Are my legal fees tax deductible?
In some cases, legal fees are deductible. For example, legal fees that are paid to pursue child or spousal support are deductible from the recipient spouse’s income. The Income Tax Act specifically...
View ArticleWhen am I considered not “married” for income tax purposes?
For income tax purposes, you are no longer “married” if you and your spouse have been living separate and apart for a period of 90 days or longer. The stage of your legal separation or divorce...
View ArticleI have to transfer assets to my spouse as part of our Separation Agreement....
Whether property can be transferred to your spouse without triggering immediate income tax liability depends on the type of property being transferred. In most cases, property can be transferred...
View ArticleWill my Canada Pension Plan be affected by my divorce?
Married and common-law spouses who cohabited for at least 12 months may apply for equal division of Canada Pension Plan (CPP) credits upon being granted a divorce or legal annulment. CPP credits...
View ArticleAm I free to claim personal tax credits and deductions in the same way as I...
A change in your marital status will require some planning and coordination between you and your former spouse where claiming personal tax credits and deductions for your dependent children are...
View ArticleI am the recipient of the Universal Child Care Benefit. Is this taxable income?
If one parent has sole custody of the child(ren), then the Universal Child Care Benefit (UCCB) will be paid to that parent. Under shared custody, you can apply to split the payment equally between the...
View ArticleWednesday’s Video Clip: Two Necessary Evils – Know Your Obligations on Income...
Wednesday’s Video Clip: Two Necessary Evils – Know Your Obligations on Income Tax and Spousal/Child Support Income tax: Not a popular concept even at the best of times. But add in the obligations,...
View ArticleDoes Husband’s Bankruptcy Suspend His Obligation to Pay Costs Order in Wife’s...
Here’s a legal scenario to consider: The husband in a divorce proceeding is ordered by the court to pay $35,000 in legal costs to the wife. He fails to pay – or even to make any attempt to pay. The...
View ArticleOn Income Tax, Support Arrears, and Retroactive Support
On Income Tax, Support Arrears, and Retroactive Support Income tax time will be upon us soon enough. If you are receiving spousal support from your former spouse, you may wonder how those support...
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How the CRA Changes Help Those Facing Domestic Violence
How the CRA Changes Help Those Facing Domestic Violence Individuals who live in fear of domestic violence, or who are already survivors of it, are among the most vulnerable in our society. But under a...
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