How Pick Your Canadian Tax Computer Program: Difference between revisions
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Latest revision as of 07:01, 7 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of revenue from someone who's in a high tax bracket to someone who is in a lower tax bracket. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't get other taxable income. Normally, the other body's either your spouse or common-law spouse, but it could even be your children. Whenever it is possible to transfer income to someone in a lower tax bracket, it should be done.
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