@wallacewang.ca: In Canada, Working Harder Can Leave You Poorer This video explains why high-income T4 salary can feel inefficient in Canada. The hook is an engineer earning around $150,000 while paying almost $65,000 a year to the CRA. The core angle is the "busy trap": working more hours does not solve the problem if all income is still salary. The script contrasts T4 salary with company dividends, capital gains, and TFSA income to show why structure, account type, and income channel matter. Best fit for Canadian professionals, engineers, high-income T4 earners, and viewers who feel busy but still cannot get ahead after tax. #CanadaTax #T4Income #BusyTrap #IncomeStructure #Dividends #CapitalGains #TFSA #FinancialPlanning #CanadaFinance

yayayappp :

he ain't paying 65k in taxes. I made 170 and paid 45k in taxes and got.2k back ok income tax

. :

Thanks for reminding me I pay 85k in taxes and I make 250k 😞

Fadwa’s :

You didn’t solve the engineer’s problem you just created a hypothetical situation that they could not have based on their career 😅

smile 🇨🇦 :

only applicable if you work/own your own business. if you work for a company making 100k, you're still fked

dy6riv8dyr95 :

FAKE numbers. Not paying 65k on 150k.

theRedVelvetCafe :

What’s the highest in CPP can you get at age 60 if you work say 10-20 years in Canada. Let’s say during that time your highest salary at the end of your career is $70k?

Plop :

Who the hell is working weekends for 150k? Also his average tax rate would need to be close to 50% to be taxed that much, impossible with 150k income. The max marginal tax rate, not average, reaches around 50% and you need to make about 250k+ to hit this threshold

mattanjelo :

Who is your audience? What you are not saying is how to do it.

Benson Ibeabuchi :

How do I run my income from where I work to a company and pay myself dividends? Like say I work as Company A as an engineer, how do I run my income through a company?

EveryLeb :

If my business is making $120k a year should I incorporate it? If so fed or prov? Solo employee

MINE :

What a life

HILDA vandermeulen :

But they get something back.. In asia you pay for everything

Saracenic :

you cannot be employed at Company A and channel that employment income into a corporation and treat it as revenue, that's simply not true. if you have a company that generates revenue then yes it's tax rate is much lower.

Rodger :

As a liberal I disagree but I have no facts to back it up

Dorothy Bezanson🇨🇦 :

Wallace where are you?

tiktoktime123go :

everyone is getting tangled up in the numbers. anyone that's in tech thinking they can simply do a corp and pay themselves has a high risk in getting audited as a PSB and you'll owe all the taxes you thought you avoided plus more... yes corp you might be able to get that 12.2% rate but good luck trying..you're no longer cruising as an employee. you'll legit need to run a business like a business and not a business like an employee which gets you audited...

Chasermmkay :

I am an employee. yep pay about 45% id like to know what to do to keep more of my money

Victor Manuel Jara :

Ok, so can you explain that again, I am not understanding that.

Oh! Bills :

Ask the doctors how they do it

David Pomerleau695 :

You can’t work for only 1 employer and ‘sub’ yourself . They closed that loophole many many years ago.

user698120152808 :

misleading PSB will apply

Tom parks :

canada doomed.

Spannnnnnky :

El_Maui :

Dude! I need help!

🌸Teresa🌸🇨🇦 :

Pay yourself all dividends you don’t pay CPP, but you don’t get CPP as well