Commentary on Sections Relevance of “earned income” Section 837: Jointly held property: declarations of unequal beneficial interests
2528.This section enables couples to specify that the 50:50 rule does not apply to income arising from particular property held in common, so that the income is then allocated according to each individual’s beneficial interest. It is based on sections 282A and 282B of ICTA.
2529.A declaration can only be made where the entitlement of each individual to a share in the income matches the entitlement to his or her share in the underlying property (subsection (1)).