We are always happy to receive bonuses at the start of the year, but when these are then eaten up by taxes, some of your customers may see red!And so there is less risk of moving to the next higher tax bracket.

RRSP

For 2015, the RRSP season has ended since February 29, 2016. But it is already high time to think about next year. Let us take the case of people who would receive bonuses.The reflex is often to use them to catch up on RRSP contributions that we did not benefit from the previous year,” explains François Bernier, director of advanced planning techniques. We should also have the reflex to use this amount to get ahead of the RRSP contribution for the following year. Because this money will have the opportunity to benefit from an additional year tax-free. By doing this, your client is one year ahead of performance. For the Taxation Return Preparation In Australia this is important.

Split Your Pension Income

Once you retire, you can split your pension income with your spouse.The advantage is that it makes it possible to equalize the tax bill between two spouses and therefore to take advantage of the tax ceilings. Another advantage of this splitting, being able to obtain two tax credits for pension income, one for each of the spouses, while preserving the man's PSV.

Convert A Small Sum

People who are well off financially tend to delay their RRSP disbursement in order to avoid paying taxes.Be careful, however, that your client does not go to the next higher tax bracket because of this amount. The profit would then be wiped out!

About the Company: Act for You happens to be the best option for the best taxation related information. Here you will be getting the most professional and personal options for the taxation process.