business

Income Splitting: Here, and has always been here.

Did you hear that in 2015 Canada is "introducing" a form of income splitting for Canadians? That's false. Do you think it will mainly benefit the wealthy? Likely false again.

Income splitting is not new and business owners, lawyers, accountants, doctors, contractors and many other top earners have had access to income splitting for years and likely most of the richest Canadians already structure their businesses to ensure their spouses, adult children, and others take advantage of the progressive tax system in Canada.