Should one be on Payroll after applying for PR under CEC Class

[prahladj]

Hi,

I have applied for PR under CEC Class and has been qualified by CIC for the same. PR is currently under processing; haven't received medicals yet.

I am currently on Bridge Open WP and intend to start my own incorporation. As everyone is aware working contract jobs and dealing with client or vendor as incorporated gets more money and saves lot of taxable income.

My Question is - I intend to use the money that comes in to my incorporation as dividend without running payroll as it saves me on employee taxes.
That means I will no longer have employee payroll status. Is this OK?

Or If I have to setup payroll for myself through my incorporation, what is the minimum amount that CIC considers as a monthly income.

Any guidance, suggestions, advice is much appreciated.



thanks. Chaitanya

 

[xecuter]

Hi,

I have applied for PR under CEC Class and has been qualified by CIC for the same. PR is currently under processing; haven't received medicals yet.

I am currently on Bridge Open WP and intend to start my own incorporation. As everyone is aware working contract jobs and dealing with client or vendor as incorporated gets more money and saves lot of taxable income.

My Question is - I intend to use the money that comes in to my incorporation as dividend without running payroll as it saves me on employee taxes.
That means I will no longer have employee payroll status. Is this OK?

Or If I have to setup payroll for myself through my incorporation, what is the minimum amount that CIC considers as a monthly income.

Any guidance, suggestions, advice is much appreciated.



thanks. Chaitanya

Per Alberta, Canada rules (and I assume these are Federal rules), you can not start a business in Canada while on a temporary work permit. You can only be listed as "Director" of a corporation but can not hold actual shares or become a shareholder of a corporation.

Please consult a legal counsel who could assist you in this regard.

Cheers