Posts Tagged Income-Splitting
Spousal Prescribed Rate Loans Deadline is January 30th
If you have made a prescribed rate loan to your spouse to take advantage of the current historically low prescribed rate of 1% and allow your lower income earning spouse to invest the proceeds of the loan and therefore pay less taxes on the interest, ...
2 Comments | Posted in Financial Planning for Business Owners,Investments,Tax Planning
December 28, 2010
Top Ten Reasons You Should Own a Tax Free Savings Account
- If you have maximized your RRSP contributions, the TFSA gives you another way to shelter $5000 per year of your investments from taxes. - TFSAs can be a great place to hold emergency funds as you can hold short-term interest bearing instruments in a tax-sheltered environment ...
7 Comments | Posted in Financial Planning for Business Owners,Savings and Investments,Tax Planning
August 04, 2010
Don’t Miss the Opportunity to Set up a Spousal Loan
If there was ever a time that you would want to consider using spousal loans, this is it. The current prescribed rate on a spousal loan is 1%, which is the lowest the prescribed rate has ever been. This is really as good ...
26 Comments | Posted in Credit and Debt Management,Financial Planning for Business Owners,Mutual Funds,Stocks,Tax Planning
January 05, 2010
TFSA – Another Income-Splitting Tool
f you have a good accountant, you must have heard of income splitting and most likely have been using this strategy to split income with your family members to reduce your overall taxes by ending up in a lower tax bracket. You may also have been ...
24 Comments | Posted in Financial Planning for Business Owners,Tax Free Savings Accounts,Tax Planning
July 31, 2009
