The first class in Tax law 101 features a discussion on the Duke of Westminster ([1936] A.C. 1), wherein the Appeals Court of England ruled that: “Every man is entitled if he can to order his affairs so as that the tax attaching under the appropriate Acts is less than it otherwise would be.”
Even in Canada today, home of what some would say much over-regulation, it remains generally permissible for taxpayers to structure their affairs in a more tax effective manner. (Lest we over-generalize, an exception does exist for abusive tax planning, which the CRA refers to as "tax avoidance").
As is often the case with tax planning, however, implementation is the key.