Mismatched tax rules on income splitting show the government is getting dressed in the dark

1 month ago 10

Rommie Analytics

The tax on split income is not a principled tax policy; it's a sock drawer nobody's checked in decades.

A young relative showed up at a family gathering last week in flip-flops with one white sock and one black. She shrugged when I pointed it out, saying she’d been rushing and hadn’t noticed. I was the first person all day to say anything.

A kid in my high school class 40 years ago did the same thing on purpose. Everyone thought he was strange. Today, nobody bats an eye until someone points it out.

The Income Tax Act has many pairs of mismatched socks. Legislators are often more comfortable with a provision’s poli...

Read Entire Article