Post Separation Changes In Value
[vc_row][vc_column][vc_column_text]February 27, 2009 By Brad Smith When married spouses separate, the property settlement (known as an equalization payment in Ontario) is based upon two dates: the date of separation and date of marriage. If an asset is owned by only one spouse, this normally means the owner spouse has the benefit, or burden, of an increase […]
Landlords And Developers: Do Not Play Monopoly With Real Money
[vc_row][vc_column][vc_column_text]June 2, 2008 By Brian Babcock Developers and landlords must bear their own losses if they fail to secure a binding contract with a proposed tenant before commencing construction or renovations. Because prospective tenants often place a premium on early availability, and because rent usually does not start until the premises are usable, landlords often forge […]
The Children’s Fitness Tax Credit
[vc_row][vc_column][vc_column_text]March 11, 2008 By Brad Smith The Children’s Fitness Tax Credit became effective January 1, 2007. A parent may earn a credit of up to $500 for each child under the age of 16 years. If you use the entire credit, this represents a tax saving of $75.00 per child. An eligible program must be: ongoing […]
The Child Tax Benefit After Separation
[vc_row][vc_column][vc_column_text]February 26, 2008 By Brad Smith There are often changes that arise as a result of separation that may impact the amount of the Child Tax Benefit received. This includes that a child has started to live with you, a change in the family income or shared custody. If your spouse previously received the child tax […]
Deducting Legal Costs For Child And Spousal Support
[vc_row][vc_column][vc_column_text]February 11, 2008 By Brad Smith In certain circumstances a support recipient may be able to claim a deduction for legal costs incurred to pursue or collect child support or spousal support. The legal costs you incurred for the following reasons may be tax deductible: Legal costs incurred to obtain spousal support under the Divorce Act. […]
Support, Costs & Bankruptcy: Can A Payor Declare Bankruptcy To Escape A Costs Award?
[vc_row][vc_column][vc_column_text]February 5, 2008 By Fhara Pottinger Support costs and support are obligations that survive bankruptcy. Support is a hot issue in family law and this is unlikely to change in the near future. Occasionally parties who are ordered to pay support (“payors”) will declare, or be petitioned into, bankruptcy either in an effort to avoid paying […]
Estate Planning For Business: Business Owners & Powers Of Attorney
[vc_row][vc_column][vc_column_text]January 8, 2008 By Fhara Pottinger If you are a business owner and operator, you know that decisions must be made on a daily basis to ensure the smooth and successful operation of your business. That is why, when you go on vacation, you plan for someone to make business decisions in your absence. However, not […]
New Defamation Defence Balances Charter Values
[vc_row][vc_column][vc_column_text]November 27, 2007 By Brian Babcock Ontario’s Court of Appeal recently decided to recognize the English defence of “public interest responsible journalism” in a claim of defamation. The case involved a series of articles in the Ottawa Citizen, which the Plaintiff argued were untrue and defamatory. The paper could not rely upon defences of truth and […]
Protecting Directors And Corporations With Directors & Officers Insurance
[vc_row][vc_column][vc_column_text]October 23, 2007 By Brian Babcock Many of us give back to our communities by serving as directors and officers of non-profit organizations. As with any other organization, officers and directors of non-profit organizations may be sued. There are also statutory liabilities for unpaid wages, withholding taxes, environmental infractions, and other matters. These are all designed […]
Top 10 Reasons To (Re)do Your Will
[vc_row][vc_column][vc_column_text]September 18, 2007 Who will take care of your family, investments or even your pets when you are gone? Who will arrange your funeral or memorial service? Do you want to be buried or cremated? If you do not provide your own answers to these questions, a set of arbitrary government rules will decide for […]