Canadian Income Tax Software-TaxChopper Canadian Online Tax Software
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What is the Best or Optimal Pension Splitting Point?
Pension splitting lets couples whose incomes are in different tax brackets take advantage of lower tax rates. A taxpayer can split up to 50% of eligible pension income to his/her spouse. Most couples have different marginal tax rates, even when their incomes are equal. That's because many factors affect your tax rate; for example, tax reductions, surtaxes, the age factor, etc.
We find that over 70% of Canadian seniors who are eligible for pension splitting have a unique number we call the best-pension-splitting or optimal-pension-splitting point. If you split that amount of pension with your spouse, you get the maximum refund and one dollar less or one dollar more will reduce your overall refund. So whether or not your tax software can tell you that point is very critical.
Fortunately Tax Chopper can tell you the exact best pension splitting point, no matter how complicated your taxes are. We have solved the equation completely. Every time you check your results, if you are not splitting the optimal amount, our software will let you know.
Only one other software comes close to our ability to predict the exact best pension spiltting amount, but it requires you to find a specific page, to hit a specific button, to allow the software to test out the amount, and the amount is just close-to-best, not the real best. All other software programs are not even close to the best, and some don't have this feature at all.
That's just one more reason why Tax Chopper always gives our clients the most refund.
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Astonishing Discovery:

All other online tax software missed a popular deduction for Canadians...
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