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@foodie20 GST doesn’t apply to international customers though. I just asked 2 accountants that. He will be liable for the tax that he takes out. So if he makes 200k and only takes out 50k. He only gets taxed for 50k. That’s how it can be used somewhat like an rrsp

@foodie20 I was talking about the rrsp part. But in terms of liability, it’s best to make a bold line between him and the business. Not very hard to do either with a good accountant

@foodie20 He can keep the money in the corporation and pull out only what he needs. Pretty simple

@nilz Incorporate and become a contractor. Make sure you can secure another small contract part time as well. This will help with labeling with the cra. You can basically use the corporation as an rrsp. Make a business account and get a business credit card. Talk to an accountant and start going...