CDA
CANUC RESOURCES CORPORATION
stock CVE

Thanks for that answer. CDA won't be that valuable yet as incorporation was only this year. We paid heavily (taxes) for unexpected but welcome growth in the business on our personal taxes last year which is why we incorporated to smooth out withdrawals when we actively stop looking for work in about 5 years. We expect holdings to go from 300k now to 1.5mil in that time. We can income split our pensions putting us about 42k after tax each. We think we will withdraw about 40k each to stay around a 38% marginal tax bracket. I have no idea what our personal liquid assets are going to cost tax wise as we haven't completed a full year with them before.
Our COL is way below our pension income. $ from the corp is to upgrade to business class and doing extra excursions when we travel. We are currently able to fill our 2 kids TFSA every year.
Life is simple now except when we travel. Drive an 06 pickup, shop at No Frills and cook most of our meals. We had no investments until a year ago. Sold almost everything but the truck and downsized to an apartment.

Any significant latent gains on stocks? A good way to take out some cash from the corp is to trigger the gain inside the corporation, half will be taxable and half can be taken out of the corp tax free with a CDA election.
If you have dividend paying stocks, you may have some ERDTOH, which allows for some eligible dividend and recovering part IV tax (basically when receiving a dividend from a public corporation, usually you just pay a flat 38.33% on it, but that gets refunded when your corporation pays out a dividend to you).
Assuming the tax on split income rules dont apply to you and your wife, do you have that much in your corp that you have to take out a huge amount of dividends per year for both you and your wife? I'm just thinking, even if it's a dividend of 100K each, that's 200K per year and taxation shouldn't be too bad?
For instance, if you have 3M of stocks with a 1M total basis, you can trigger the gain (2M), on which you'd pay around 500K in taxes. With the 2.5M left, you can take out 1M tax free through CDA, so that leaves 1.5M in the corporation. At 100K of dividend each per year, even taking into account portfolio growth, I'm sure you'll eventually empty your corporation.
As you can see there's potentially some things to do to take out a portion of the liquidities out of your corporation in a tax optimal way.
Usually big wealth management (like big banks) have tax specialists internally that focus on these kind of strategies.
If you prefer flat per hour fees, you can try accounting firms that have a dedicated tax team (which all big firms do have). They'll take your info, come up with a strategy and coordinate with lawyers to execute if necessary (corporate resolutions, liquidating and dissolving the corp, etc.).

It's hard to give you an informed opinion specific to your situation without knowing what are the corps assets (FMV, ACB, UCC if depreciable asset), liabilities, the shareholding, tax balances (CDA, ERDTOH, NERDTOH, GRIP, safe income, any capital losses, non-capital losses, etc.), and your personal situation too (when retired what will be your approximate income, how many kids, assuming they are all adults, other assets, type of other income stream).
Depending on your situation, there could be various strategies to optimize your tax situation.
So sorry to repeat this, but it's really best to seek a tax professional.

Thanks for that answer. CDA won't be that valuable yet as incorporation was only this year. We paid heavily (taxes) for unexpected but welcome growth in the business on our personal taxes last year which is why we incorporated to smooth out withdrawals when we actively stop looking for work in about 5 years. We expect holdings to go from 300k now to 1.5mil in that time. We can income split our pensions putting us about 42k after tax each. We think we will withdraw about 40k each to stay around a 38% marginal tax bracket. I have no idea what our personal liquid assets are going to cost tax wise as we haven't completed a full year with them before.
Our COL is way below our pension income. $ from the corp is to upgrade to business class and doing extra excursions when we travel. We are currently able to fill our 2 kids TFSA every year.
Life is simple now except when we travel. Drive an 06 pickup, shop at No Frills and cook most of our meals. We had no investments until a year ago. Sold almost everything but the truck and downsized to an apartment.

Any significant latent gains on stocks? A good way to take out some cash from the corp is to trigger the gain inside the corporation, half will be taxable and half can be taken out of the corp tax free with a CDA election.
If you have dividend paying stocks, you may have some ERDTOH, which allows for some eligible dividend and recovering part IV tax (basically when receiving a dividend from a public corporation, usually you just pay a flat 38.33% on it, but that gets refunded when your corporation pays out a dividend to you).
Assuming the tax on split income rules dont apply to you and your wife, do you have that much in your corp that you have to take out a huge amount of dividends per year for both you and your wife? I'm just thinking, even if it's a dividend of 100K each, that's 200K per year and taxation shouldn't be too bad?
For instance, if you have 3M of stocks with a 1M total basis, you can trigger the gain (2M), on which you'd pay around 500K in taxes. With the 2.5M left, you can take out 1M tax free through CDA, so that leaves 1.5M in the corporation. At 100K of dividend each per year, even taking into account portfolio growth, I'm sure you'll eventually empty your corporation.
As you can see there's potentially some things to do to take out a portion of the liquidities out of your corporation in a tax optimal way.
Usually big wealth management (like big banks) have tax specialists internally that focus on these kind of strategies.
If you prefer flat per hour fees, you can try accounting firms that have a dedicated tax team (which all big firms do have). They'll take your info, come up with a strategy and coordinate with lawyers to execute if necessary (corporate resolutions, liquidating and dissolving the corp, etc.).

It's hard to give you an informed opinion specific to your situation without knowing what are the corps assets (FMV, ACB, UCC if depreciable asset), liabilities, the shareholding, tax balances (CDA, ERDTOH, NERDTOH, GRIP, safe income, any capital losses, non-capital losses, etc.), and your personal situation too (when retired what will be your approximate income, how many kids, assuming they are all adults, other assets, type of other income stream).
Depending on your situation, there could be various strategies to optimize your tax situation.
So sorry to repeat this, but it's really best to seek a tax professional.