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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 04-16-2011, 02:30 PM
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Default Exchanging Income Tax Returns...

When exchanging income tax returns, are the "parties" supposed to include copies of all their back-up documents? My ex does supply a copy of the ITR, but no T4's etc.
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Old 04-16-2011, 07:56 PM
Grauwulf Grauwulf is offline
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I wouldn't think that it would be required, just your notice of assessment should be enough provided that neither party is cheating on their taxes. I'm sure someone more knowledgable and experienced will chime in though.
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Old 04-16-2011, 07:56 PM
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Supporting documents are not necessary. You should exchange Notice of Assessments as well, and that will support/prove the tax return as filed.
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Old 04-16-2011, 09:17 PM
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If you have children, the calculation of Section 7 expenses requires that sources of income like the CCTB be included. A notice of assessment is not sufficient to disclose all income, the CCTB isn't included in line 150. Further, if a party is self-employed the other party should have the opportunity to review gross receipts and claimed expenses, not just a final figure.
Quote:
Income Information
Obligation of applicant
21. (1) A parent or spouse who is applying for an order for the support of a child and whose income information is necessary to determine the amount of the order must include with the application,
(a) a copy of every personal income tax return filed by the parent or spouse including any materials that were filed with the return for each of the three most recent taxation years;
(b) a copy of every notice of assessment and reassessment issued to the parent or spouse for each of the three most recent taxation years;
(c) where the parent or spouse is an employee, the most recent statement of earnings indicating the total earnings paid in the year to date, including overtime, or, where such a statement is not provided by the employer, a letter from the parent’s or spouse’s employer setting out that information including the parent’s or spouse’s rate of annual salary or remuneration;
(d) where the parent or spouse is self-employed, for the three most recent taxation years,
(i) the financial statements of the parent’s or spouse’s business or professional practice, other than a partnership, and
(ii) a statement showing a breakdown of all salaries, wages, management fees or other payments or benefits paid to, or on behalf of, persons or corporations with whom the parent or spouse does not deal at arm’s length;
(e) where the parent or spouse is a partner in a partnership, confirmation of the parent’s or spouse’s income and draw from, and capital in, the partnership for its three most recent taxation years;
(f) where the parent or spouse controls a corporation, for its three most recent taxation years,
(i) the financial statements of the corporation and its subsidiaries, and
(ii) a statement showing a breakdown of all salaries, wages, management fees or other payments or benefits paid to, or on behalf of, persons or corporations with whom the corporation, and every related corporation, does not deal at arm’s length;
(g) where the parent or spouse is a beneficiary under a trust, a copy of the trust settlement agreement and copies of the trust’s three most recent financial statements; and
(h) in addition to any information that must be included under clauses (c) to (g), where the parent or spouse receives income from employment insurance, social assistance, a pension, workers compensation, disability payments or any other source, the most recent statement of income indicating the total amount of income from the applicable source during the current year or, if such a statement is not provided, a letter from the appropriate authority stating the required information. O. Reg. 391/97, s. 21 (1); O. Reg. 446/01, s. 7; O. Reg. 25/10, s. 5.
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Old 04-17-2011, 02:01 PM
Simplicity Simplicity is offline
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Default Thanks - and what is the legislation?

Dear Mess: Thanks for the information re obligations to disclose income. Could you now kindly tell us what is the legislation that you are presenting?
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Old 04-17-2011, 05:04 PM
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Ah, okay. So I think my ex wants his cake and eat it to!
He insists I supply all back-up to my income tax return, yet he refuses to do the same. We exchange Assessments (and re-assessments, when required). He claims to be self-employed yet refuses to supply business reports.
Ah well -- If he wants all my back-up (which is more than required?), then he has to supply all his back-up!
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Old 04-17-2011, 05:42 PM
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Can you withhold sending your assessment if you know your ex will not supply theirs? How do you handle the exchange? Chances are they might ask to see mine but not produce theirs...... Also agreement doesn't specify the actual time to do such.
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Old 04-18-2011, 09:07 AM
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Withholding your ITR and Assessment from your ex with the belief that your ex won't supply theirs, wouldn't be advisable. If you have an agreement/court order. follow it regardless of what your ex might or might not do. Then nobody can turn around and accuse you of not honouring the agreement/court order.
When we (and I use that generously, mostly me) used the "Children's Journal" I enclosed my copies in a sealed manilla envelope. Now we scan and email. The court order says on or by June 30 (because self-employed tax deadline is June 30 instead of April), but ex had it done early this year (for the first time). I'm still not sure if he's truly self-employed or not.
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Old 08-17-2011, 01:46 PM
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Default what do you do if they with hold their assessment and they are the payor?

Quote:
Originally Posted by Epona View Post
Withholding your ITR and Assessment from your ex with the belief that your ex won't supply theirs, wouldn't be advisable. If you have an agreement/court order. follow it regardless of what your ex might or might not do. Then nobody can turn around and accuse you of not honouring the agreement/court order.
When we (and I use that generously, mostly me) used the "Children's Journal" I enclosed my copies in a sealed manilla envelope. Now we scan and email. The court order says on or by June 30 (because self-employed tax deadline is June 30 instead of April), but ex had it done early this year (for the first time). I'm still not sure if he's truly self-employed or not.
I have a seperation agreement which it states we are to exchange our notice of assessments no later then June 1st.
I have sole custody and am the receiptant of child support and on June 1st he received my copy of my NOA hand delivered from myself to him upon pick of the kids for his access. . .it is now August and I have reminded him continually that I am to receive this and he keeps giving excuses. My question is what do I do about this? I believe he has made more then what he is willing to disclose and doesn't want to pay any more in child support. Is this a contempt of court issue? or is this something entirely different to go along with all of the other things I am having to fight over with him that are included in our seperation agreement. What direction do I go with this? Thank you. . .
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Old 09-02-2011, 09:21 AM
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I have had a final order for over 5 years now and not once (even though ordered) has the ex ever given me his NOA although I have asked every year and several times every years. I am at a point now where I will be register mailing a letter for hi to comply and then he has thirty days or I will file a contempt issue with the courts against him. Im not sure why it comes down to this with him every time. I informe him that our child needs wisdom teeth extraction and will cost 1900$, he has dental coverage (100%) however is refusing to pay for it up front. I just dont understand what it wll take to get him to step up to the plate and be a father.
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