Hi, my CCPC has amounts invested with no additional income. How to I reflect a 5% growth in the CCPC investment factoring in the dividend payments. I am already depleting the investment pool via dividends as personal income.
You need to add an ACCOUNT, select the type as CCPC Investment account, the owner will automatically be set to your CCPC once you click submit. You can have it grow as Cash at 5% and leave it that, or you can add specific investments to that account as you can for your own. This is advisable to do as the tax treatment and will be different if your CCPC is collecting dividends itself trough stock investments.
The MoneyReadyApp (as the CRA) separates your CCPC from your own personal finances. If you entered accounts/investments owned by your CCPC with you as owner, please delete those accounts and instead enter them as CCPC accounts. The TIME MACHINE will not allow dividend income to be taken if the the CCPC can not pay them out (from revenues, or from depleting it’s investment accounts).
You may want to read over sections of the MoneyReadyApp eBook that explain how it deals with the CCPC.