For most successful business owners, one challenge that arises frequently is the
question of how to access their accumulated retained earnings in a tax efficient
manner. In reality, this is a question that is best dealt with well in advance of
when funds are required, but there are now many avenues available.
of the issues we consider is when the funds will be needed and what they are needed
for, such as whether they will be used for retirement income supplements or re-invested
personally. In some cases, the solution is rooted in estate planning. The answer
to these questions generally are not prohibitive, but rather help determine the
best strategy to achieve the desired outcome. Think of it as the key to unlocking
The Tax Act has numerous provisions to accomplish these objectives and one of the
rights established by the Canada Customs and Revenue Agency (CCRA) is that Canadians
can arrange their affairs to pay the least amount allowed under the law. Unfortunately,
many are simply not aware of all of the provisions available to them.
Strategic Edge, we always put tax planning initiatives ahead of investment planning,
in order to maximize the funds that can be invested, or spent, depending on objectives.
We start with gathering information, then work diligently to understand the specific
objectives, and finally, provide a variety of recommendations. We do not intent
to supplant your current advisors, particularly your accountant, whom we are pleased
to work with directly at no additional charge.
Our belief is that your legal and accounting advisors, controller, business manager,
and other members of your planning team, have already established the underlying
structure to accommodate your plans, which may include holding companies, inter-vivos
or testamentary trusts, wills, insurance programs and intricate succession plans.
We do not wish to circumvent the value of what has been done to date, but rather
augment that planning with the various vehicles at our disposal.
your retained earnings in a tax efficient manner, and delivering the funds when,
where and for the purpose you require, is a specialized field, and one we have found
existing advisors embrace as a valuable addition to their efforts in assisting you
in your planning.
Contact us today to access the information to access your money.