Catherine Hyde, Paralegal

It’s tax time and hopefully you have filed your tax return.  You obtained copies of your T4s, T5s, receipts for medical or children’s expenses, business or rental income information. You provided these to your accountant or perhaps prepared your own tax return, and once done, received the Notice of Assessment confirming that

Barrie M. Hayes, Partner, Family Law

The Income Tax Act recognizes spousal support payments as a tax-deductible expenditure.

The Act recognizes both married and common- law spousal support payments as tax-deductible. In order to qualify as a tax-deductible expenditure the spousal support order needs to;

1. Be embodied in a court order or written

The RESP can be invested in government and corporate bonds, GICS and stocks and in mutual funds.

The RESP contributions are supplemented by the Canada Savings Education Grant, which is a federal program that deposits up to $500.00 per year directly into the RESP.

Although the RESP contributions are not tax deductible the tax payable