Income splitting refers to a practice where a person divides their income with their spouse or family member to reduce overall taxes owed. By sharing income, each person may be able to stay within a lower tax bracket, resulting in lower overall tax payments for the household.
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«income»
«splitting»
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Phrases with «income splitting»
Sentences with «income splitting»
- Does this mean introducing income splitting for families with children under the age of eighteen, a commitment made in the 2011 election. (3dpolicy.ca)
- If we start with your pension, you should note that it will be eligible pension income for pension income splitting in retirement. (moneysense.ca)
- As predicted in the morning papers, the Conservative government has formally announced its long - promised introduction of family income splitting. (moneysense.ca)
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