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

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Old 11-05-2017, 04:34 PM
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denbigh is on a distinguished road
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I amposting this for anyone else who didnt know this. I did not know this until to today, you are suppose to update CRA of separation 90 days post separation. Especially if your income has dropped because of separation, then it may influence amount you get in child tax benefit. I just thought I would update it at next tax time, but are supposed to do it fairly soon.
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Old 11-13-2017, 11:15 PM
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This is something that has changed not that many years ago. Any change in marital status for tax purposes needs to be reported in a “timely manner”, especially when income tested benefits (Child tax benefit, GST or Trillium credits) are a factor as these are based on net household income. This is true of all changes, but separation must wait 90 days because anything less doesn’t count.
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Old 11-14-2017, 07:07 AM
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They do this 90 days in case you reconcile and its not just a fly off the handle momentary decision made in an argument that is regretted shortly after. Any changes made and money owing will be backdated to actual date of separation.
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