Summary In this episode, the hosts discuss various strategies for income splitting, focusing on tax efficiency for business owners. They explore the implications of salary versus dividends, the use of capital dividends, and the importance of understanding attribution rules. The conversation emphasizes the need for holistic financial planning and the potential benefits of utilizing tools like RRSPs and RESPs for effective income splitting.   Topics Covered in this Episode 00:00 Introduction to the New Format 02:21 The Importance of Holistic Tax Planning 04:39 Income Splitting Strategies 11:34 Tax Risks in Income Splitting 17:21 Exploring Tax-Efficient Dividend Strategies 20:15 Balancing Immediate Costs and Future Growth 21:22 The Importance of Long-Term Financial Planning 22:44 Salary vs. Dividend: Making the Right Choice 24:36 Understanding Tax Implications for Business Owners 26:42 The Role of Income Splitting in Financial Strategy 30:12 Basic vs. Advanced Income Splitting Strategies 31:14 Utilizing RESPs for Tax-Efficient Income Splitting 32:40 Creative Strategies for Spousal RRSPs 38:57 Navigating Attribution Rules in Income Splitting 41:10 Understanding Anti-Avoidance Rules in Tax Strategies   Co-Pilot Tax Website: https://copilottax.ca/ Canadian Tax Guy: https://x.com/canadataxguy?lang=en   Millen Wealth AdvisorsWebsite: https://www.mwadvisors.ca/Register for our Free Financial Planning Masterclass for Business Owners: https://event.webinarjam.com/channel/Financialmaster   Follow us on Social MediaPodcast YouTube Channel: https://www.youtube.com/@MillennialMoneyCanadaPodcastSam’s TikTok: https://www.tiktok.com/@millennialmoneycanada?lang=enSam’s LinkedIn: https://www.linkedin.com/in/sam-lichtman/Guillaume’s Instagram: https://www.instagram.com/financialplannergui/Guillaume LinkedIn: https://www.linkedin.com/in/guillaume-girard-cfa-cfp-08487170/   Keywords Income splitting, tax efficiency, salary vs dividends, capital dividends, attribution rules, financial planning, tax strategies, Canadian tax, RRSP, RESP