is a strategy in which income is shared so that it is taxed among several people.
Remember, this is the government that praised reservists, but decreased the budget dedicated to reservist pay, and shrunk their training budget to finance alternative initiatives like income splitting
--a $2,000 tax break for the wealthiest few.
Rafferty has faulted the Harper government's income splitting
plan for the problem.
5-billion tax break for some families by way of income splitting
Liberal Leader Justin Trudeau, who is in Toronto promoting his new memoir, told CBC News in an interview Monday that a Liberal government would move to reverse the Conservatives' proposed income splitting
measure should they make good on their promise to introduce it when the deficit is paid off.
But Jim Flaherty's replacement, Joe Oliver, has indicated that the government will keep its election promise and introduce income splitting
for families with children under age 18.
Other tax advantages of incorporation can include income splitting
with family members if the regulating body for your profession allows them to be shareholders.
30) Through this sort of income splitting
, a couple's combined income tax obligation could be reduced.
The benefits of income splitting
enjoyed by most married heterosexual couples via the joint return filing option is not generally available for same-sex partners on their federal returns.
is perfectly legal, but you cannot just choose to share the rents.
Dedicated staff provides taxpayers with complete resources, such as an online blog that is made available to everyone, where a wide range of financial and accounting content is covered such as income splitting
and claiming a spouse or child.