Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Divorce & Family Law

Divorce & Family Law This forum is for discussing any of the legal issues involved in your divorce.

Reply
 
LinkBack Thread Tools
  #21 (permalink)  
Old 10-10-2016, 11:00 PM
Member
 
Join Date: Sep 2016
Location: GTA
Posts: 64
bake is on a distinguished road
Default

Hello Rockscan, can you please explain net costing?

This year I will have spent over 5K on post-secondary expenses to date (daughter has just started 3rd year). I have not claimed anything on my taxes for the last 2 years as my daughter was not agreeable to this.

This is after having OSAP application grant (30%) deducted, and RESP.
My daughter pays 1/3 and myself and ex split the 2/3 based on 80/20 split.

I put the following forward in my offer to settle w.r.t. this issue.

In an effort to assist each child of the marriage with their financial contribution towards their portion of post-secondary expenses, I propose that each year a child attends a post-secondary institution that the child transfers 80% of the 2/3 costs (tuition and book expenses) to the respondent so that he may claim his 80% contribution on his tax return. This will benefit each child of the marriage during every academic year of post-secondary since it will monetize the tax credit immediately as opposed to deferring it to future years when the child enters the work force. The respondent will provide the applicant with his tax returns which will show the benefit of the calculation and forward the difference to the child every academic year. I also recommend that the applicant do the same. There is no financial advantage or disadvantage to the respondent or the applicant but rather an immediate financial benefit to assist each child.

Thanks
Reply With Quote
  #22 (permalink)  
Old 10-11-2016, 08:16 AM
Senior Member
 
Join Date: Mar 2014
Posts: 2,964
rockscan will become famous soon enough
Default

You cant do that. You take the tax benefit off the amount you pay. Youll need to do up a fake return online using your exs income to determine what the tax benefit is and then subtract that from the amount you pay.

Your amount will be (tuition + books - tax benefit) * 80%. Thats the net cost.

$5000 at 80% is not a lot. My partner pays ~30% and his costs for two years are at $5000.
Reply With Quote
  #23 (permalink)  
Old 10-11-2016, 01:38 PM
Member
 
Join Date: Aug 2010
Posts: 53
Perserverance is on a distinguished road
Default

What if you live in a rural town where public transit to the city is not available or even offered? Could a vehicle possibly be considered as a S7 if the child requires some form of transportation to the city for school purposes?
Reply With Quote
  #24 (permalink)  
Old 10-11-2016, 01:43 PM
Senior Member
 
Join Date: Mar 2014
Posts: 2,964
rockscan will become famous soon enough
Default

Quote:
Originally Posted by Perserverance View Post
What if you live in a rural town where public transit to the city is not available or even offered? Could a vehicle possibly be considered as a S7 if the child requires some form of transportation to the city for school purposes?


Yes and it would be. Kid would also be able to opt out of the bus pass if its included in tuition to save that $200.

The parents in this situation may want to look at the cost break down between a car or residence to live on campus. Most universities charge $9000 and up for residence whereas cars cost about $8000. With residence fees, child support would be reduced or the full table amount would be applied to the cost of living for kid.

Im not a lawyer though so this is all grain of salt advice. Most judges now are leaning on payors who make upwards of $100,000 to pay a hefty share. One would need to argue very heartily for certain costs.
Reply With Quote
  #25 (permalink)  
Old 10-11-2016, 01:45 PM
Banned
 
Join Date: Feb 2016
Posts: 1,677
trinton has a little shameless behaviour in the past
Default

Quote:
Originally Posted by Perserverance View Post
What if you live in a rural town where public transit to the city is not available or even offered? Could a vehicle possibly be considered as a S7 if the child requires some form of transportation to the city for school purposes?


What's next, the support payer has to pay the child's cellphone bills under a S7 expense?


Sent from my iPhone using Tapatalk
Reply With Quote
  #26 (permalink)  
Old 10-11-2016, 01:56 PM
Member
 
Join Date: Aug 2010
Posts: 53
Perserverance is on a distinguished road
Default

A cellphone is not at all the same thing.

I was just putting it out there as a potential reason for which a vehicle may be considered a S7. Some children may not have public transit as an option to get them to school.
Reply With Quote
  #27 (permalink)  
Old 10-11-2016, 01:59 PM
Banned
 
Join Date: Feb 2016
Posts: 1,677
trinton has a little shameless behaviour in the past
Default Is a vehicle considered an s.7 expense for post-secondary

Quote:
Originally Posted by Perserverance View Post
A cellphone is not at all the same thing.

I was just putting it out there as a potential reason for which a vehicle may be considered a S7. Some children may not have public transit as an option to get them to school.


Then the child can go on campus and child support monies can be used to cover the costs of living on campus.

Or child could come live with dad and child support monies will be spent on a brand new car that could be used to visit mom whenever.


Sent from my iPhone using Tapatalk

Last edited by trinton; 10-11-2016 at 02:02 PM.
Reply With Quote
  #28 (permalink)  
Old 10-11-2016, 02:03 PM
blinkandimgone's Avatar
Moderator
 
Join Date: Feb 2010
Location: Lucknow
Posts: 5,225
blinkandimgone has a spectacular aura aboutblinkandimgone has a spectacular aura aboutblinkandimgone has a spectacular aura about
Default

Quote:
Originally Posted by Perserverance View Post
What if you live in a rural town where public transit to the city is not available or even offered? Could a vehicle possibly be considered as a S7 if the child requires some form of transportation to the city for school purposes?
Yes, it is.

Quote:
Originally Posted by trinton View Post
What's next, the support payer has to pay the child's cellphone bills under a S7 expense?


Sent from my iPhone using Tapatalk
Yes, this is frequently considered as well.
Reply With Quote
  #29 (permalink)  
Old 10-11-2016, 02:04 PM
Member
 
Join Date: Aug 2010
Posts: 53
Perserverance is on a distinguished road
Default

Cost of living on campus vs. a personal vehicle would definitely need to be considered.
Reply With Quote
  #30 (permalink)  
Old 10-11-2016, 02:09 PM
Banned
 
Join Date: Feb 2016
Posts: 1,677
trinton has a little shameless behaviour in the past
Default

Let's spend 30,000 a piece on lawyers to figure out what would be cheaper and whether this is a S7 expense regarding her education.

Oh wait, we just went through the her tuition savings.





Sent from my iPhone using Tapatalk
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Post-secondary, 1/3, 1/3, 1/3 calculations mcdreamy Reference 32 01-31-2017 08:56 PM
Hockey. Is it considered a extraordinary expense? Beachnana Financial Issues 19 08-31-2015 07:25 AM
Paying full support and post secondary expense Mom of three Financial Issues 2 07-24-2013 12:35 AM
Post Secondary Expense - Child portion Coop Financial Issues 5 03-07-2012 10:46 PM
Are Expense Allowances Considered Income? #1StepMom Financial Issues 6 02-16-2010 09:56 PM


All times are GMT -4. The time now is 03:31 PM.