income splitting

noun

Definition of income splitting

: an assigning of income for purposes of taxation in equal shares to two or more persons (as husband and wife) irrespective of which one actually received the income

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“Income splitting.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/income%20splitting. Accessed 26 Nov. 2020.

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