Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > General Chat

General Chat This forum is for discussing anything that doesn't fit into another forum, or for discussing things that are off topic, or just for general venting.

Reply
 
LinkBack Thread Tools
  #21 (permalink)  
Old 12-17-2014, 08:07 PM
Hand of Justice
 
Join Date: Jan 2013
Location: In the Shadows
Posts: 3,139
Links17 is on a distinguished road
Default

Quote:
Originally Posted by Serene View Post
Links is stating a fact. Albeit it's a little backhanded in the way he presented it. But I agree with him: women of long term marriages DO get half the assets and income share with their husband. Another reality is, when they income share, they tend to do better as they are not taxed at the same rate as their former spouse.

Listen: both my hubby and his ex "share" his income. He still pays tax on ALL his income he gets to keep. She pays none.

And she gets the full CCTB (almost another 1K a month).

That's not income "sharing" any more. As the scales are heavy to one side and lighter to the other.
This isn't actually true Serene - Spousal Support is taxed the same way for either party. Child Support is the place where they scam via taxes...
Reply With Quote
  #22 (permalink)  
Old 12-17-2014, 08:31 PM
Janibel's Avatar
Senior Member
 
Join Date: Jun 2013
Location: Way up North
Posts: 1,497
Janibel will become famous soon enough
Default

The imbalance that Serene is referring to is to offset the fact that many women lose most of their benefits, life insurance, medical insurance, private pensions etc. and have very little chance of recuperating these advantages after a certain age?

One does not get full benefits working part time at Tim Horton's and older women who were SAHW for decades have little chance to gain decent wages with company perks. This is why IMO judges will rule in their favor when there is long term marriage.


P.S. thanks for the links Links.
Reply With Quote
  #23 (permalink)  
Old 12-17-2014, 08:56 PM
arabian's Avatar
Senior Member
 
Join Date: Jan 2011
Location: Western Canada
Posts: 9,865
arabian will become famous soon enough
Default

Quote:
Originally Posted by Serene View Post
Links is stating a fact. Albeit it's a little backhanded in the way he presented it. But I agree with him: women of long term marriages DO get half the assets and income share with their husband. Another reality is, when they income share, they tend to do better as they are not taxed at the same rate as their former spouse.

Listen: both my hubby and his ex "share" his income. He still pays tax on ALL his income he gets to keep. She pays none.

And she gets the full CCTB (almost another 1K a month).

That's not income "sharing" any more. As the scales are heavy to one side and lighter to the other.
I think your husband needs a new accountant Serene (or you, like many simply do not understand how spousal support is taxed). What your husband pays in spousal support is 100% tax deductible. What your husband's ex receives in spousal support is 100% taxable. This income tax disparity (in favor of the payor) is taken into consideration when one has a good lawyer and a fair judge and is often the reason for disproportionate split of matrimonial assets and an increase in spousal support payment.
Reply With Quote
  #24 (permalink)  
Old 12-18-2014, 05:05 AM
Senior Member
 
Join Date: Mar 2013
Posts: 1,587
Serene is on a distinguished road
Default

No Arabian I don't need a new accountant. It may be taxable for her. But she still pays little to no tax. Last year she paid $57.

Yes he receives a tax break at source. But I tell you, he still does not take home she does in SS and CS.

Anyways its not debatable. It is what it is.
Reply With Quote
  #25 (permalink)  
Old 12-18-2014, 05:06 AM
Senior Member
 
Join Date: Mar 2013
Posts: 1,587
Serene is on a distinguished road
Default

Janibel - working at Tim's lol. She doesn't work at all! She doesn't need to with what we provide.
Reply With Quote
  #26 (permalink)  
Old 12-18-2014, 07:27 AM
Senior Member
 
Join Date: Mar 2013
Posts: 1,587
Serene is on a distinguished road
Default

One more thing: women have much more of an opportunity of recuperating financially when they make an effort to do so. Its too easy to purport the difficulties because of age and lack of experience, education, etc. As a life long scholar, employee and mother myself - it's hard at any age. Its even harder when (if) sitting on your ass all day and not putting wheels in motion.

