Save THOUSANDS With These Income Splitting Strategies | Income Splitting Explained

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Income splitting is a valuable tool that can save you thousands in taxes. I often get a lot of questions about what types of income can be split and how to actually do it, so we'll go through that in this video along with some strategies that involve spousal RRSPs & TFSAs at the end of the video.

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TIMESTAMPS
0:00 - Introduction
1:03 - Tax Savings
2:58 - T1032 Form
4:38 - OAS Clawback
5:45 - What Can Be Split?
7:21 - Spousal RRSP
9:40 - Importance of TFSA
11:16 - Summary

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DISCLAIMER: This presentation is for informational purposes only and should not be considered financial, investment, tax, or estate planning advice. All investments carry risk, and past performance does not guarantee future results. Any forward-looking statements are based on assumptions and may not reflect actual outcomes.

The content on this channel is for educational purposes only and does not provide specific investment or planning recommendations. Viewers should consult a qualified professional for retirement, tax, or estate planning guidance. Parallel Wealth and Adam Bornn are not responsible for any decisions made based on this content.