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Income Splitting for Canadian Businesses

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.

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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