How Does Tax Relief Work: Difference between revisions
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Revision as of 20:07, 12 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone will be in a high tax bracket to a person who is from a lower tax group. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't have any other taxable income. Normally, the other body's either your spouse or common-law spouse, anjing but it can also be your children. Whenever it is easy to transfer income to someone in a lower tax bracket, it should be done.
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