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Income Splitting

Smart Tax Strategies for Retirees: Income Splitting

Income tax is one of the largest expenses any retiree has. A smart tax strategy to reduce a family’s overall tax burden is to split the income. This means to shift income from a spouse or common law partner (CLP) who is in a higher tax bracket to one who is in a lower tax bracket.

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Happy FAMily
Blog

Smart Tax Strategies for Retirees: Tax Efficient Income Withdrawals

One of the most important decisions a retiree must make is how to create an income and cash-flow strategy from the financial assets they have ...
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OAS Recovery Tax
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Smart Tax Strategies for Retirees: Avoid the OAS Recovery Tax

It’s smart tax planning for retirees to arrange their income to avoid this clawback if possible. Some strategies to review are:  Income split with your ...
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Health and Medical expenses
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Smart Tax Strategies for Retirees: Keep Track of Health & Medical Expenses

A smart tax strategy during retirement is to keep track of your medical expenses and take advantage of any credits that may be available.
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Beneficiary Designations
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Avoid a huge $$$$ mistake. Check your beneficiary designations now!

A recent article from CBC,  Halifax women calling for more protections on RRSPs after husband’s sudden death by Emma Davie, reviews what can happen if ...
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Income Splitting
Blog

Smart Tax Strategies for Retirees: Income Splitting

Income tax is one of the largest expenses any retiree has. A smart tax strategy to reduce a family’s overall tax burden is to split ...
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RESP for kids
Blog

Registered Education Savings Plan (RESP)

My kids are 18 and 20, does setting up a new Registered Education Savings Plan (RESP) still make sense? Excerpts from the Book – Preserving ...
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