Split income received by a child under the age of 18 is taxed at the highest personal tax rate that would otherwise be payable on the type of income received.
Section 120.4 of the Income Tax Act
I hope you find my posts useful and informative. If you have a suggestion for a topic to be covered, please email me or leave a comment on one of the posts.
John Moore CPA,CA
Enter your email address to subscribe to this blog and receive notifications of new posts by email.
RSS - Posts
RSS - Comments