Sentences with phrase «split for tax purposes»

That would include families where both spouses are in the same tax bracket and of course single parents who have no spouse with whom income could be split for tax purposes.

The Harper government had already promised to use the surpluses to allow income splitting for tax purposes for families with children under the age of 18; to extend the fitness tax credit to adults; and, to reduce debt by $ 3 billion a year.

OTTAWA — Finance Minister Jim Flaherty expressed doubt Wednesday that expanding income - splitting for tax purposes is the best way to spend a surplus he expects to deliver ahead of the next election.

Not exact matches

However, your government is already on record for its commitment to allow families with children under the age of 18 to split income for tax purposes; to extend the fitness tax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government detax purposes; to extend the fitness tax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government detax credit to adults; to raise the threshold for Tax Free Savings Accounts to $ 10,000; and to reduce government deTax Free Savings Accounts to $ 10,000; and to reduce government debt.

Cost basis is the original value of an asset for tax purposes, usually the purchase price, adjusted for stock splits, dividends and return of capital distributions.

In addition, IPP assets are creditor - proof: always a plus for the self - employed; and as with traditional Registered Pension Plans, pension income can be split up to 50 % with one's spouse, for income tax purposes (pension splitting).

The 2018 Property Tax Assessment is a value that is calculated for tax purposes based on automated valuation algorithm used by BC Assessment and is split up into two components of valuation, land, and buildinTax Assessment is a value that is calculated for tax purposes based on automated valuation algorithm used by BC Assessment and is split up into two components of valuation, land, and buildintax purposes based on automated valuation algorithm used by BC Assessment and is split up into two components of valuation, land, and buildings.

No wonder the government touts policies such as allowing retired Canadians to split their pensions for tax purposes.

That's because recent changes allow couples over 65 to split their income from RRIFs, annuities and pensions for tax purposes.

At OakNorth, you can split your Cash ISA allowance between our Fixed Rate Cash ISA and Easy Access Cash ISA, and this will be classified as one Cash ISA for the purposes of tax - free allowances and HMRC reporting.

There would inevitably, however, have been some new clients that joined him after February 2003 and when he was with Mrs. F. Second, Mr. F. chose, for tax or income splitting purposes, to place a portion of the proceeds from the sale of his «book of business» in Mrs. F.'s name.

You need to assess the financial statements of the company, personal expenses paid by the company, tax free shareholder loans that may be available, cash flow needs of the company and income splitting corrections that need to be made after separation to find the true income for child and spousal support purposes.

On the tax issue, Sukonick at one point suggested it might be possible to split the $ 80 million for internal purposes to include both the non-competition amount and a break fee to Ravelston.

One may want an Appraisal for a number of reasons, being: for tax purposes; for the settlement of an estate; for the awarding of a mortgage or a re finance; for a marriage split (there will be two appraisals here) as well as for a simple sale price to be established etc., and even then regarding the last category, whether one wants to sell very quickly (fire sale) or whether one is prepared to wait for top dollar via having the property exposed to the market place for ninety days, one hundred - twenty days, six months or more (in a then currently ascending market) etc..

No matter how you split it, saving the expense is always better than deducting the expense for tax purposes.