Income splitting is a tax-saving strategy that divides a stream of income between family members (usually two spouses). The goal is to apportion as much of the higher-earning family member’s income to other family members, in an effort to get that higher-earning spouse into a lower tax ...
Income Splitting in Canada: Inequality by DesignT. E.Canadian Tax Journal / Revue Fiscale Canadienne
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CanadaTax Income Splitting The government plans to introduce legislation to allow limited income splitting for couples with children under 18. The so called "family tax cut" will allow an eligible taxpayer to transfer up to $50,000 of income to his or her spouse for tax purposes in order to...
Incorporation has other benefits too. You can choose how to distribute the income your business generates and take advantage of tax benefits like charitable donations and income splitting. Not only that, but the lower corporate tax rate also makes it cheaper for you to reinvest pr...
The OAS Clawback: Income, Threshold, Dividends, and Pension Splitting The OAS clawback (which the government calls the OAS pension recovery tax) is an important aspect of financial planning for 65+-year-olds who are still working, or who are fortunate to have a substantial amount ofincome fr...
Splitting finances can get messy if your relationship breaks down Registered savings accounts ProsCons Tax benefits available to help maximize your earnings Help you reach your savings goals sooner Wide range of accounts available Contribution limits apply Early withdrawals can create tax complications Many...
Proximity to Manufacturing Base: The co-founders found themselves splitting time between their Hong Kong co-working spaces and their Shenzhen office. According to co-founder and COO Christian Yan, door-to-door travel between the two neighboring cities only takes two hours by bus with Dongguan only...
This happened from vote splitting in Ontario in which the leftists split their votes between the Liberals and the NDP. The Bloc Quebecois were destroyed in Quebec as the so-called "Orange Crush" of the NDP swept that province taking 59 out of 75 seats, leaving the BQ with a mere 4 ...