Secrets in TAX Saving
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- Secrets in TAX Saving
Secrets of TAX saving is “S E C R E C T”
- S —> Split — Split from high income tax bracket to the low income tax bracket
- E —> Eliminate — Eliminate as much as taxes by maximising your deductions and credit.
- C —> Claim — Claim everything you are allowed to claim whatever is legal.
- R —> Rearrange — Defer or Postpone paying taxes. Don’t pay today but pay tomorrow
- E —> Expatriate — Invest outside Canada (Note: This need lot of planning)
- T —> Tax Shelters — A good tax shelter can give you the opportunity to watch your invested money grow .