I have some questions on some Tax issues such as CCTB and the universal childcare benefit etc that are federally regulated for shared custody situations:
1. Can we or will the court approve a 50/50 split for CCTB and Universal Child Care Benefit if we write it in a divorce / custody agreement for a 50/50 shared custody? I think I have definitely seen examples in CanLii. CRA has a month on - month off distribution of CCTB and UCCB if kids live in two homes.
2. In 50/50 shared custody, can a couple also write in the judgment that they should claim the child as dependent in alternatively years (such as odd years by Mom, even-numbered Tax years by Dad)? Often times because of income difference one party has to pay the other CS, but CRA wouldn't allow the Dad to claim the child as dependent if Mom doesn't agree. We know technically actually both parents pay each other CS in shared custody, one party pays the other only because their salaries are not equal.
3. If Mom in certain years claim the child as dependent, but Dad still has a 3~4K childcare expense for childcare, how will this be handled when filing a tax return? I think this might have been discussed before, but I couldn't find that post. I think if one parent pays for Childcare, s/he should be allowed to claim that expense regardless of who claims the child as dependent.
Anyone has any experience?
1. Can we or will the court approve a 50/50 split for CCTB and Universal Child Care Benefit if we write it in a divorce / custody agreement for a 50/50 shared custody? I think I have definitely seen examples in CanLii. CRA has a month on - month off distribution of CCTB and UCCB if kids live in two homes.
2. In 50/50 shared custody, can a couple also write in the judgment that they should claim the child as dependent in alternatively years (such as odd years by Mom, even-numbered Tax years by Dad)? Often times because of income difference one party has to pay the other CS, but CRA wouldn't allow the Dad to claim the child as dependent if Mom doesn't agree. We know technically actually both parents pay each other CS in shared custody, one party pays the other only because their salaries are not equal.
3. If Mom in certain years claim the child as dependent, but Dad still has a 3~4K childcare expense for childcare, how will this be handled when filing a tax return? I think this might have been discussed before, but I couldn't find that post. I think if one parent pays for Childcare, s/he should be allowed to claim that expense regardless of who claims the child as dependent.
Anyone has any experience?
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