Tax and spousal support is often overlooked when couples separate. This is important, as it is one of the few areas where a family can benefit from a tax reduction. Who doesn’t want to pay fewer taxes? Generally speaking, spousal support is tax-deductible for the payor and taxable for the…
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…
There are free services available to help families in many aspects of family law. These services help to compliment those that a Lawyer or Mediator can provide. The following are what we, at Butterfield Law, believe are the most useful free services for families: 1.LEGAL AID: Can’t afford a lawyer…