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
  #21 (permalink)  
Old 11-17-2010, 11:24 AM
Member
 
Join Date: Nov 2010
Location: Ontario
Posts: 89
Frustrated_DAD is on a distinguished road
Default

If both claim the Child on Income Tax Return then they will both be asked to return any benefits they receieved. Only one can apply.
I know where both parties did apply their child on both income tax returns for 3 yrs and then Revenue Canada noticed. Now she is paying back $7000.
Her ex only makes $11000/yr so it does not affect his Return but he will not let her use it for spite.
It needs to be marked in the agreement that one gets to claim their child on Income Tax Returns or they alternate years.
Also in a 50/50 split the lowest income gets the monthly Child Tax Credits.
Reply With Quote
  #22 (permalink)  
Old 11-17-2010, 11:59 AM
NBDad's Avatar
Senior Member
 
Join Date: Dec 2009
Location: New Brunswick
Posts: 2,734
NBDad is on a distinguished road
Default

Quote:
If both claim the Child on Income Tax Return then they will both be asked to return any benefits they receieved. Only one can apply.
This would be applicable in a shared custody situation where both parents would have the child over 40%...technically in that instance NEITHER is eligible to claim the child, since you are not allowed to claim a child you pay support for. In a sole custody situation (where one person has the child over 61%) then THAT person is permitted to claim the child. If the other tries to, you will be asked by CRA to prove your entitlement. The person with the child in a sole custody situation would be able to.

Quote:
Also in a 50/50 split the lowest income gets the monthly Child Tax Credits.
Both incorrect and technically illegal. You cannot write in anything to do with the CCTB/UCCB in a family court order. It's not enforceable. By LAW, when the situation changes, you are legally obligated to inform CRA of the change, and THEY make the determination via the guidelines in the Income Tax Act, as to whether the change warrants a change in the payment arrangements.
Reply With Quote
  #23 (permalink)  
Old 11-17-2010, 12:02 PM
Member
 
Join Date: Nov 2010
Location: Ontario
Posts: 89
Frustrated_DAD is on a distinguished road
Default

Correct on the CCTB/UCCB. Just found out. So for 50/50 they should both apply: Shared Eligibility
Thank you for correcting this.
Reply With Quote
  #24 (permalink)  
Old 11-17-2010, 12:08 PM
Senior Member
 
Join Date: Mar 2010
Location: Burlington
Posts: 171
CISTEAD is on a distinguished road
Default

Might I suggest, if you don't have Joint or Split Custody, that you include that the childrens names are to remain the same, and that you want yearly disclosure from school, Dr.'s, CAS if necessary. Yes I know that in fact we are entitled to this, but you can't imagine the struggle we are having dealing with School officials etc that don't want to ruffle mom's feathers and call her for her permission every time we make a request. If we could provide an agreement proving entitlement, we could avoid the whole " permission" issue. And that if either party moves, that a halfway meeting point should be established.
Reply With Quote
  #25 (permalink)  
Old 12-15-2010, 10:36 AM
Junior Member
 
Join Date: Nov 2010
Posts: 14
firstouting is on a distinguished road
Default

Quote:
The best agreements, by way of success, are those where both parties sit down together and come up with their own agreement. Its when one of them gets to sit down for some advice that it often goes nasty and those with a vested interest having some endless litigation just throw some fuel on the fire to create another "good client".

Copying someone elses separation agreement from an internet forum is almost certain to guarantee problems. The best agreements are those that work successfully and you those who sign them are most unlikely to make their agreement public.
Those who do their own and then find out later the problems or lack of foresight the agreement does not cover have or may have even greater problems or issues and legal bills.

An addition I had drawn up in my own agreement that she would never sign was a dispute mechanism where 3 mediators were agreed to prior and if an issue could not be settled between ourselves....the arguement //issue would be presented in writing to the mediator or a 1hr to 2hr meeting and the mediator would decide which viewpoint they would follow. The person who lost would also be responsible for the mediators fee's.

