How do I split my income to save on tax liability?

You will most likely want to talk with a professional about splitting of income amount your family. This can be achieved but it is more accurately completed by a professional who understands the procedure and process. Canada allows spousal register retirement saving plan, splitting of employer pension income, CPP splitting and many other financial options to help reduce tax liability. It is important to understand your overall financial goals because focusing on reducing your tax liability may have an impact on another part of your goals