Consider a Registered Education Savings Plan (RESP) for your children
Review your December income tax installment
Repay outstanding shareholder loans and pay interest on employee loans
Contribute to your spouse’s or common-law partner’s RRSP to the extent of your RRSP deduction limit for 2009. This doubles the amount a couple can withdraw for the Home Buyer’s Plan
Claim your personal tax credits
Keep your transit passes
Pay reasonable salaries to family members
Convert non-deductible debt to deductible interest
Review your will every five years
Split pension income with spouse
Consult your Padgett Business Services
representative to obtain additional tax planning ideas.