Tax GuideTax Guide
Fri, 11 Apr 2014 10:30:00 GMT | By Gordon Powers, MSN Money
10 ways to become more tax efficient

Save money by being clever about your investments.

tax (© decisiveimages/Getty Images)
  • tax (© decisiveimages/Getty Images)
  • Defer whenever you can (© courtneyk/Getty Images)
  • Pay close attention to RRSPs (© Graham Hughes/The Canadian Press Images)
  • Get your TFSA going (© iStock)
  • Split income whenever you can (© AndreyPopov/Getty Images)
  • Put your life insurance to work (© Igor Dimovski/Getty Images)
  • Consider corporate class funds (© Arpad Benedek/Getty Images)
  • Look for capital gains (© Image Broker/Rex Features)
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Since the recent federal budget didn’t really do anything for them, smart investors are once again thinking about how they can get more tax relief on their income and investment dollars.

The trick is to become more tax efficient. Tax efficiency doesn’t mean avoiding tax altogether. Nor is it about joining the underground economy.

Tax efficiency simply means pushing off tax where you can and generating more of your investment returns from asset classes that attract lower rates of tax.

Given a choice of investing in taxable and registered accounts, for instance, you have to consider the best place for each investment for tax purposes.

Click through to see what you need to consider.

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