How do I declare dividends from my own company?

Dividends are already taxed at corporate rate. Unless your personal income tax bracket is higher than corporate rate. Dividends can only pay out from profits. Salary will be better as personal tax rate will be lower, first $80k effective tax rate is about 4.2% before deducting any relief. And salary is considered expense for your company ,which lowers taxable income for company too.

Step 1: Have the board of directors declare a dividend payment

The Board of Directors will need to declare that dividends should be paid this year. They should state how much in dividends should be paid.

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Step 2: Pass an ordinary resolution to approve the dividend payment

Hold a shareholder's meeting to vote on the dividend declaration. Receive at least 50% of all shareholders’ votes. If you receive at least 50% of the votes the ordinary resolution has passed. You may now proceed to pay out the declared dividends.

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Step 3: Prepare the dividend voucher, and pay the dividend

A dividend voucher is basically a dividend receipt. It helps shareholders and the company keep documentary evidence that dividends were paid and received. Pay the dividend and send the voucher to shareholders receiving the dividend.

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Here's a complete step-by-step guide on declaring dividends: https://www.providecover.com/best-guide-to-divi...