The notion of you to definitely spouse lending money to the other may sound a little while uncommon. At all, you probably did promise getting together to possess wealthier and you can poorer. Thus, why would you loan your spouse money? For the majority of people, it’s a great tax means.
A kind of Income Splitting
Besides pension splitting, truth be told there commonly various ways to out a couple’s money. If one mate brings in a whole lot more than the almost every other, a number of loans and you will deductions shall be transmitted during the taxation date yet not far else you can certainly do to attenuate the greater earner’s tax bill.