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Revision as of 02:47, 22 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone will be in a high tax bracket to a person who is in a lower tax bracket. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't have other taxable income. Normally, the other person is 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, memek it should be done.
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