There are a set of rules in the Income Tax Act (”ITA”) that are designed to block your attempts to shift income from you to another person (usually your spouse or children) - these are the attribution rules. Following is an outline of when these rules will apply.
Attribution between Spouses
If you transfer or loan [...]

Saving tax is a topic that almost everyone is interested in. Despite rules in the Income Tax Act to limit ways to save tax, there are still some ways to accomplish tax savings through income splitting with your family members.
This article will examine some of the methods available with your spouse. The next article in [...]

Do you know how the Federal Pension Income Tax Credit is calculated?
Did you know that ‘pension income’ is calculated differently depending on your age?
Do you know what is excluded from ‘pension income’?
Are you aware of tax planning strategies using the pension income credit?
This article will help you [...]

As of January 4, 2004, Canadians who are eligible for employment insurance can claim the new “Compassionate Care Benefit.” It is available to those workers who must leave their place of employment to care for or support a seriously ill family member.
Compassionate care is a special employment insurance (EI) benefit that provides six weeks of [...]

Beware of attribution rules when gifting property to family members.

Gifts and non-arm’s length transfers are subject to numerous and complicated rules under the Income Tax Act, the affect of which is to nullify the use of inter-vivos gifts as a means to certain income-splitting schemes designed to shelter capital gains and other income in the [...]