I am about to receive a 25k CAD bonus for Q1. This is my first quarterly bonus following my promotion. Could you share some ideas on reducing taxes on this one-time bonus? I'd like to invest this money in a growth vehicle instead of letting it sit with the CRA until the next financial year.

likefunny
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Is it possible to put in a company RRSP?

Wealthsimple. Check out their “Cash” account.

Unrelated, but do you get $25k as a quarterly bonus? $100k a year? Are you like a senior manager or partner?

This might not be true for all quarters, actually. At the start of the year, I was promoted to a manager position, which included a profit-sharing component. My team and I worked hard, and this quarter turned out to be one of the best quarters for the company. I calculated my bonus with the profit-sharing model, and it turned out to be 25k CAD.

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RRSp

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