What are some Income Splitting Worksheet usage scenarios?

Jay Goodis -

Mr. A is considering paying (or has paid) Mrs. A a salary from his sole proprietorship

  • Use this worksheet to showcase the net after tax savings to Mr. A and the net after cost to Mrs. A based on each of their tax brackets to quantify the tax savings of the income splitting opportunity.

Mrs. A is considering sharing her Canada Pension Plan retirement pension benefit with Mr. A.   

  • Use this worksheet to showcase the net after tax savings to Mrs. A and the net after cost to Mr. A based on each of their tax brackets to quantify the tax savings of the income splitting opportunity. 
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