A Excellent Taxes - Part 1: Difference between revisions
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Revision as of 05:14, 10 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of revenue from someone will be in a high tax bracket to a person who is from a lower tax area. 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 body's either your spouse or common-law spouse, but it could even be your children. Whenever it is easy to transfer income to a person in a lower tax bracket, it should be done.
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