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income splitting rules
Whether you live in a dual-income house, or are working with family members, it is important in Canada to understand income splitting rules. During COVID, with many small businesses relying more on family members to help out in British Columbia and Canada, it’s even more important to know income splitting rules.  Income splitting is simply when income from one (high-earning) family member is transferred to another (low-earning) family member to reduce tax burdens. In B.C., even though the marginal tax