Income splitting is not simple. As you can see
in this animation a 50/50 split is often
not the best.
If you do have the ability to allocate income (or deductions)
to either yourself or your spouse, and if you split your
income 50/50,
you could be paying $2,100 more tax than if you split your income
optimally.
Finding the optimal income split is the hard bit. It is the
type of thing that MOTHER was designed to do, simply and effectively.
How did you go last year? How will you go this year? Download MOTHER to check. Even a dollar should have been left in your pocket rather than going into the government's sinkhole. That is why you pay to get your tax done, isn't it?.
To learn about the Income Splitter and MOTHER please visit our tutorial
NEW - Budget Changes May 2008
If you are a financial professional and would like information about MOTHER for next financial year please email us.