# Joint Account Interest Reporting on Tax Returns



## kjeffrey (Feb 7, 2017)

I have a joint savings account with my spouse. I had income last year while my spouse did not have any. Can I show all the interest income on my wife's Tax returns or do I have to split 50% for each of us?

Thanks


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## OnlyMyOpinion (Sep 1, 2013)

Who contributed the money to the account that is creating the income? That is who must report it.
This is part of the CRA's attribution rules.

Added: Was looking for a link with a clear explanation. Perhaps this: https://turbotax.intuit.ca/tips/can-i-split-my-capital-gain-with-my-spouse-2-6360
And this: http://deanpaley.com/the-income-splitting-rules/


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## OhGreatGuru (May 24, 2009)

Proportionate to the attribution rules is the technically correct answer. However, in practice, CRA does not question how you divide the family budget. If you have been reporting it 50/50 in the past, I would suggest staying that way. You are more likely to get their attention if you suddenly change it to 100% for your spouse to take advantage of the fact she has no income this year.


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## kcowan (Jul 1, 2010)

CRA did accept a one time change in allocation for us. I had all the backup for the rationale but they never blinked.


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## AltaRed (Jun 8, 2009)

OnlyMyOpinion said:


> Who contributed the money to the account that is creating the income? That is who must report it.
> This is part of the CRA's attribution rules.
> 
> Added: Was looking for a link with a clear explanation. Perhaps this: https://turbotax.intuit.ca/tips/can-i-split-my-capital-gain-with-my-spouse-2-6360
> And this: http://deanpaley.com/the-income-splitting-rules/


I agree attribution based on contribution is the correct way, though I acknowledge CRA is unlikely to challenge a 50/50 split, particularly if that has been the reporting history of this account.


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## kjeffrey (Feb 7, 2017)

Thank you all !


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