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Canadians can also take advantage of a special account where all interest and profits are not subject to income taxes, known simply as the tax free savings account (TFSA) A Roth IRA offers Americans a different saving program that offers compounded benefits for young investors. Money transferred ...
Turning back to the CCPC issue, consider the income earned by a CCPC when it invests business income that is eligible for the SBD. Owing to the SBD, the first $500,000 of the active business income (“SBD income”) is subject to a tax rate that is typically much lower than the share...