They could of course then challenge the stance of the mediator in court if they desired...but having a built in dispute mechanism with a degree of financial accountability would i was told insure some parents be a little more responsible or fair.
Reply With Quote
  #26 (permalink)  
Old 12-15-2010, 12:18 PM
Senior Member
 
Join Date: Jul 2009
Location: Vaughan
Posts: 2,369
billiechic is on a distinguished road
Default

Quote:
Originally Posted by NBDad View Post
This would be applicable in a shared custody situation where both parents would have the child over 40%...technically in that instance NEITHER is eligible to claim the child, since you are not allowed to claim a child you pay support for.
I thought this had been changed? Anyone know??
Reply With Quote
  #27 (permalink)  
Old 03-10-2011, 08:08 AM
Junior Member
 
Join Date: Nov 2009
Posts: 4
cannon_fodder is on a distinguished road
Default

Our agreement does not have the clause for child support to continue should our child pursue secondary education.

If my daughter does decide to go to the university she is targetting, and remain living at home as she has planned, the money I've set aside in her RESP would cover her tuition, books and activity fees.

Is it better than 50/50 chance in the province of Ontario that my ex would be successful in seeking legal action which would force me to continue to pay child support? Would it be over and above what the child earns and what payments would come from the RESP?
Reply With Quote
  #28 (permalink)  
Old 03-10-2011, 08:32 AM
dadtotheend's Avatar
Senior Member
 
Join Date: Jul 2007
Location: Toronto
Posts: 3,644
dadtotheend will become famous soon enoughdadtotheend will become famous soon enough
Default

More like 90/10 that you would continue to pay CS for the first university degree.
Reply With Quote
  #29 (permalink)  
Old 03-10-2011, 09:38 AM
Junior Member
 
Join Date: Nov 2009
Posts: 4
cannon_fodder is on a distinguished road
Default

Quote:
Originally Posted by dadtotheend View Post
More like 90/10 that you would continue to pay CS for the first university degree.
Thanks for the response.

I remember someone saying the absurdity is that a child of 18 (or 19 depending on province) of both parents who remained together has no recourse to force parents to pay for a secondary education nor support them in any way.

I've been doing my best to explain to, encourage, and even scare, my daughter that she MUST get a university degree. And i'm thrilled to be in a position to ensure she can achieve that with no student debt.

Sometimes its hard for me to understand why it's the law or convention to continue to pay CS when a child becomes an adult because I put myself through university including living away from home. I have no doubt my parents would have helped me if I needed it. But, I worked, did well at school, and tapped into my savings.

My daughter will probably have enough RESP money from me alone to cover living on campus, food, tuition, books. That seems more than fair by my way of thinking but I'm not the one setting the rules. Perhaps her mother will see that as fair enough.
Reply With Quote
  #30 (permalink)  
Old 03-10-2011, 10:53 AM
dadtotheend's Avatar
Senior Member
 
Join Date: Jul 2007
Location: Toronto
Posts: 3,644
dadtotheend will become famous soon enoughdadtotheend will become famous soon enough
Default

Quote:
Originally Posted by cannon_fodder View Post
I remember someone saying the absurdity is that a child of 18 (or 19 depending on province) of both parents who remained together has no recourse to force parents to pay for a secondary education nor support them in any way.
...

Sometimes its hard for me to understand why it's the law or convention to continue to pay CS when a child becomes an adult because I put myself through university including living away from home. I have no doubt my parents would have helped me if I needed it. But, I worked, did well at school, and tapped into my savings.
Said it before and I'll say it again.

It's because the law doesn't want to be involved in these family matters. The law would prefer to have the family sort it out for themselves.

But if the family is unable to do so, for whatever reason, then the law is going to fall on the side of the fence that best meets the interests of the children.

That means supporting the children. Period.
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
Sample of Separation Agreement Rao Agnihotri Divorce & Family Law 2 11-12-2009 07:29 PM
sample separation agreement?? billiechic Divorce & Family Law 5 08-27-2009 09:35 PM
Sample Separation Agreement dad4life Divorce & Family Law 3 11-17-2008 11:32 AM
Sample Separation Agreement waterworld Divorce & Family Law 2 12-07-2006 11:06 PM
When is a SEPARATION AGREEMENT an Agreement dvr Divorce & Family Law 1 06-15-2006 07:23 PM


All times are GMT -4. The time now is 04:56 PM.