Sentences with phrase «common law spouses in»

These rules do not apply to common law spouses in Alberta, although in BC common law...... Read Full Post

Not exact matches

For 2011 and subsequent years, the budget proposes a new non-refundable tax credit based on eligible expenses paid for the cost of registration or membership of your or your spouse's or common - law partner's child in a prescribed program of artistic, cultural, recreational or developmental activity (eligible program).

Variations among states in the degree to which they define through statute or common law the legal relationships of spouses and sperm donors to children conceived using assisted reproductive technology compound the insecurities confronting New York lesbian parents contemplating travel or potential relocation to other jurisdictions.

The discrepancy between community property and common law became even more pronounced at higher income levels, in particular when there was a large difference in income between spouses.

In order to be considered married, you and your spouse must be living together as husband and wife, living together in a common law marriage recognized by your state, married and living apart but not legally separated, or married but separated under a divorce decree which is not final on the last day of the tax yeaIn order to be considered married, you and your spouse must be living together as husband and wife, living together in a common law marriage recognized by your state, married and living apart but not legally separated, or married but separated under a divorce decree which is not final on the last day of the tax yeain a common law marriage recognized by your state, married and living apart but not legally separated, or married but separated under a divorce decree which is not final on the last day of the tax year.

You are considered legally married by the Internal Revenue Service only if you meet one of the following criteria: you and your spouse have been living as husband and wife for the last year; you and your spouse are in a common - law marriage that is recognized by your current state or the state of origin of the marriage; or you are married and living separately, but not legally separated or you are legally separated by interlocutory decree that is not final.

For spousal support, a separated common - law spouse will have the same claim as a married spouse, in every province, except Quebec.

Eligible Dependent Credit In order to qualify for this amount, you must be the sole supporter of a dependent who was living with you in 2014 — meaning you do not have a spouse or common - law partner or you were not living with or being supported by a spouse or common - law partneIn order to qualify for this amount, you must be the sole supporter of a dependent who was living with you in 2014 — meaning you do not have a spouse or common - law partner or you were not living with or being supported by a spouse or common - law partnein 2014 — meaning you do not have a spouse or common - law partner or you were not living with or being supported by a spouse or common - law partner.

Previously, filers could claim the fees for fitness and arts programs — up to $ 500 and $ 250, respectively, in 2016 — for a child of the taxpayer, spouse or common law partner.

Pension income splitting was introduced in 2007 to allow you to move up to 50 % of your eligible pension income to your spouse or common law partner's tax return if you received pension income eligible for the pension income amount.

If you lose a spouse at 25 the Allowance for the Survivor won't kick in until 60, and then only if income is low enough, they're not remarried or living common law.

If your spouse or common - law partner is in a lower tax bracket than you, shifting this income to his or her hands helps lower the total family tax bill.

For example, suppose you're entitled to $ 10,000 in annual CPP benefits, but your spouse or common - law partner is entitled to only $ 4,000.

The language was made au courant in 2001 when the CRA added in «common - law partner,» in addition to «spouse.»

«When you separate as common - law spouses or when a death occurs, sorting out rights and obligations can be like playing a game of Twister — only much more expensive,» says Michael Cochrane, a family lawyer in Toronto and author of Surviving Your Divorce.

Your «principal residence» is generally any residential property owned and occupied by you or your spouse or common - law partner, your former spouse or common - law partner or your child at any time in the year.

In this case, any capital gain or loss is deferred until the property is disposed of by the spouse or common - law partner or the spousal trust.

In general, you're affiliated with yourself and your spouse or common - law partner and with a corporation that you control, or you and your spouse or common - law partner control — but not with your children.

A home can be designated as your principal residence for each year in which you, your spouse or common - law partner and / or your children were residents in Canada and ordinarily lived in it for some time during the particular year.

(ii) to the extent that the spouse or common - law partner does not, at the time of the contribution of the property under the TFSA, have an excess TFSA amount (as defined in subsection 207.01 (1)-RRB-.»

«Not only will your assets not go where you want them — for example, a common - law or same - sex spouse might not be recognized in most provinces — but they're not going in the most tax efficient way,» says Cardy.

A: There is a four - year rule that would allow you to be considered a first - time home buyer again in 2017, as long as you haven't occupied a home that you or your current spouse or common - law partner owned in between 2012 to 2016.

On that basis, your wife's spousal RRSP withdrawal could cost you from 20 % to over 50 % tax, Jeff, whether indirectly due to a reduction in your spouse or common law partner amount tax credit or directly due to spousal RRSP income attribution.

But for disabled adults unable to enter into a contract, a qualifying family member — including a spouse, common - law partner or parent — can become the «plan holder» who is in charge of setting up and managing the RDSP.

According to the CRA, a buyer is disqualified from claiming these credits if they've already owned a home or they lived in a home owned by their spouse or common - law partner now or in the last five years.

