I own a property. Can I give a Rental Power of Attorney to my Adult son who can collect the rent cheque from the tenant in his own (my son's) name and and use the rent for his purposes..
The purpose is to save tax as I fall under the highest tax bracket and the rent income will be taxed at the highest tax bracket whereas my son is a student and does not earn currently so the rent tax will be in the lowest bracket.
Thanks
Sanjiv