In an interview given to La Presse, Sylvain Moreau, Tax Partner, gives advice on the tax strategy to adopt at age 65. He recommends the use of income splitting for couples, which can allocate up to 50% of a spouse’s eligible pension income to the other spouse. “This is fairly interesting. There is no single figure, but this strategy often generates a saving of $1000. Sometimes it can go up to $4000 or $5000,” Mr. Moreau explains. The expert also reviews the many income tax credit available at age 65. “The challenge is to know them and know which ones I am entitled to claim,” he adds. To learn more, see Simon Lord’s article “Retraite : la fiscalité à 65 ans” (Retirement: taxation at age 65).
05 Jun 2015 | Written by :