Income Splitting for Canadian Businesses
Income splitting is the transfer of income from a person in a higher income tax bracket to a family member in a lower income tax bracket. Because of the marginal tax rate in Canada, tax rates increase as your income rises.
Original Article Source Credits: the balance smb, https://www.thebalancesmb.com/
Article Written By SUSAN WARD
Original Article Posted on : January 28, 2020
Link to Original Article: https://www.thebalancesmb.com/pay-less-canadian-income-tax-with-income-splitting-2947329