Owner/Manager Remuneration Strategy
A successful remuneration strategy involves carefully assessing each entrepreneur’s situation and applying the tax rules to achieve the best results. It also requires being up to date on changes to tax rates and rules.
At RMR, we take advantage of the opportunities available to effectively minimize tax through appropriate income splitting with family members. Opportunities exist for income splitting with non-minor children, spouses and, in some cases, minor children. A careful review of each situation is required to match the client with the relevant opportunities. Often the use of family trusts provides significant benefits.
In recent years, corporate tax rates have been substantially reduced and therefore tax-planning strategy has changed. It’s important to integrate the new tax rates into your plan.