Latest / Shane Hewitt and The Nightshift
Turn Common Law Into Tax Savings: What One Year of Living Together Might Unlock
You open your fridge. Half a cantaloupe is rotting. The bag of onions from Costco never stood a chance. Singles tax isn't just about April 15th. It's about every grocery run where the bulk discount requires buying more food than one person can eat before it spoils in your 700-square-foot apartment with no basement freezer.
The tax code gives couples spousal RSPs: the higher earner puts money in the lower earner's retirement account, sheltering more income from tax. Singles can't do this. Couples pool medical expenses to hit the deduction threshold. You won't. After retirement, they split…
The skinny
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