tax on lump sum spousal?

[gumby]

Hi there
Quick question: If one receives a lump sum spousal support payment, is it treated as taxable income in that year?

[dadtotheend]

No, payments have to be periodic to be taxable.

[gumby]

Thanks dad to the end. (BTW I did try searching for this and couldn't find a clear answer - plus kids were here and couldn't sift thru all the posts). I am trying to figure out if we should do everything as lump sum payments from the equity in the house and get it over with. By the same token, I guess the child support as lump sum has no tax effect?
My lawyer is advising me to take a lump sum for "section 7" I don't know why she doesn't want to just call it "child support". I hate asking her these questions because I get charged for every email and sometimes I think lawyers aren't doing the math on the taxes - some things aren't worth fighting over after you crunch the numbers.

[asnf]

I think it can be claimed - see some info at the revenue website re: lump-sum support. I could be wrong but it won't hurt calling the revenue office to confirm - Line 156 and 128 - Support payments received

[dinkyface]

The child support has no income tax consequences, lump sum or not.

For spousal, there are a FEW specific exceptions where a lumpsum would be taxable. e.g. an arrears catchup payment is one, I think. See the CRA website for more details.