Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Better to have a non-registered (taxable) investment account in one/both names and/or based on income?
It should be in the name(s) of whomever puts money in the account.  When filing your taxes there will be a question or space to mark the percentage of income in each others name. If you're just looking for small amounts of income splitting, then it's legal for the higher earning spouse to pay household expenses and then the lower earning spouse can save all or some of his/her income. Whether or not to have 2 accounts or not has more to do with estate planning and minimizing account fees if applicable.  It can also help in a small way for asset allocation if that's based on family assets and also, minimizing commissions.