Optimise My Company's Profit Outflow

There are a multitude of reasons for withdrawing funds from your business, and there are also many ways of going about it that will have tax consequences. There is no universally advantageous way of doing this, as each situation is unique.

The important thing is to determine the most tax-efficient strategy for your own situation. At Mallette, our experts take this into account by conducting a thorough analysis of the tax characteristics of your business and your capital needs, in order to develop the most advantageous strategy for you in the short and long term.

There are a number of factors to consider before taking funds out of your business, and with the expertise of our professional resources, you'll be able to keep your taxes to a minimum.

There are various ways of withdrawing funds from your business, such as :

• Remuneration of family members or yourself (salary, bonus)

• Payment of a taxable dividend in accordance with the rules governing income tax and the allocation of income to companies

• A combination of salary and dividend

• conversion of the full adjusted cost base (ACB) into cash

• Shareholder loan

• Repayment of shareholder loan

• Return of capital

• etc.

Proper planning will determine the best possible strategy and may even enable you to access your profits tax-free. However, new tax rules are making the decision-making process more complex, and our experts will be able to guide you towards the best solution.