Income splitters take note - MoneySense

Income splitters take note

How changes to the CRA’s prescribed rate will affect you, bad financial planner pick-up lines and a poll on tipping.

    • The CRA is increasing the prescribed rate from 1% to 2% in October. Prescribed rate loans are often used as an income splitting strategy by families to lower taxes. Here’s how the change will affect investors.
    • We’ve heard our fair share of bad “pick-up lines” on the dating scene. The Canadian Finance Blog lists pick-up lines from financial planners.
    • high-end Japanese eatery began refusing tips after it raised it’s menu prices in order to better pay staff sparking a debate about the merits of tipping among restaurant goers. Tell us what you think by answering our poll question below.