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--- money:taxes [2019/12/01 22:29]
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+++ money:taxes [2019/12/02 15:31] (current)
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+===== Marriage =====
+==== Split Income ====
+<blockquote>Spousal loans are great for income-splitting and tax reduction in a household where you and your mate earn widely differing amounts. By making the less-taxed person the investor, more of the gains can be kept, so loaning that partner money makes sense. The loan rate has to be at least 2% (the current CRA level) with interest paid annually, added to the taxable income of the lending spouse. The costs are deductible, however, in the hands of the borrower. There will be no attribution of investment gains back to the lender – which is the whole point of this exercise.
+So if there’s an income disparity in your house, Curtis, you should stop co-mingling your net incomes, pay all of the household expenses yourself then loan her a pile of cash for a non-reg account. And, of course,  be a model husband. That may involve flowers and manners. Be prepared.</blockquote>
 ===== ESPP & RSU Taxes =====

Nolan's Notes