Make your interest expense tax-deductible
If you must borrow, try to borrow for investment or business purposes before you borrow for personal reasons. The interest paid on these loans is fully deductible, while interest on personal borrowing is not.
 

Split income with your spouse
Most couples will pay less tax overall if each partner earns some of the family's investment income, rather than one partner earning it all.
 

Split income with your children
You can split income with your children by acquiring capital property with a low yield but high capital gains potential in the names of your children.
 

Realize losses to offset gains
If you have realized capital gains in the year and have accrued losses on other investments, consider selling your losses before year-end.
 

Reduce net income to avoid OAS claw-back
Defer income to a future year or maximize your deductions this year, so that your net income is reduced and the Old Age Security claw-back is minimized.
 

Defer tax with the RRIF minimum income option
You do not have to withdraw from a RRIF until age 69.
 

Transfer gains to the next generation with a estate freeze
Whether you own a business or substantial investment assets, an estate freeze can minimize your future tax liability.
 

Capitalize the $500,000 capital gains exemption
If you own and operate a business that has increased in value, plan on claiming this exemption as soon as possible. You do not have to sell your business to make this claim.