Hi I just wanted to confirm something.
If an owner manager of a corporation (100% ownership) who compensates themselves through payroll and wants to opt-in for EI (Pat/Mat Leave).
Registration on the relevant Government of Canada website done already)
How do they pay for the EI - schedule 13 of the T1 return? I presume they DON'T pay EI through payroll deductions. Is my understanding correct?
Hi just checking if I have unused RRSP contributions from prior year due to overcontributions (2024) and I made overcontributions towards RRSP in the current year (2025), instead of withdrawing the funds from my RRSP, can I just allocate it towards my HBP (home buyers plan) payments?
Hi, I went completely over my RRSP limit and over contributed in 2025. this has resulted on my 2025 tax return showing "unused contributions into future years" being $5,000. What is the best course of action?
I have my own small business corporation in Ontario - I am single and under 65 – I was wondering what was the most tax efficient way of me withdrawing from my company. I have two options -
Scenario 1 : either $90k salary
Scenario 2 : $80k salary + $10k dividend.
Which one is more tax efficient taking into account my total tax exposure (corporate and business ? I heard somewhere it is more tax advantageous to take a salary and wanted to confirm this is the case?