Keep More of Your Money - 7 Tax Saving Tips for Seniors

Wednesday Apr 26th, 2017


1. INCOME SPLIT AND SAVE Seniors are allowed to split up to half of their eligible pension income with a spouse or common-law partner. Income splitting allows some seniors to enjoy a significant tax reduction. In the situation where the lower-income spouse has very little income, the tax savings are substantial.   2. GET YOUR BENEFITS Any senior receiving Guaranteed Income Supplement (GIS) through Old Age Security should file on time to ensure their benefits continue... [read more]