Sentences with phrase «so pension income splitting»

It was the same year they levelled the income trust industry by introducing punitive tax rules, so pension income splitting was a bit of a condolence for seniors, many of whom were heavy into income trusts.

Not exact matches

In addition, other payroll taxes on employees will end (e.g. EI premiums), and certain tax measures targeted on the elderly will come into play (e.g. the aged exemption, the pension income deduction, the non taxation of GIS, pension income splitting, and so on).

Dividend income from Phil's company and some pension income could be split, so their effective tax rate might be just 15 per cent.

Conclusion: No change because pension income splitting puts both spouses in the lowest bracket, so no benefit from rate cut.

Dividend income from Phil's company and some pension income could be split, so their effective tax rate might be just 15 per cent.

He expects some people with good pension plans will start retiring earlier so they can split their incomes, and work part time until 65.

I assume that you are splitting your pension income on your tax returns, so that 50 % of your pension is taxable to your wife at her lower tax rate.

So, a point may come where he splits some of his eligible pension income with you.

Plus they're in a lower tax bracket and they can split their pension income, so they pay only 13 % in taxes.

Pension income from the RRSP when paid out as a RRIF can be split, so the effective rate would be about 13 per cent.