RE:RE:RE:RE:RE:RE:RE:Great Revenue Growth ! WOW ! rapid_fire_ wrote: maypeters- If they changed the company structure from a MIC to a C- Corp , would it be better tax wise ?
That would depend on what type of account it is held in and your personal tax situation.
To the best of my understanding (all others feel free to clarify or correct)
If you hold it in a TFSA: if MIC no tax paid at any level. If C- Corp, tax is paid at corporate level (no dividend tax credit).
If held in RSP/RIF account,: if MIC tax is defferred and paid at your marginal tax rate when withdrawn from account. If a C- Corp, tax is paid at corporate level (no dividend tax credit in registered account) and then again at your marginal rate when withdrawn from account.
If held in a cash account:: if MIC tax is paid at your marginal tax rate. If C- Corp it is taxed at the corporate level but triggers a dividend tax credit.