A Pension Assignment Occurs When a Married or Common-Law Couple

question 117

True/False

A pension assignment occurs when a married or common-law couple decides to share their CPP retirement pensions in order to reduce their income taxes.

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Definitions:

Economic Benefits

Advantages gained, typically measured in terms of revenue, production, and employment, resulting from certain activities or investments.

Reducing Tillage

Agricultural practice of minimizing soil disturbance, aimed at preserving soil health and reducing erosion.

Managing Irrigation

The process of applying controlled amounts of water to plants at needed intervals, focusing on conserving water and ensuring its efficient use in agriculture.

Soil Covered

The top layer of the earth's surface composed of mineral particles, organic matter, water, and air, which supports plant life.