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now as we all know the tax in canada is very very high and with high taxes it comes a lot of incentive for people to look for ways to lower their tax either right now or in the future however because the income tax act is so enormous and complicated a lot of people including myself when we first start have a lot of misconception and misunderstanding on what is allowed when we try to lower our income and save taxes and one of the most common tax mistakes people make in canada is probably opening an account for your lower income spouse and investing via that person now this might make sense on paper because if you open an account for that person and that person makes capital gain interest dividend whatever then this should be just texted for that person right well ing to the income tax act you are going to trigger something called income attribution so today lets talk about what income attribution is when do we trigger this how to properly lay down the groundwork so we can avoid such pr
