Tax-Free Savings Accounts

Tax-Free Savings Accounts

What is a TFSA? Tax-Free Savings Accounts are a savings mechanism introduced by the federal government in 2009. They are meant to encourage people to save by allowing deposits inside…

Income Splitting

Income Splitting

What is income splitting? Income splitting is a tax-reduction strategy in which a taxpayer divides income or wealth with lower-income family members so that income is taxed at lower rates…