The ITA contains many provisions, such as the Attribution rules and the Tax On Split Income-TOSI rules that prevents taxpayers from splitting income amongst related persons who are in low tax brackets and thus resulting in reduced taxes at the family level. However, the ITA does provide for many arrangements that will permit income to be split between related persons Required: In a concise point form format, list and very briefly describe at least 4 or more of the ITA sanctioned income splitting arrangements that are either prescribed registered plans or are allowed tax

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The ITA sanctioned income splitting arrangements that are either prescribed registered plans or are allowed tax planning arrangements are briefly desc... View the full answer