Top Individual Canadian Tax Planning Tips
Everyone wants to reduce their income tax burden. So you may be asking yourself, what are the best tax planning ideas for Canadian taxpayers? PENSION INCOME SPLITTING Canadians with eligible pension income that qualifies for the pension tax credit can allocate up to half of this income to their spouse or common law partner. Tax planning includes determining the optimal allocation that reduces taxes while limiting the impact on Old Age Security benefits. RRSPS RRSPs …