Lend Money to Your Spouse or Kid
Tax Act s. 74.5(2), Income Tax Regulations s. 4301(c)
If an individual partner is with in an increased income tax bracket, it could be useful to provide cash to your lower-income partner. Cash can be loaned to a young child. The funds may be used to buy opportunities, and taxation from the investment earnings may be compensated by the lower-income partner at a lowered marginal price. a note that is promissory be written when it comes to loan, aided by the rate of interest and major […]