retirement

Tax season is looming and if you are currently retired or approaching retirement, you may be wondering if the new pension income splitting tax rules hold any benefit for you. Could be – pension income splitting can be a very effective way to lower a household's overall tax bill … but, as with any tax law, there are specific rules and conditions to pension income splitting that you need to look at very carefully to ensure the most optimal split for your situation.

By Kian Ghanei 

Where will your retirement paycheque come from? Most likely, it will be made up of income from a number of sources. By knowing what those sources are – and the different options available to you – you may be able to pay less tax and help ensure your income will be sufficient to fund your retirement dreams.

The government