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No, different income sources attract different marginal tax rates.
Edwards v. The Queen. A recent decision from the Federal Court of Appeal, Edwards v. The Queen (2012 FCA 330), contains interesting dicta regarding the Canada Revenue Agency’s (CRA) administration of proposed legislation in the last decade or so, with the presiding Justice JA John M. Evans declaring it “fundamentally unfair.”
You can have zero income and pay zero taxes but still receive refundable tax credits in Canada—simply by filing a tax return. But because many of these credits are based on “family” rather than “individual” net income, you and your spouse need to file tax returns together.
Advance income tax rulings can be a useful tool in business and personal wealth planning because they provide certainty and confidence.
What happens with accumulated income payments from a Registered Education Saving Plan (RESP) when the plan is a joint plan?