Opening new Margin Account - Joint or Individual

[A320]

Hey all,

I'm about to open a new account to be utilized for trading. Are there any advantages to classifying it as joint vs individual specifically come tax time?

Regards

[Just a Guy]

There are if you make money, as you can income split. That being said, you are talking a margin account which means you are also opening the other person to the liability...margin accounts are a good, fast way to lose your shirt if you don't know what you are doing. I'd be sure you explain the implications to your partner.

[A320]

Thanks for the quick reply. Yes the main idea, without digging deep into the CRA website, was to find out if I could income split earnings made on capital gains from day/swing trading. Don't worry she's well aware of the implications but good point!