Sentences with phrase «partner is in a lower tax bracket»

If your spouse or common - law partner is in a lower tax bracket than you, shifting this income to his or her hands helps lower the total family tax bill.

Not exact matches

Jason Heath, a certified financial planner with Objective Financial Partners, says, «this is always beneficial in the short run, and often beneficial in the long run if you're in a lower tax bracket in retirement.»

Setting up a spousal RRSP is a good idea if you expect your spouse or common - law partner to be in a lower tax bracket than you on retirement.

If you have a spouse, partner or kids in a lower tax bracket than you, consider a prescribed rate loan strategy whereby the higher - income spouse or partner loans funds to the lower - income spouse or partner to invest at the record low prescribed rate, which is at one per cent until at least March 31.