Thread: Asset splitting
View Single Post
Old 09-12-2013, 10:18 AM
billm's Avatar
billm billm is offline
Senior Member
Join Date: Sep 2008
Posts: 2,431
billm is on a distinguished road

Originally Posted by Karver View Post
So if your ex owned some buildings while you were married, you separated and he gave you half the market value of the buildings, would that money be considered your income for CS purposes?
My ex brought up tonight that if he were to borrow money from the other partners in the buildings and pay me out of them would that be good? I said it sounded good to me. Then he said something about it being paid to my company as an income.
I think equalization for divorce is not taxable - though the capital gains may be.

I bought my ex out of our family cottage. I paid a reduced price by guessing at what the capital gains would be at that time if we sold it. If I sell it in the future I assume the capital gains will be from when I purchased it when I was married, so that settled the issue.
Reply With Quote