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Gold/Mining/Energy : Copper Fox -- Ignore unavailable to you. Want to Upgrade?

To: brundall who wrote (9204)

2/4/2015 7:29:38 PM

From: louel

1 Recommendation

Recommended By
minder

Respond to of 10654

There is an advantage to transferring the shares to the corporation if a buyout is envisioned. First losses personally can be balanced out against Capital gains from other sources. Secondly there is a difference in the tax rates.
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The Alberta personal amount was increased for 2015 by an indexation factor of 1.024. The Federal tax brackets and personal amount were increased for 2015 by an indexation factor of 1.017. The indexation factors, bracket thresholds and personal amounts for 2015 have been confirmed to Canada Revenue Agency amounts.
If your Personal taxable income is more than $44,701, but not more than $89,401

Federal tax rate × 22% Line 4
Alberta Provincial x 32%

Corporate taxable income.

Federal tax rate × 15% Line 4
Alberta tax rate x 10%

I left a significant amount of funds in the company when I retired. Removing some each year at a lower rate now that my income bracket has dropped. The way I see it is. The Govt's job is to collect as much tax as possible. A Citizens obligation is to legally pay the least they can. Helping to keep them frugally responsible