Episode 2 - Owner-managed businesses Part 1: how to pay yourself

Welcome to part one of a four‑part miniseries where Frankie and Sarah will focus and highlight key areas of interest for owner‑managed businesses.

In this episode, Frankie and Sarah talk about different ways business owners can pay themselves, various tax benefits, and the drawbacks of dividends and income splitting.

Join Frankie and Sarah as they discuss: 

• The difference between a salary and dividends
• Why there are tax implications when you spend business income freely
• How you can take advantage of tax benefits from dividends
• The benefits and drawbacks of income splitting
• What Tax On Split Income (TOSI) is

Resources:

• Tax On Split Income (TOSI)
• BakerTilly – Avoiding and Getting Off of The TOSI Highway

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