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
 
Thread Tools
  #1  
Old 01-12-2018, 06:33 PM
oldblueeyes oldblueeyes is offline
Junior Member
 
Join Date: Apr 2014
Posts: 17
oldblueeyes is on a distinguished road
Default Does a one-time jump in annual income affect CS?

So it's been a great 5+ years since I was separated/divorced. Luckily I wasn't stupid enough to import a wife (whether foreign or domestic, giving a woman so much power over my life by marrying her is a huge mistake...I was lucky to get out relatively cheaply once...I won't be taking another chance!!). Instead, I focused on my business and it's quite successful now.

I haven't contributed to my RRSPs in years, so my current contribution limit is around $80,000. I've kept my salary at around $60,000 since before I was divorced and I intend to keep it that way for the foreseeable future. My question is, if I give myself an $80,000 dividend this year, would that $80,000 one-time bump affect my CS and expense ratio permanently? If so, I won't bother giving myself the dividend and I'll just let it sit in the corporation.

And yes, I'm a CONFIRMED BACHELOR FOREVER! MGTOW! NEVER AGAIN! I'm too old to risk my financial security by marrying again. Odds are a man will end up alone in old age, so it's better to be alone and wealthy than alone and financially destroyed by divorce! Greed is good!
Reply With Quote
  #2  
Old 01-12-2018, 09:14 PM
piggybanktoex piggybanktoex is offline
Senior Member
 
Join Date: Apr 2010
Posts: 226
piggybanktoex is on a distinguished road
Default

Leave it buried in the corporation and use money to help kids directly when needed.

Also agree, marriage once was enough.
Reply With Quote
  #3  
Old 01-13-2018, 02:11 PM
Links17 Links17 is offline
Hand of Justice
 
Join Date: Jan 2013
Location: In the Shadows
Posts: 3,155
Links17 is on a distinguished road
Default

Or move to Quebec and get a vasectomy and just don't sign the civil marriage document
Reply With Quote
  #4  
Old 01-15-2018, 01:52 PM
HammerDad HammerDad is offline
Senior Member
 
Join Date: May 2010
Location: Hamilton
Posts: 3,732
HammerDad will become famous soon enough
Default

The short answer is, yes the dividend would likely be considered income for the purpose of c/s. It would come down to you arguing that it is a one time thing, a windfall, and there is no pattern. She would argue that it shows up on your line 150 and was derived from your income. She would likely then ask you to open your corporate financials to see what retained earning you're leaving in the company each year. Then the judge would decide from there.

IMO, leave it in the company, reinvest it. I wouldn't pull it unless I had to.
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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Self employed blueman2017 Financial Issues 28 05-10-2016 08:48 PM
Time Sharing Adjustment WorkingDAD Parenting Issues 2 03-01-2012 12:37 AM
line 150 income average used for support and one time RRSP withdrawals ddol1 Financial Issues 3 10-14-2011 12:32 AM
Imputing income and Part Time globalpilot76 Divorce & Family Law 1 08-15-2011 09:01 PM
Impact of Stocks on Child Support peter8688 Divorce & Family Law 4 01-04-2006 07:51 PM


All times are GMT -4. The time now is 11:00 AM.