Hello fellow Canadians!

In today's video, we are diving deep into the world of income splitting. As Canadian taxpayers, I'm sure you're all curious about how you can use this strategy to potentially lower your family's overall tax liability!

You see, we operate under a progressive tax system here in Canada meaning the more you earn, the more you pay. But what if there was a way to distribute that tax load more evenly? Spoiler alert: There is, and it's called income splitting!

Don’t forget to subscribe to my channel for more videos on Canadian real estate and taxsaving strategies so you don’t miss a thing!

Key Moments In This Episode
========================
00:00 Introduction to income splitting
02:10 Understanding the progressive tax system
04:21 How income splitting lowers Family tax liability
06:29 Case study: Claiming employment expenses
08:30 Impact of income splitting on tax payable
10:22 Rules and documentation requirements for income splitting
12:24 No monetary exchanges in expenses offsetting
14:14 The importance of documentation and money transfers in income splitting

If you have any questions or thoughts after watching this video, leave a comment below, and I’ll respond as soon as possible.



Please make sure to speak to a professional that knows your personal situation before making a decision.

If you need to talk to someone on my team, email us at [email protected].



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