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Income splitting for T3 and T5


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Hello, I would like to do income splitting on me and my spouse's T3 and T5 because my earnings this year is significantly higher than my spouse's.  Our investment accounts are joint.  Can I enter 100% to the question "When the income relates to a JOINT account, enter your percentage share in the account"?  Then, say "Yes" to the question "Do you wish to transfer the remainder to your spouse's tax return (if applicable)?".  I'm unsure if one spouse claims 100% of it, what else (remainder) is there to transfer to the other spouse? Thanks in advance.  

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Hello Canadian,

You cannot simply split ("income splitting") or optimize  a capital gain / dividends or interest  with your spouse (or others).  It is pre-defined as per the account set up with the financial institution as per each of your monetary contributions to a particular account.
This is because of the Attribution Rules, tax rules which have been especially created to limit income splitting (shifting income from a family member with a higher income to a family member with a lower income to reduce the overall tax a family has to pay).
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/it511r/archived-interspousal-certain-other-transfers-loans-property.html

If the account is 100% then leave blank

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