If the tax reduction cannot be fully deducted due to insufficient taxable income, can the reduction be refunded or carried forward to the next taxable period?
No, this tax reduction cannot be refunded (no tax credit) or carried forward to a subsequent taxable period.
As with the tax credit for retirement savings, any excess of the tax reduction will also not be chargeable against the other spouse's tax liability.
As with the tax credit for retirement savings, any excess of the tax reduction will also not be chargeable against the other spouse's tax liability.