Creating confusion: new guidelines that were intended to make the payment of child support simple and predictable are adding layers of complexity to the process
Article Abstract:
Changes that were made on the Divorce and Income Tax Acts are expected to affect child support issues in Canada as well as anyone who is involve with an existing agreement or court order. The Divorce Act amendments include Child Support Guidelines requiring child support to be based on the income of the noncustodial spouse. Income Tax Act amendments, on the other hand, indicate that child support paid after May 1, 1997 will not be deducted to the payer nor taxed to the recipient. Lawyers, accountants and financial advisers are then required to be familiar with the new guidelines.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1997
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New rules for rollovers
Article Abstract:
The governments of Ontario and Quebec, Canada, have created tax legislations that would eliminate the Quebec shuffle, a plan utilized by taxpayers outside Quebec to avoid provincial tax. In Ontario, Bill 164 was created which contain changes to rollover transactions. It also covers the disposition and acquisition of property that are part of a series of transactions or events. Series affected by the bill are those that are began before and are completed after Dec 18, 1996.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1999
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