@samira2324 Yes, you can pay yourself dividends and salary. Note that the first $40,000 of dividends are tax-free if you have no other source of income. There are benefits to receiving a small salary and the remainder in dividends. For example, salary increases your RRSP room, increases your pensionable earnings, and allows for deductions such as child care expenses and automobile costs, which dividends do not.
Thank you very much for this reply
samira2324 3 weeks ago
@samira2324 You're more than welcome. Allan Madan, CA
allanmadan 2 weeks ago
Hi
Thanks for this video,
Can I pay Myself Salary and have my share of dividends as well?
samira2324 1 month ago
@samira2324 Yes, you can pay yourself dividends and salary. Note that the first $40,000 of dividends are tax-free if you have no other source of income. There are benefits to receiving a small salary and the remainder in dividends. For example, salary increases your RRSP room, increases your pensionable earnings, and allows for deductions such as child care expenses and automobile costs, which dividends do not.
Allan
allanmadan 3 weeks ago