One of the best things you can do to lower your taxes is to make your investments “tax deductible”. This is a strategy that you can easily use with most investment to put more money in your pocket. In the long term this will save you tens (for some hundreds) of thousands of dollars!
This works especially well if you either have a line of credit or a mortgage. This is called the “Smith Manoeuvre” and legally in Canada you can deduct your loan interest from your investment income. (Speak to your accountant before you do this)
Take a look at the article below and reach out and let us know what you think!