GLG
Well-Known Member
If you want to take advantage of this CPC tax break you will need to do this.Hell yes cuts to spending! Passive income still has been taxed, any money made is taxed, then when you try and spend it....taxed the **** out of. Problem is spending by all government levels out of control. A vote for the liberals is a vote for out of control spending and tax increases as well as a total end to fishing as we know it. It’s really that simple.
Setup an account with your stock broker and start putting in $100K of your after tax money into each year.
VIP make sure that the account is in the company name as this tax break is only for private corporations.
Do this for the next 10 years until that account accumulates over a million.
After that you can withdraw $50K a year tax free as long as you don't touch the principal. You will need it to generate that income.
That $50K is passive income.
Or you could just stick in a million, after tax money, into that account and collect $50K next year when Scheer wins one for the team. You got to keep the donors happy, after all they have the best politicians that money can buy.
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