Keyword: Income splitting

27 results found

Now is the time to help your clients set up a prescribed rate loan because the rate of 1% is the lowest it will ever be — and it is fixed until March 31

Tories’ pre-election promises for families take a toll on country’s books

You need to help your clients understand their true savings for 2015

With the family tax cut, couples may have the extra funds they need to make investments in their children's future

Ottawa announes income splitting and an increased universal child care benefit

Job creation will continue to be a top priority

Use income-splitting for tax savings now

In part three of a three-part series, Jamie Golombek, managing director of tax and estate planning with Canadian Imperial Bank of Commerce’s wealth advisory services division in Toronto, counsels advisors to use income-splitting for tax savings now, since the prescribed rate as dropped back down to 1% as of January. He explains how to implement income-splitting strategies.

Surplus stripping, income splitting and complex tax planning are not prohibited by the Income Tax Act

The strategy became more difficult in 1999, when the federal government brought in the “kiddie tax” rule, which, along with other attribution rules, made the strategy less appealing. There are ways, however, to split income with a minor

With no attribution, a family can contribute more to TFSAs

  • By: Andy Bilski
  • November 9, 2012 November 6, 2019
  • 00:00