Chapter 6: Tax Planning Strategies

In this section

• Tax Planning Strategies
  Learn how to legally and strategically arrange finances to reduce tax liabilities in Canada, balance short-term tactics with long-term goals, and stay compliant with CRA regulations.
• Income Splitting
  Explore strategies and best practices for reducing a family’s overall tax burden by redistributing income among family members in lower tax brackets, including spousal RRSPs, prescribed rate loans, family trusts, and pension income splitting.
• Tax Shelters
  Discover how tax shelters operate in Canada, from legitimate vehicles like RRSPs and flow-through shares to the CRA's rules and anti-avoidance provisions, and learn strategies for effectively evaluating their economic substance.
• Other Tax Planning Strategies
  Explore key tax planning strategies beyond the basics of income splitting and tax shelters, including capital gains/loss planning, dividend income optimization, charitable donations, registered accounts, business incorporation, and estate freezes.