If I'm the only owner and employee of corporation, and if I pay myself the entire corporation's revenue, do I have to pay federal/provincial corporation tax on my salary?
so say I own a corporation and I am the only owner and employee of that corporation. if the corporation earned $40000, and if I pay myself the entire $40000 for my salary, (leaving the corporation $0... I can do this since I am the only employee of the corporation), is it true that I do not have to pay neither of federal and provincial corporate tax on the $40000 that the corporation made, but only pay T4 income tax on the $40000 (since it is my salary)? Thank you,