In a year my husband is done is spousal. His ex still has no skills or education. What she will do after that is not my concern but I do often wonder why she didn't take advantage of 7 years of spousal and the opportunity to work and cohabitate with no claw back on spousal. To me it's time we'll wasted. She is bitter and angry now, I don't imagine her mindset will improve when she is down 20K a year in spousal lol
Reply With Quote
  #27 (permalink)  
Old 12-18-2014, 08:26 AM
arabian's Avatar
Senior Member
 
Join Date: Jan 2011
Location: Western Canada
Posts: 9,865
arabian will become famous soon enough
Default

So she is only receiving equivalent to around minimum wage - no wonder she pays no tax.

By the sounds of things your husband's ex suffers from mental illness. I don't think anyone would jump to change places with her.

For those of us who are self-sufficient we are fortunate. Some people have not ever been in the workforce and have no skills. Yes she will undoubtedly have a difficult time adjusting to reality unless, like many, she finds a rich man to support her.
Reply With Quote
  #28 (permalink)  
Old 12-18-2014, 08:31 AM
Senior Member
 
Join Date: Mar 2013
Posts: 1,587
Serene is on a distinguished road
Default

No Arabian she is not making equivalent of minimum wage. Remember, SS is calculated after CS. Between CS and SS she is making 40Kk a year - TAX free. Which equates to $19.23/hour tax free.

Yes it's a simplistic way of looking at it. And yes I understand the CS is for the children. But my point is, my hubby keeps less than that an hour. If it's not good money for her, then how is what my hubby keeps (less than what she gets) fair to him? We have children 45 percent of the time too.

It's good money for her. Definitely better than a kick in the ass.

I'd agree on the mental health issue.
Reply With Quote
  #29 (permalink)  
Old 12-18-2014, 08:56 AM
arabian's Avatar
Senior Member
 
Join Date: Jan 2011
Location: Western Canada
Posts: 9,865
arabian will become famous soon enough
Default

Well I agree it does cost big money to raise children. Children are entitled to be raised in the same standard of housing/lifestyle as had they been with both parents - if the payor can afford it. Your husband gets a nice tax benefit from the SS portion he pays. Even my litigation-happy ex agrees that it's better to pay me than the government (for 3 years while he was in bankruptcy he said that if he didn't pay me he would have to pay the trustee).

It's not forever. If your husband's ex hasn't used the time/money to upgrade her skills, and has no other source of income, then she will be in a pickle. She will probably try to get SS reviewed. Her lawyer would require a substantial retainer from her which might make her think twice about pursuing it though.
Reply With Quote
  #30 (permalink)  
Old 12-18-2014, 10:02 AM
Rioe's Avatar
Senior Member
 
Join Date: May 2010
Location: Ontario
Posts: 3,217
Rioe will become famous soon enough
Default

Quote:
Originally Posted by Serene View Post
One more thing: women have much more of an opportunity of recuperating financially when they make an effort to do so. Its too easy to purport the difficulties because of age and lack of experience, education, etc. As a life long scholar, employee and mother myself - it's hard at any age. Its even harder when (if) sitting on your ass all day and not putting wheels in motion.

In a year my husband is done is spousal. His ex still has no skills or education. What she will do after that is not my concern but I do often wonder why she didn't take advantage of 7 years of spousal and the opportunity to work and cohabitate with no claw back on spousal. To me it's time we'll wasted. She is bitter and angry now, I don't imagine her mindset will improve when she is down 20K a year in spousal lol
The sad thing is that she'll probably stay unemployed and try to live off the CS alone, which means the kids will suffer. That is, if she doesn't try to have the SS extended because she's still jobless.

Some people work hard and plan ahead, and some live in the moment and assume the future will take care of itself. Neither can understand the other.

Give me seven years of SS, and I could have a doctorate!
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
Dealing with Stress Jeff Divorce Support 8 11-05-2014 11:04 AM
Child stress Indicators FB_ Parenting Issues 9 02-01-2014 04:22 PM
Ex's Stress Leave has Lowered her Gross Income Teddie Financial Issues 18 04-11-2012 10:04 AM
How do you deal with the stress? inseperationhell Divorce Support 19 09-01-2011 07:40 PM
After all the stress is gone... Enigma General Chat 2 09-17-2009 08:36 PM


All times are GMT -4. The time now is 03:36 AM.