TSX:BPO.PR.A - Post by User
Post by
pierrelebelon Apr 28, 2024 6:53pm
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Post# 36011868
Canadian Taxation
Canadian Taxation It is always frustrating to communique about taxation. So many people have opinions and so few understand the facts.
For example, a couple living in Ontario and dividing their income more or les equally can earn up to $111,000 a year without paying a penny income tax on their "eligible" Canadian dividends.
On the other hand, eligible dividends deposited into an RRSP or RRIF lose the advantages of the dividend tax credit and the 50% reduction in capital gains as all amounts coming out of RRSP and RRIF are fully taxable.
How to handle your investments keeping in mind the eventual income tax that will have to be paid - use a competent investment adviser who understand and can halp guide you. Much depends on your age, personal circumstances, province of residence and other income.
Whatever you do.... DO NOT ASSUME.
Many readers may find this https://www.taxtips.ca/taxrates/on.htm interesting.