Split income with your spouse

Slash your tax bill with this easy to follow strategy.

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Income splitting is an effective way to minimize the overall tax that you and your spouse will pay.

One strategy is for a high-earning spouse to contribute to a spousal RRSP for his or her stay at home partner. If you run your own business, you can cut your family’s overall tax bill by employing your lower-earning spouse — or kids — to perform some tasks you would otherwise have to do yourself.

One comment on “Split income with your spouse

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