Not sure if anyone has had this situation: While studying both our financial documents, I found the following:
Her company paid DB pension contributions are non-taxable and therefore not included as income on her tax returns (about $9,500/year).
My company does not have a pension plan. Instead, they offer an RRSP match program. I also receive about $9,500/year in the match program but it is treated as taxable income and adds to my line 150.
So.. for the purposes of calculating set-off child support amounts, I am penalized for contributing to my retirement in the form of an RRSP while she gets to enjoy her retirement being paid for tax-free.
I feel that either I should be able to exclude the RRSP match OR she should have her pension contributions inputted as income.
Any thoughts would be appreciated.
Her company paid DB pension contributions are non-taxable and therefore not included as income on her tax returns (about $9,500/year).
My company does not have a pension plan. Instead, they offer an RRSP match program. I also receive about $9,500/year in the match program but it is treated as taxable income and adds to my line 150.
So.. for the purposes of calculating set-off child support amounts, I am penalized for contributing to my retirement in the form of an RRSP while she gets to enjoy her retirement being paid for tax-free.
I feel that either I should be able to exclude the RRSP match OR she should have her pension contributions inputted as income.
Any thoughts would be appreciated.
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