How to pay yourself as a corporation

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“Siri, how do I pay myself if I’m incorporated?” | Photo by Viktor Hanacek via Pic Jumbo


And now the fun part: reaping the well-deserved rewards from your incorporated business via yummy cash.

When it comes to paying yourself as a corporation, it comes down to this: Salary and dividends.


Salary* more expensive option

  1. Add yourself to the company payroll and receive a T4
  2. Company will have to pay payroll taxes on your behalf
  3. Accumulate more room in your RRSPs to save on personal taxes


  1. Get a bookkeeper to figure out how much money you took from the business
  2. Your accountant will declare the money you have taken from the company as a dividend
  3. Get your accountant to issue a T5 from the corporation


  1. You cannot be a contractor to your own corporation because the Canada Revenue Agency (CRA) is missing out on taxes.

Register for our “Should I Incorporate” webinar on August 24 at 1pm today here to learn everything you need to know before you decide to Inc. up!