Tax Savings for Two-income Couples: A Canadian Financial Guide

H.R. Giberson is head of the Social Studies Department at Oromocto High
School in New Brunswick.

A common question tax experts often get is about the value of two-income
work: should both partners in a single family have incomes? Birch and
Matthews answer this by attaching values to such tax advantages and
disadvantages as being out of the work force and the loss of
skills—all important considerations. A recurring theme of this
financial planning book is the need for joint planning programs.
Additional subjects, such as credit and interest payments, rrsps, and
tax-free capital gains are detailed to provide step-by-step financial
solutions.

This is a concise, well-organized review of tax savings and the
building of financial independence. Each topic is explained and enhanced
with examples and calculations. rrsps are suggested as a tax-saving
mechanism, and the value of careful retirement planning and its
dividends are stressed.