No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
CCPC incorporation, practice ownership, and wealth-building strategies for Canadian dentists.
Dentistry is among Canada's highest-earning professions. Gross billings vary dramatically by province, practice type, and ownership model. A dental practice with $600,000 in billings may net $200,000-$350,000 after overhead of 55-70%.
| Role | Gross Billings | Est. Net Income |
|---|---|---|
| Associate (salaried) | N/A | $100,000-$160,000 |
| Associate (% of production) | $350,000-$600,000 | $140,000-$240,000 |
| Practice Owner (solo) | $500,000-$1,000,000 | $200,000-$450,000 |
| Group Practice / Multi-chair | $1,000,000-$3,000,000 | $350,000-$900,000 |
| Specialist (ortho, endo, oral surg) | $600,000-$2,000,000 | $300,000-$900,000 |
Virtually all practice-owning dentists in Canada should operate through a Dentistry Professional Corporation (DPC) or CCPC. The corporate Small Business Deduction rate of approximately 12.2% in Ontario versus a personal marginal rate of 53.53% creates enormous tax deferral. A dentist earning $400,000 net who draws $180,000 personally leaves $220,000 inside the corporation taxed at 12.2% - a saving of approximately $90,000 versus personal taxation in one year.
Draw a T4 salary of approximately $180,000 to generate RRSP room ($32,490) and CPP contributions. Retain remaining income in the corporation at the SBD rate. Pay eligible dividends in low-income years such as parental leave or retirement. Invest retained earnings in a diversified portfolio inside the DPC.
Like physicians, dentists with corporations benefit from Individual Pension Plans (IPP) at age 40 and older. At age 50, an IPP may allow $50,000-$60,000 in annual deductible corporate contributions - far exceeding the RRSP limit of $32,490. The corporation bears the investment risk; you receive a guaranteed lifetime pension. Optimal strategy: use RRSP during early career, transition to IPP after age 40.
Your practice income is complex - personal draws, dividends, lab reimbursements. Keep your personal banking simple and free with KOHO, so more of every dollar goes into your DPC or RRSP.
Get KOHO Free — Code BREMO2026