Recalculating support

V

Veryconfused

New member
Hello,
In determining child support is this based on T4 OR on total income line 15000 of income tax.

I have a side business as well part time and this year I lost money.

If she gets a bonus or profit sharing, is that included? If so I would know?
 
Recalculating support

If you own your own business you would have reported self employment income in addition to T4 income if you also worked. There is a separate form for that income amount from self employment.

When it comes to child support most judges do not allow as many expenses to be claimed as CRA does. Depending on your business you should review cases similar to your business on canlii.org. For instance, there are a number of cases involving truck drivers who claim all their expenses and report a net income of 10-15 grand per year. Several cases had these expenses disregarded and the income bumped back up to around 80.

Your best bet would be to review self employment income and expenses for child support as a search on canlii. See what expenses were not permitted in cases and adjust accordingly.

Bottom line is you can’t underreport income for child support purposes.

Edited to add: if you are in a “you pay full table support” situation any extra money she earns is irrelevant. If you have offset then she should be providing you with details on profit charing or bonuses. They are normally reported as income. You would ask for her full tax package to determine that.
 
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