Salary vs Dividends - Learn to Pay Less Tax

00:00 - Intro

00:31 - Paying Yourself a Salary

00:55 - How Paying Yourself a Salary Works

01:17 - Why Choose Salary

01:26 - Salary Builds RRSP Contribution Room

01:49 - Salary Helps Avoid Surprise Tax Bills

02:34 - You Contribute to CPP with Salary

03:18 - Salary Helps Qualify for a Mortgage

03:38 - Salary Can Help Qualify for Subsidies and Tax Credits

04:15 - How to Pay Yourself a Salary

05:04 - Paying Yourself Dividends

05:13 - How Dividends Work

05:44 - Why Choose Dividends

05:50 - Dividends Remove CPP Costs

06:31 - Paying Dividends is Simple

06:57 - Dividends Reduce Chances of CRA Penalties

07:30 - Dividends Can Decrease Employer Health Tax Costs

08:07 - How to Pay Yourself Dividends

09:17 - Salary vs Dividends - How They're Taxed

10:11 - Salary vs Dividends - Which Creates Less Tax?

10:50 - Salary vs Dividends - Tax Comparisons

11:14 - Salary vs Dividends - Tax Comparison Example 1

12:26 - Salary vs Dividends - Tax Comparison Example 2

13:46 - Salary vs Dividends - Summary of Factors to Consider

14:14 - Final Thoughts🥣😆