Thread: Income, taxes and assets. If you want to pay as little tax as possible, you need to build up your income generating asset base.

Assets can grow in value, and will have a lower tax implication than if you only have incomes.

I have categorised the assets in the thread:

1. Tax mitigating assets. These are investments or assets which has deductions or exemptions to lower the tax.

Examples are: Rental property or small businesses

4. No tax asset: The most obvious one is Tax Free Savings Account, and cash investments

TFSA has no tax implications whatsoever.

The tax exemption on interest income is 23.8k - but do note that cash investments is less likely to beat inflation.