Sentences with phrase «even pension income splitting»
Even pension income splitting has been cited as a possible target, which Hectors says would argue for taking advantage of spousal RRSPs, covered in this space last time.
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After all, there are all sorts of unfair tax rules and abuses, including large corporations shifting income overseas to avoid Canadian taxes, the ability to deduct and split the fat pensions of government employees and even the ability for some to set up fake private companies to benefit from small business tax provisions.
On the taxable income alone, with an even split of eligible pension income, they would each have about $ 86,000 of tax exposure.
She can split her income 50 - 50 with Rosco even though she's under 65, because it's pension income.
Even without tapping their considerable cash and investment accounts, Sam and Ethel can take advantage of tax rules that allow splits of eligible pension income.
Because of pension splitting, even retirees with good company pensions may stay in the lowest bracket if they have a low - income spouse.