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New Member
posted Oct 30, 2019 11:14:51 PM

Income splitting? We do not have a company?You show we cud income split? I'm confused?

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Moderator
Oct 30, 2019 11:14:52 PM

If it's asking you something regarding the Tax on Split Income and doesn't apply to you, you can say no and move on.

The Tax on Split Income doesn't apply to pension splitting.

Effective for tax year 2018, the rules for tax on split income (TOSI) were revised by the government. These rules aim to eliminate tax benefits arising from splitting income between family members who have not made a significant contribution to the family business. Here is more detailed information on Income Splitting: https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/income-sprinkling/frequently-asked-questions-income-sprinkling.html