Don't Panic If Income Tax Department Raids You: Difference between revisions
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Revision as of 13:52, 12 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 a person who is in a lower tax segment. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't have got other taxable income. Normally, the other individual is either your spouse or common-law spouse, but it can also be your children.
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