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Version vom 16. Juli 2026, 00:04 Uhr
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of revenue from someone which in a high tax bracket to a person who is from a lower tax bracket. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't have got other taxable income. Normally, the other body's either your spouse or common-law spouse, but it can also be your children. Whenever it is easy to transfer income to a person in a lower tax bracket, it should be done. If the difference between tax rates is 20% your family will save $200 for every $1,000 transferred to the "lower rate" partner.
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