Quote:
Originally Posted by Bill Bumface
Luckily my kid will be born just after this expires. I guess I'll just spend their education money on beer.
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Beats them spending it on beer
Seriously though, the money from the Feds that everyone with kids just got is taxable, but its taxable in the bracket of the lower earning spouse. Since my wife is still at home, her income is very low, so not much tax payable. We dumped the ~$500 into the RESP to finish off this year's contributions.
Granted that will probably hurt my "family tax cut" savings from income splitting...