Don t Panic If Taxes Department Raids You: Difference between revisions
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Revision as of 17:32, 27 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of revenue from someone which in a high tax bracket to a person who is within a lower tax area. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't have other taxable income. Normally, the other person is either your spouse or bokep common-law spouse, but it could even be your children. Whenever it is easy to transfer income to someone in a lower tax bracket, it must be done.
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