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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 01-12-2018, 06:33 PM
oldblueeyes oldblueeyes is offline
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Default Does a one-time jump in annual income affect CS?

So it's been a great 5+ years since I was separated/divorced. Luckily I wasn't stupid enough to import a wife (whether foreign or domestic, giving a woman so much power over my life by marrying her is a huge mistake...I was lucky to get out relatively cheaply once...I won't be taking another chance!!). Instead, I focused on my business and it's quite successful now.

I haven't contributed to my RRSPs in years, so my current contribution limit is around $80,000. I've kept my salary at around $60,000 since before I was divorced and I intend to keep it that way for the foreseeable future. My question is, if I give myself an $80,000 dividend this year, would that $80,000 one-time bump affect my CS and expense ratio permanently? If so, I won't bother giving myself the dividend and I'll just let it sit in the corporation.

And yes, I'm a CONFIRMED BACHELOR FOREVER! MGTOW! NEVER AGAIN! I'm too old to risk my financial security by marrying again. Odds are a man will end up alone in old age, so it's better to be alone and wealthy than alone and financially destroyed by divorce! Greed is good!
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Old 01-12-2018, 09:14 PM
piggybanktoex piggybanktoex is offline
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Leave it buried in the corporation and use money to help kids directly when needed.

Also agree, marriage once was enough.
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Old 01-13-2018, 02:11 PM
Links17 Links17 is offline
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Or move to Quebec and get a vasectomy and just don't sign the civil marriage document
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Old 01-15-2018, 01:52 PM
HammerDad HammerDad is offline
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The short answer is, yes the dividend would likely be considered income for the purpose of c/s. It would come down to you arguing that it is a one time thing, a windfall, and there is no pattern. She would argue that it shows up on your line 150 and was derived from your income. She would likely then ask you to open your corporate financials to see what retained earning you're leaving in the company each year. Then the judge would decide from there.

IMO, leave it in the company, reinvest it. I wouldn't pull it unless I had to.
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