To build on what Ms. Wong was asking earlier, there is now a tax-free savings account that has a $5,000 per person contribution, so a family, a couple, could put $10,000 into what would be essentially their own pension plan.
I'm going to make a suggestion and I'd like your thoughts on this.
We were talking earlier about a period in a woman's life when she would often be home caregiving for children or caregiving for an infirm aged parent. We recognize that those times happen in people's lives. Would it be beneficial to look at income-splitting for that period of time, when the income earner could transfer a portion of income to the caregiver, thereby lowering the income tax payable by both of them, and yet they could still take advantage of RRSPs or of the tax-free savings account? Is that another approach to how this could be accomplished?