Our client, a high-income Canadian professional, had accumulated significant excess cash in his corporation, which he invested in Guaranteed Investment Certificates (GICs). Although GICs provided a low-risk return, the income generated was taxed at a high corporate rate of 50.67%, impacting the growth of his investments. Concerned about the high tax rate and seeking a more tax-efficient strategy, the client consulted us at Raman Nat Inc. for expert guidance.
Learn how Raman Nat Inc. helped a high-income professional reduce corporate tax on investments by adjusting his portfolio, achieving a 20% effective tax rate and maximizing after-tax returns.
High Corporate Tax on Passive Investment Income from GICs
A team of 30 seems like quite a significant resource to focus on the digital pound,” Ian Taylor, an adviser to the trade association CryptoUK, told the Times. “It shows the impact it would have, and that the bank are serious about it.
Mitchel Krytok – Quote
Tax-Efficient Investment Strategy with Raman Nat Inc.
Lower Corporate Tax Rate and Increased After-Tax Investment Growth
About Raman Nat Inc.
Raman Nat Inc. Chartered Professional Accountant is a trusted tax consulting firm located in Vancouver, BC, offering specialized financial services to professionals and small businesses. Our comprehensive suite of services includes corporate tax planning and preparation, bookkeeping, financial consulting, and business advisory, all designed to meet the unique needs of our diverse clientele. Contact: info@rncpa.ca
#tax-advantagedaccounts #rrsp, #tfsa, #fhsa, #incomesplitting, #spousalrrsp, #prescribedloans, #familydividends, #businessexpenses, #homeofficeexpense, #vehicleexpense, #professionaldevelopment, #deferredincome, #bonus, #pensionsplitting, #smallbusinessdeductions, #sr&edcredits, #apprenticeshipcredits, #commontaxpitfalls
