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Version vom 23. Juli 2026, 01:40 Uhr
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone who's in a high tax bracket to someone 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 possess other taxable income. Normally, the other individual is either your spouse or common-law spouse, but it can also be your children. Whenever it is possible to transfer income to a person in a lower tax bracket, it must be done. If marketplace . between tax rates is 20% the family will save $200 for every $1,000 transferred for the "lower rate" family member.
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