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- 08:44, 8 January 2026 LillyKarr8725 talk contribs created page Don t Panic If Income Tax Department Raids You (Created page with "<br>S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone who's in a high tax bracket to a person who is from a lower tax bracket. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't get other taxable income. Normally, the other individual is either your spouse or common-law spouse, but it could even be your children. Whenever it is possible to transfer income to a pe...")