Tax planning/Income splitting


Is it permissible to put shares/investments in my spouses name to reduce tax liability (if they don’t work etc)? Would I still be the actual owner if i do this?

  1. You can use legal loopholes to reduce tax liabilities like it is done by many companies. Some accounting firm specialise in this field too.

  2. The ownership of the shares from a shariah perspective would be down to the arrangement that you have between yourself and your wife. This is very important to determine, as one of you will be responsible to pay the zakat on the shares.

And Allah knows best!