Tax Planning for Corporate Owner-Managers

Knowledge Bureau Certificate Courses

Categories: Bookkeeping and Accounting, Tax Planning

Your Instructors: Dean Smith

PROGRAM: Business Services Specialist, Bookkeeping Services Specialist

Learn to define the components of compensation, including salary, dividends, and bonuses, their tax attributes and the opportunities and/or constraints imposed by recent income tax. Acquire the knowledge and skills required to provide advice throughout the year with a view to minimizing the total amount of income taxes paid by the family.  Apply recent personal/corporate tax changes to the family’s best benefit using true-to-life case studies. This newly updated course will explain how and provide the experience and credentials to better manage owner-manager compensation.


As a result of recent corporate tax rate changes and adjustments to the taxation of dividends, one of the key issues faced by the owner/manager of a private business is how to best manage his or her compensation to maximize the amount of after-tax income available to the family. Equip yourself with a broad understanding of the tax changes as well as the compensation planning options available for the family business and its family members.  Then use your knowledge to implement Real Wealth Management™ strategies to help families accumulate, grow, preserve and transition their wealth over time with proper retirement investment plans.

CERTIFIED SKILLSETS: The student will understand the different ways in which an owner/manager may draw compensation from an incorporated business to fund income requirements today and plan for future income in retirement and other transition periods.  The student will:

  • Have a thorough understanding of recent income tax changes regarding the taxation of dividends, salary, taxable and tax free benefits, retirement investment planning opportunities,  and deferred compensation programs in the corporation and for the owner and family on their personal tax returns. A basic understanding of family income splitting benefits, opportunities and obstacles.
  • How to split corporate income out to family members using salaries & benefits, dividends, family trusts and holding companies.
  • How to structure deferred income plans, including registered and non-registered pension plans, registered retirement savings plans, TFSA planning, deferred profit sharing plans, retirement compensation arrangements and salary deferral arrangements.

PRACTICE MANAGEMENT THESIS:  Formal Case Study. The student will apply the knowledge gained in the course to provide budgets and analysis to a sample company.


  • EverGreen Explanatory Notes
  • Knowledge Bureau Calculators
    • Marginal Tax Rate Calculator
    • Income Tax Estimator
    • Tax-Efficient Retirement Income Calculator


Quizzes 50%
Case Studies 25%
Final Exam 25%
Passing Grade 60%
Honours Achievement 90%


Related Programs

Master Financial Advisor
Distinguished Financial Advisor
Distinguished Financial Advisor

Table of Contents

Chapter 1:
The Taxation of Business Income and Its Integration in Personal Taxation
Chapter 2:
Understanding Family Compensation Requirements
Chapter 3:
Income Tax Treatment of Salary
Chapter 4:
Income Tax Treatment of Dividends
Chapter 5:
Other Compensation Issues – Benefits, Shareholder Loans
Chapter 6:
Income Splitting, Kiddie Tax, Tax on Split Income
Chapter 7:
Basic Issues in Using a Holding Company or Trust
Chapter 8:
Registered Deferred Income Plans
Chapter 9:
Unregistered Deferred Income Plans
Chapter 10:
Planning Pitfalls – the Capital Gains Deduction, CNIL, ABIL's

What Graduates Say

As a general practitioner I don't always come across the full spectrum of client needs, so need ongoing education to make sure I can identify client solutions at a higher level of technical proficiency as they arise - this course met these requirements. There is a great deal of new information in the course. I like the way the courses are grouped into topics that can easily be put into practice. The information is applicable to the client market I am attracting. The format of the comprehensive testing is perfect for a busy professional, EverGreen Explanatory Notes were excellent and student support was very personal and responsive. Laura F. T., ON
If you are in the business of giving financial advice, this course will round out any gaps in your knowledge on the business owner special planning needs. Excellent integration with previous courses. High relevancy to my practice. Maria K., AB
This was an excellent course, one of the best I have taken in the MFA Designation Program. The course was very challenging and the information contained was valuable to me in my practice. I plan to keep my journal nearby as a reference when required. This is a very valuable course for anyone in private practice. Heather M., NS