The signatures on this form must be witnessed by someone other than the applicant, co-applicant, spouse or common - law partner of any of these persons or in Ontario the applicant's child or a person who treats the applicant as his or her child.

In reality, spousal debt in the United States depends on the type of state you live in, namely, whether it is a community property state or common law state.4 In a community property state, you are not responsible for any debt your spouse incurred before marriage, but are jointly responsible for debt incurred by either of you going forwarIn reality, spousal debt in the United States depends on the type of state you live in, namely, whether it is a community property state or common law state.4 In a community property state, you are not responsible for any debt your spouse incurred before marriage, but are jointly responsible for debt incurred by either of you going forwarin the United States depends on the type of state you live in, namely, whether it is a community property state or common law state.4 In a community property state, you are not responsible for any debt your spouse incurred before marriage, but are jointly responsible for debt incurred by either of you going forwarin, namely, whether it is a community property state or common law state.4 In a community property state, you are not responsible for any debt your spouse incurred before marriage, but are jointly responsible for debt incurred by either of you going forwarIn a community property state, you are not responsible for any debt your spouse incurred before marriage, but are jointly responsible for debt incurred by either of you going forward.

All capital properties, such as shares in companies and real estate, are automatically transferred between spouses or common - law partners on a tax - free basis.

Setting up a spousal RRSP is a good idea if you expect your spouse or common - law partner to be in a lower tax bracket than you on retirement.

If you or your spouse or common - law partner carry on a business as a sole proprietor or in a partnership (other than as a member of a limited partnership) during the year, you both have until June 15 of the following year to file your returns.

When funds are withdrawn from the spousal RRSP, they are taxed in your spouse's or common - law partner's hands at his or her lower tax rate (this arrangement is subject to special rules to prevent abuse).

If all of these conditions have been met, any subsequent capital gain or loss realized on a sale to a third party can be taxed in your spouse or common - law partner's hands (rather than in your hands).

Tax Return Filing Deadline for Self - Employed Persons: If you or your spouse or common - law partner carried on a business in 2011 (other than a business whose expenditures are primarily in connection with a tax shelter), your return for 2011 has to be filed on or before June 15, 2012.

It is important to keep in mind that when you open a joint account with your spouse, you are accepting responsibility for that debt whether you live in a common law or community property state.

Tax - free RRSP withdrawals can also be made to assist you in financing full - time training or education for you or your spouse or common - law partner.

On the other hand, in a common law state, you are not responsible for your spouse's debt before marriage, and you can typically avoid responsibility for your spouse's debt after marriage as well.

To qualify, you or your spouse or common - law partner must be enrolled or committed to enrol as a full - time student in a qualifying education program of at least three months» duration at a designated educational institution.

Want to make the most of your savings in retirement with your married or common - law spouse?

The money in the TFSA can still be willed to a spouse or common - law partner, but probate fees will be applied and the money will no longer be tax - sheltered.

Turning to your property, indeed it would be tax exempt if you ordinarily inhabited it in each year of ownership and did not live with your boyfriend in either his residence or the jointly owned property as a common law spouse.

Common law spouses must be included in estate plans and wills.

In the case of your spouse or common - law partner, you can still make contributions to a spousal RRSP in their name until the year they turn 71, regardless of your agIn the case of your spouse or common - law partner, you can still make contributions to a spousal RRSP in their name until the year they turn 71, regardless of your agin their name until the year they turn 71, regardless of your age.

Federal bankruptcy laws, even in a common law property state, generally states that if only one spouse files for a Chapter 7 bankruptcy, only that spouse's debts will be discharged.

The following persons are presumed to have an insurable interest in you: a former spouse, blood relatives or adopted relatives who are closer than first cousins, and a person with whom you are living in a relationship that would constitute a common - law marriage in those jurisdictions that recognize common - law marriages.

Of all the stepfamilies identified, 271,930 were considered simple stepfamilies, in which all children are the biological or adopted children of only one married spouse or common - law partner in the couple and whose birth or adoption preceded the current relationship.

In the rest, referred to as common law states, courts must determine an equitable distribution of the spouses» property between them.

If you transfer or gift funds to your spouse or common law partner, any interest, dividends or capital gains earned on those funds will continue to be taxed in your hands.

Simplified, such conditions require that no corporation be a beneficiary of the trust and the trust must designate in prescribed form each individual — a «specified beneficiary» — who is a beneficiary of the trust and ordinarily inhabited the property (or the beneficiary's spouse or common - law partner or child ordinarily inhabited the property).

You are a first time home buyer if, in the four year period, you did not live in a home that you or your current spouse or common - law partner owned.

While the couple is together, withdrawals from spousal or common - law partner RRSPs made by the annuitant are reportable by contributing spouses if RRSP contributions have been made in the current or previous two years.