In early November 2014, the government announced its version of income splitting for couples with children under 18 years. The term “income splitting” is deceptive as the measure introduced by the government is in fact another non-refundable tax credit. The credit is called: “Family Tax Cut”( http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa10-eng.html)
Read more →Some promoters of tax-deferral schemes may promise you that they can make tax-free withdrawals from your RRSPs. Typically, the arrangement involves using your self-directed RRSP to invest in a private company through purchase of shares or indebtedness. The funds injected in the private company are then loaned back
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