Who gets the Canada Child Tax Benefit?
To claim the Canada Child Tax Benefit, you must be the person mainly responsible for the care and upbringing of the child and you must live with the child. If you and your spouse share joint custody, the benefit goes to the childs primary caretaker. In cases where parents share time equally, they can opt to share the benefit. Will I have to pay taxes on payments made as part of a division of property? Generally, the division of property under Canadian family law has no effect on your taxes, and money you receive as an equalization payment is not taxable. However, you may be responsible for future capital gains taxes when you sell property in the future. Can I protect myself against paying more in taxes when I separate? There are several steps you can take to ensure that you dont pay more than necessary in taxes. If your family home is transferred to just one spouse, make sure that its status as a principal residence is maintained. Make sure that you and your ex-spouse take full advanta
