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(Page créée avec « S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone can be in a high tax bracket to someone who is in a lower tax group. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't have any other taxable income. Normally, the other body's either your spouse or common-law spouse, but it could even be your children. Whenever it is easy to transfer income to someone in... ») |
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If you are like countless other businesses, the economic collapse has hit you extremely. It may be that you had a business that failed, or that owe a large amount of tax arrears from quick sale of the house for instance. But what anyone do if you can't manage to pay your taxes? This is when tax relief should be thought about. What is tax relief and exactly how it purpose? We will discuss that now.
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