Can I split my income with my spouse?

[Calio]

My spouse makes significantly more money than I do. Is there an option in UFile that allows us to split his income so we can reduce our tax liability? Is income splitting even permitted in Ontario?

[Geo123]

Hello Calio,

You cannot simply split or optimize income such as employment income.  For investment income the same applies , you cannot simply split or optimize income- capital gain / dividends or interest  50/50 with your spouse (or others).  It is pre-defined as per the account set up with the financial institution.
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

Note that you can split certain types of pension income. 

Pension Split
The program automatically processes the tax you already paid on the eligible pension income in proportion to the elected split-pension amount

[Calio]

Thank you. Your reply was very clear and helpful! I appreciate it. 

[Geo123]

Hello Calio,

Glad to hear it, you are welcome.