Save Thousands! 8 Income Splitting Opportunities for Canadians

Start your retirement plan! https://adviice.ca/retirement-software-canada?utm_source=youtube&utm_medium=video&utm_campaign=spousal-rrsp-use-plus Don't have a detailed retirement plan yet? Build your retirement plan using our AI Strategies for just $9/month. This includes a comprehensive 30-day email/video course with detailed instructions. --- Income splitting is an interesting and potentially very beneficial tax planning opportunity for couples. Because we’re taxed individually on our income it can be advantageous to split income and reduce the overall income tax bill for the household. The ultimate goal of income splitting is to perfectly split the household income and the corresponding tax bill. Splitting income 50/50 is the ideal way to minimize the household’s income tax. However, the CRA doesn’t like this, and there are lots of rules in place to prevent income splitting in certain situations. In the video we use an example from last weeks case study video, you can find the full case study here... https://youtu.be/jq6_6rfIdKk --- Disclaimer: This video is for educational purposes only and does not constitute investment advice or financial advice. All information provided is for illustrative purposes only and you should not rely on such information as the primary basis of your investment, financial, or tax planning decisions. Every effort has been made to ensure the accuracy of its contents. No representations, warranties or guarantees are made as to the accuracy of any estimates or calculations provided. Nothing in this material should be construed as investment or tax advice, or a solicitation or offer, or recommendation, to buy or sell any financial product or securities. Before making any financial decision, you should review your situation with a financial planner.