, 2014
New Child Tax Benefits
September 29, 2016
December 2, 2016
TFSA is an acronym for Tax-free Savings Account, which allows Canadians aged 18 and older with a valid social insurance number to make annual contributions, up to a specified limit. Starting from Janaury 1st, 2016, the annual contribution limit for TFSAs has decreased from $10,000 (in 2015) to $5,500. Previous contributions have not been affected therefore the accumulated contribution room through 2016 is $46,500.
Be careful when making contributions as there is a 1% penalty per month on any excess contributions. Remember, money removed this year cannot be re-contributed until next year.