income split

Income splitting is currently a matter of debate in Canada.

She believes in giving more federal money to cities, and in income splitting.

There are often still methods of using income splitting to reduce taxes in these jurisdictions.

On the other hand, eliminating the marriage penalty would entail ruling out the income splitting idea.

Income splitting became available explicitly in the United States in 1948.

Car sales reflect the income split between Russia's economically stagnant east and the expanding west.

He also championed "income splitting" for families with children and regular adjustments to tax thresholds.

Income splitting is the default behaviour in countries which allow or require spouses to file a joint tax return.

Conservatives promised income splitting for tax purposes for families with children to be implemented once the budget is balanced in 2013.

Income splitting is the legal concept of fusing a married couple into a single economic entity for purposes of tax filing status.

The primary advantage of income splitting is that it reflects that the household rather than the individual is the basic economic unit.

In part because of these concerns, income splitting is becoming less common globally, and, since 1970, it has been abolished in seven of the countries.

This led to equity issues among taxpayers in community property and those in common law states and hastened the passage of de jure income splitting.

Income split method - this values the brand as the present value portion of the economic profit attributable to the brand over the rest of its useful life.

In part to mitigate the effects of the government's decision to tax income trusts, finance minister Jim Flaherty introduced income splitting for seniors in 2006.

"It used to be that a rising tide lifted all boats, but at a certain point during the 1970's, social health and per capita income split apart," Mr. Miringoff said.

However, couples in community property states such as California had access to de facto income splitting since one-half of the income of one spouse could be attributed to the other spouse.

He has proposed income splitting for young couples and families, and campaigned to scrap the Human Rights Tribunal of Ontario, replacing it with a courts-based system of settling complaints.

With the family's income split between paying rent and maintaining the household, the Smiths did not have enough to pay for prescriptions, let alone a three-day trip for two to upstate New York.

The TFSA also allows income splitting to an extent, because a higher-earning spouse can contribute to the TFSA of a lower-earning spouse.

Thus in a jurisdiction with progressive taxation and different tax filing statuses for married and for single filers, income splitting would penalize dual earners and benefit single breadwinning couples.

I would welcome a parallel move to improve the conditions of mothers at home - for example the introduction of income splitting or transferable tax allowances for couples with a full time carer at home.

The bonus results from the fact that joint filing approximates income splitting--that is, it essentially shifts some of the higher earning spouse's income into the lower earning spouse's tax bracket, thereby reducing the couple's overall tax liability.

In most cases, it said, that would be work performed between the time the option was granted and the time it vested, even if the actual exercise of the option was several years later, with the income split among countries based on the amount of time worked in each country.

For a married couple, if both members earn the same income they would have a higher income tax liability under income splitting because under progressive taxation the other spouse's income is added on top and is the extra income and thus all subject to the tax rates at the top.