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Salary or dividends for an incorporated physician

Salary or dividends for an incorporated physician

by Ghuman & Associates | Jul 28, 2026 | Canadian Tax

Salary or dividends for an incorporated physician Key takeaways Only salary creates RRSP room and CPP contribution history for the physician. Dividends do not create RRSP room, do not count as earned income for CPP, and do not generate contribution room for future...
The associate dentist personal services business trap

The associate dentist personal services business trap

by Ghuman & Associates | Jul 27, 2026 | Canadian Tax

The associate dentist personal services business trap Key takeaways A personal services business loses the small business deduction, paying about 27 percent on all income from the first dollar. PSB status also adds an extra 5 percent federal tax and denies nearly all...
Paying family from a veterinary corporation: what TOSI allows

Paying family from a veterinary corporation: what TOSI allows

by Ghuman & Associates | Jul 27, 2026 | Canadian Tax

Paying family from a veterinary corporation: what TOSI allows Key takeaways The “excluded shares” exception to the tax on split income is not available to a veterinary professional corporation. Splitting income with family without triggering TOSI relies on...
How much tax does incorporating save a chiropractor

How much tax does incorporating save a chiropractor

by Ghuman & Associates | Jul 26, 2026 | Canadian Tax

How much tax does incorporating save a chiropractor Key takeaways A chiropractic corporation pays about 11 percent on the first $500,000 of active income. Income above $500,000 is taxed at about 27 percent. The benefit is deferral: income left in the corporation grows...
Selling a pharmacy: the capital gains exemption

Selling a pharmacy: the capital gains exemption

by Ghuman & Associates | Jul 25, 2026 | Canadian Tax

Selling a pharmacy: the capital gains exemption Key takeaways The Lifetime Capital Gains Exemption for 2026 is $1,275,000 on qualifying share sales only. On an asset sale, drug inventory is valued and expensed as it is sold, equipment is taxed as recapture, and...
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