Here's how it works: Each year, you owe a certain amount of income taxes based on your income and deductions. (policygenius.com)
The dividend tax credit applies to dividends from Canadian companies, so they are worth around one - third more, after tax, than the same amount of income from interest. (tsinetwork.ca)
Obviously, the biggest advantage of investing in an annuity is that it guarantees you a certain amount of income on a regular basis once you retire. (smartasset.com)