TAX QUESTIONS? YOU ASK LAH!

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Q: Previously, my wife and I were taxed under separate assessment. This year, my wife will elect to have our total income aggregated in a combined assessment under my name because we find it beneficial in terms of lower tax liability. What should be filled in the 'type of assessment' section in her income tax return form?   

A: Your wife, who elects to have her total income aggregated with yours and assessed in your name, should select ‘’Joint in the name of husband’’ in the ‘’type of assessment’’ section in her income tax return form.     

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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