Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Reply
 
LinkBack Thread Tools
  #11 (permalink)  
Old 06-17-2017, 02:01 PM
Senior Member
 
Join Date: Mar 2014
Posts: 3,004
rockscan will become famous soon enough
Default

Withdrawing from your rrsp is considered income which is added to your line 150.

Contributions mean nothing. There may be an argument that a company supplied rrsp contribution should be considered income as its a benefit. Not sure if its been argued though.

Bottom line, your rrsp is considered income if you take anything out.
Reply With Quote
  #12 (permalink)  
Old 06-18-2017, 10:37 PM
Senior Member
 
Join Date: Aug 2009
Location: Mississauga
Posts: 162
Desperate_Dad is on a distinguished road
Default

What you have to understand here is that you are dealing with brain dead people (lawyers and judges) who know nothing about financial information.

This was an issue in my case that actually went to trial. I didn't want to take out RRSP's but as many people know, sometimes you have to do it because finances are tight. There are precedents for it being included and excluded. But all that means is that the lawyers and judges who want it included are wrong.

Essentially including RRSP's as income is a form of double dipping. It has already been split at separation.

I had to go to trial as a self represented litigant on this issue. I articulated everything clearly and the Judge ruled in my favour. She was represented I was not. It doesn't matter how many times you withdraw RRSP's, it is always not included in child/spousal support calculations.

I mean its logical it isn't included but lawyers are immensely stupid and love stirring up trouble to soak the public of more fees.

AND - Always remember LINE 150 is not income. It is a starting point before proper adjustments are made.

Regards.
Reply With Quote
  #13 (permalink)  
Old 06-18-2017, 10:53 PM
arabian's Avatar
Senior Member
 
Join Date: Jan 2011
Location: Western Canada
Posts: 9,961
arabian will become famous soon enough
Default

good post DD. "line 150" is often misunderstood with regards to determining income for support.
Reply With Quote
  #14 (permalink)  
Old 06-18-2017, 11:04 PM
Senior Member
 
Join Date: May 2017
Posts: 148
Tandem80 is on a distinguished road
Default

Quote:
Originally Posted by arabian View Post
good post DD. "line 150" is often misunderstood with regards to determining income for support.
Here here! All it took was to read the Federal Guidelines a million times
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 Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Are gains in my RRSP used in calculating child support? Netflix Financial Issues 9 02-11-2015 02:10 PM
Pension plan change affects my child support payment..how is this fair! LifeMovesOn Political Issues 3 02-28-2013 04:35 PM
Lump sum for Child Support ? shellshocked22 Financial Issues 8 02-07-2011 08:08 PM
Child support - line 150 or not? LovingMom5 Financial Issues 8 07-16-2010 12:25 AM
Child Support / Early Retirement, Lump Sum Payout mgh Financial Issues 10 04-12-2006 11:28 AM


All times are GMT -4. The time now is 11:46 AM.