| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
income |
between spouses |
|
Summary:
The claimant contended that the business, operating under the name KyCo Industries, belongs to his wife and that his share of the net income, in the year 2004 of $14,161.65 was paid to him for the purpose only of income splitting. Income splitting for tax purposes will not relieve the claimant from the allocation. The money he received is considered income in his hands. In any event, the claimant owned 50 percent of the business and 50 percent of the net income belonged to him.
