How Does Tax Relief Work: Difference between revisions
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Revision as of 05:30, 3 November 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone who's in a high tax bracket to someone who is from a lower tax area. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't get other taxable income. Normally, the other individual is either your spouse or common-law spouse, anjing but it can also be your children. Whenever it is easy to transfer income to a person in a lower tax bracket, it must be done.
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