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.

Closed Thread
 
LinkBack Thread Tools
  #11 (permalink)  
Old 05-13-2011, 01:04 PM
Member
 
Join Date: Oct 2010
Posts: 35
SadDad2010 is on a distinguished road
Default

I agree with HammerDad. CS is based on line 150 of your return and lottery wins in Canada are not taxable so only the interest earned should affect CS.
I know if I won, I would make sure my kids were well taken care of...the nice part would be that I would be sharing because I want to...not because I legally had to.
  #12 (permalink)  
Old 05-13-2011, 01:10 PM
Senior Member
 
Join Date: Mar 2011
Posts: 1,656
WorkingDAD is on a distinguished road
Default

Quote:
Originally Posted by SadDad2010 View Post
I agree with HammerDad. CS is based on line 150 of your return and lottery wins in Canada are not taxable so only the interest earned should affect CS.
I know if I won, I would make sure my kids were well taken care of...the nice part would be that I would be sharing as a responsible parent...not because I legally had to.
Yep. Complettely agree... Myself is wired in such way that if you do not force me or say that I have to but i feel myself in that way I would give much more that you will get from me by pushing ...

Yeas I am not perfect but who does?
  #13 (permalink)  
Old 05-13-2011, 02:28 PM
Senior Member
 
Join Date: May 2010
Posts: 639
LostFather is on a distinguished road
Default

Quote:
Originally Posted by billm View Post
I don't know why people have to make things so complicated.

CS is based on income, so if you have lottery income, just use that for that year.

If you have interest income in the future, that gets used too for CS income.
One time amount not income...at least that's what my lawyer and judge agreed with from a settlement I recieved. She is not entitled or if you prefer the children. Now any income generated from the settlement or lottery is reported as income...example interest.
  #14 (permalink)  
Old 05-13-2011, 02:40 PM
billm's Avatar
Senior Member
 
Join Date: Sep 2008
Posts: 2,430
billm is on a distinguished road
Default

Quote:
Originally Posted by SadDad2010 View Post
I agree with HammerDad. CS is based on line 150 of your return and lottery wins in Canada are not taxable so only the interest earned should affect CS.
I know if I won, I would make sure my kids were well taken care of...the nice part would be that I would be sharing because I want to...not because I legally had to.
So if your ex won $1 million, you would still want to pay full CS?

Income is income - to say 'well its not on line 150, so I don't have to change CS', is hiding behind a false technicality at best, immoral at its worst.

If your CS is based on income, how can you ignore the income of a lottery - simply because it is not a taxable event for a Canadian lottery - what if the tax laws were different (as they are in the US), and it was taxable income - then you think you should pay?? What is the difference other than it simply it being non taxed income, which in of itself is not a difference from the point of view of determining CS.

Again, if your ex won the lottery, I'm sure you would want CS changed....
  #15 (permalink)  
Old 05-13-2011, 02:43 PM
Member
 
Join Date: Oct 2010
Posts: 35
SadDad2010 is on a distinguished road
Default

...then again in Idaho...you better be divorced, not just separated
Lottery winner may have to split it with estranged husband -
  #16 (permalink)  
Old 05-13-2011, 02:44 PM
Senior Member
 
Join Date: Mar 2011
Posts: 1,656
WorkingDAD is on a distinguished road
Default

Quote:
Originally Posted by billm View Post
So if your ex won $1 million, you would still want to pay full CS?

Income is income - to say 'well its not on line 150, so I don't have to change CS', is hiding behind a false technicality at best, immoral at its worst.

If your CS is based on income, how can you ignore the income of a lottery - simply because it is not a taxable event for a Canadian lottery - what if the tax laws were different (as they are in the US), and it was taxable income - then you think you should pay?? What is the difference other than it simply it being non taxed income, which in of itself is not a difference from the point of view of determining CS.

Again, if your ex won the lottery, I'm sure you would want CS changed....
income of ex has nothing to do with CS (unless you claim undue hardship). only SS

and we are talking about legal ground to change CS base on lottery win not moral side of it.
  #17 (permalink)  
Old 05-13-2011, 02:52 PM
Member
 
Join Date: Oct 2010
Posts: 35
SadDad2010 is on a distinguished road
Default

Quote:
Originally Posted by billm View Post
Income is income - to say 'well its not on line 150, so I don't have to change CS', is hiding behind a false technicality at best, immoral at its worst.
....
Again, if your ex won the lottery, I'm sure you would want CS changed....
But lottery wins are not income...that is the point. I know what you are saying and I certainly wouldn't hide behind it... As I stated, I would make sure my children were taken care of.

Look at it from this view point...my ex can get promoted and earn 1 million a year but the CS I pay won't be reduced, no matter how unfair I may think it is.
  #18 (permalink)  
Old 05-13-2011, 02:55 PM
Senior Member
 
Join Date: May 2010
Posts: 639
LostFather is on a distinguished road
Default

Quote:
Originally Posted by billm View Post
So if your ex won $1 million, you would still want to pay full CS?

Income is income - to say 'well its not on line 150, so I don't have to change CS', is hiding behind a false technicality at best, immoral at its worst.

If your CS is based on income, how can you ignore the income of a lottery - simply because it is not a taxable event for a Canadian lottery - what if the tax laws were different (as they are in the US), and it was taxable income - then you think you should pay?? What is the difference other than it simply it being non taxed income, which in of itself is not a difference from the point of view of determining CS.

Again, if your ex won the lottery, I'm sure you would want CS changed....
So you both sell your home you pocket 200k from the sale then be would have to pay cs based on the sale of the home??? If all these possibilities are excepted then why not be able to deduct income...income is going directly to ex...before you get it essentially.
  #19 (permalink)  
Old 05-13-2011, 02:56 PM
cashcow4ex's Avatar
Senior Member
 
Join Date: May 2011
Location: Ontario
Posts: 222
cashcow4ex is on a distinguished road
Default

I dont think they could force a raise in CS. Now as for SS I do think they could. They could classify it as a major change in circumstances.

I would set my kids up for sure. However It would be a cold day in hell before my ex got a single penny of it.
  #20 (permalink)  
Old 05-13-2011, 04:46 PM
Senior Member
 
Join Date: May 2010
Location: Hamilton
Posts: 3,717
HammerDad will become famous soon enough
Default

What I am saying is the principle amount is not classified as income and not subject to CS. It is a once in a lifetime scenario, and you cannot use the basis of that amount as grounds for basing income. I mean, you can't really use a 3 year average to determine CS if one of the years you won $15million...because the $15million isn't a sustainable level of income.

What I am saying is any income derived from the lottery winnings is attributable to CS, and an interest rate SHOULD be determined as soon as possible. And the interest rate determined would then be used to imputed to the payors income effective the date of the winfall.
Closed Thread


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



All times are GMT -4. The time now is 07:41 AM.