Posted by Tim Stobbs on November 20, 2006
Well it happened and I didn’t even notice until I was reading on taxtips.ca that SK finally changed their tax laws to account for the federal enhanced dividend tax credit.
What does it mean? Well if your like my wife who collects all the dividends (taxable accounts) it means she actually gets a reduction on her other income by getting dividends. I love the government! If your happen to have a low income, you get all the breaks. Which is partly how I plan on retiring at 45. If you get most of your income from capital gains and dividends you are paying way less tax for the same net income.