Quote:
Originally posted by SleazyDream
helps to have a wife. I pay her an income (she does my books) over and above her wage (she's a full time teacher)- It really pisses her off cause I GIVE her more money then she makes - and then buy spousal RRSPs in my name with her income. Course I have to pay the tax on the money I give her though but by doing that I save on taxes as well - splitting income. Lets me have amost a doube RRSP every year - can't quite do a full RRSP on her income cause her pension reduces it by a bit, but only by a few grand, I can almost get another $10k on her for my spousal account - it's sweet.
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yeah, that is sweet. i used to do that with my girl friend (she was common law) - income splitting to reduce taxes. too bad we broke up ;)