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Kris Racine

7150 Hawthorne Dr. Unit 104
Windsor, ON, N8T 3N3

Phone: (519) 974-6688
Toll Free: +1 866-973-4846
Fax: (519) 974-7192

10 Ways to Split Your Income

Income splitting involves moving income from the hands of a high income family member into the hands of another member who is taxed at a lower rate.

  1. Contribute to a spousal RRSP.
  2. Contribute to an RESP.
  3. Split up to 50% of your CPP benefits with your spouse.
  4. Invest inheritance received by lower income spouse in his/her name.
  5. Higher income spouse pays household bills, other spouse invests.
  6. Loan money to spouse to invest. Charge market interest rates.
  7. Give cash to lower income spouse to pay investment loan interest.
  8. Put capital gains generating investments in minor children's names.
  9. Invest Child Tax Benefits in the child's name.
  10. Deduct babysitting wages paid to adult children as child care expenses.

Mutual funds are offered through Manulife Securities Investment Services Inc. Insurance products and services are offered through Seguin Financial Group Ltd. Seguin Financial Group is a trade name used for both mutual fund & Insurance business activities. Banking products and services are offered through referral.