What To Do with Retirement and Support Payments: Is Voluntary Retirement a Material Change? It is not so easy to just decide to retire, when you have to pay child support and/or spousal support after divorce in BC. It is unwise to unilaterally cancel or reduce support payments. However, retirement…
What qualifies as a support payment, and how it is taxed, are important issues. How support payments are defined affects your income (as defined by CRA), the amount of tax deductions you are allowed, and ultimately how much income tax you pay. Each person’s case is unique, and you should…
Legal fees are tax deductible in family law cases when they result in either child or periodic spousal support. However, only the part of your case that relates to support is tax deductible. For example, if your case involves obtaining a divorce, child custody, and child support, they only cost…
Financial Statements can be intimidating. For most people, this is the first time they have to swear an affidavit. The key thing to remember is to be honest. If you do not know the answer to a question, say so. They other thing to remember is that a Financial Statement…
Negotiation occurs when two parties communicate to resolve a problem. It is based on the principal of “give and take”, and an assumption that both parties have equal decision making capabilities. People negotiate things every day. When you barter the price for something you wish to buy, you are negotiating….
Extraordinary expenses are those costs above and beyond what would normally be covered by child support. They are governed under Section 7 of the Federal Child Support Guidelines. What kinds of things potentially qualify as extraordinary expenses? childcare needed due to the custodial parent’s employment, illness, or education medical premiums,…