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Earn more Than your Spouse?

If you earn more than your spouse, one way to transfer funds to him or her for investment without having the investment income subject to Canadian income tax in your hands is to directly pay your spouse’s tax liability, including tax installments that come due during the year. Funds that your spouse would otherwise use to pay income taxes can be invested and any income earned would be taxed at your spouse’s lower tax rate.

Disclaimer:

"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."

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