[malccounting]

I recently bought a small wine-making business. It is a make your own wine from wine kits. I invested about $6000 into the company and plan to pay that back first. I am in it with a partner who has invested about the same amount. What is the best way for tax purposes to pay myself/partner to get our money back? This is in Canada so hoping to find someone with Canadian Tax Knowledge.

If I were to take money directly out of the company bank account would I just need to claim that on my personal income tax? Therefore is it best to account for more than $6000 because some of that will have to be paid in taxes. Or do I pay myself and deduct taxes immediately. How do I do this, etc? We do not plan on starting a payroll if not necessary as we are the only two working there and it is a partnership not an LLC. Thank you to anyone who can help me out.