Hi All,
I'm new here so I apologize in advance if this question is repeated however, after reading so many threads i'm lost.
My STBX and I have had a long 3 year ugly separation, two kids who unfortunately were dragged into this madness. We have been to three long mediation sessions, CC and SC and nothing has been done. We are finally getting somewhere but the finances are killing it
Does anyone have an exhaustive list of how to account for all the tax credits and benefits she is receiving? Our incomes are similar so its 50/50 however this is excluding section 7 expense tax benefits.
From what I understood,
- Children's arts or Fitness tax credit: eligible expense - 15% refundable tax credit => remainder shared 50/50
- Daycare expenses and eligible medical expenses reduced by the Marginal tax rate in Ontario which is 20.05%???? Then the remainder is shared 50/50?
- Eligible dependent tax credit, where do we account for that?
Any help to get this in writing would be great. Also, does anyone have an extremely exhaustive list as to what support payments cover? I was in school when separated, income imputed to the max, paying CS according to the unfair income but STBX is throwing all these ridiculous expenses my way and I really can't afford it.
Thank you,
Daddy of 2 little guys
I'm new here so I apologize in advance if this question is repeated however, after reading so many threads i'm lost.
My STBX and I have had a long 3 year ugly separation, two kids who unfortunately were dragged into this madness. We have been to three long mediation sessions, CC and SC and nothing has been done. We are finally getting somewhere but the finances are killing it
Does anyone have an exhaustive list of how to account for all the tax credits and benefits she is receiving? Our incomes are similar so its 50/50 however this is excluding section 7 expense tax benefits.
From what I understood,
- Children's arts or Fitness tax credit: eligible expense - 15% refundable tax credit => remainder shared 50/50
- Daycare expenses and eligible medical expenses reduced by the Marginal tax rate in Ontario which is 20.05%???? Then the remainder is shared 50/50?
- Eligible dependent tax credit, where do we account for that?
Any help to get this in writing would be great. Also, does anyone have an extremely exhaustive list as to what support payments cover? I was in school when separated, income imputed to the max, paying CS according to the unfair income but STBX is throwing all these ridiculous expenses my way and I really can't afford it.
Thank you,
Daddy of 2 little guys
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