I have often felt like a social guinea pig. Only with the benefit of hindsight have I been able to see a pattern (one of many) that has emerged throughout my life. I have had many experiences requiring mental toughness far beyond my years, usually before any one of my contemporaries. One such example is …
Read MoreFor some, going through a divorce is the most stressful experience of their lives. At Gelman & Associates, whether your matter is simple or complex, we treat each client as an individual and will work with you and the legal system to make sure your rights are protected and that your needs are met. Separation …
Read MoreAs one of the Toronto family lawyers, I was proud this week: This past week, Toronto was host to WorldPride for the first time, culminating a 34 year tradition of local Pride celebrations. Also this past week, my cousin and his husband became parents and welcomed a healthy and happy 9 pound 7 ounce baby …
Read MoreExercise is considered vital for maintaining mental fitness and reducing stress. Studies have consistently shown that a good workout is effective in reducing fatigue, improving alertness and overall cognitive function. All of which can be advantageous while going through a divorce. Perhaps you have heard: a healthy body, a healthy mind? Well, what happens when …
Read MoreIn years following the year of separation (i.e., where the parties live separate and apart for the entire year), the parent with whom a child lives may claim the AED. Where an AED claim is made, especially for the first time, the tax authorities may well request some documentation to show that the person claiming …
Read MoreGenerally, a person who pays child support is not allowed to claim an eligible dependant amount in respect of that child. However, in the year the parents separate, the parent who pays support has an option. He or she may claim the credit (assuming that no other person is claiming the AED for that child), …
Read MoreFollowing a divorce, a single parent who lives with and supports his or her child may claim what is known as an “amount for an eligible dependant”, or AED, sometimes referred to as the single parent exemption. The rules respecting eligibility for the credit can be confusing and sometimes even arbitrary; it is important to …
Read MoreGenerally, after October 10, 2002, legal fees paid to obtain spousal support or an increase in spousal support amounts, to make child support nontaxable, or to collect late support payments may be deducted by the person who paid the fees. Similarly, legal fees paid to enforce child support orders are deductible. Finally, where a person …
Read MoreMost taxpayers are aware that where monies are taken out of a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF), tax must be paid on those withdrawals. However, our tax system provides for an exception to this rule in the case of a marriage breakdown. Where former spouses are no longer …
Read MoreOur tax system generally imposes tax consequences where property is transferred between persons related to one another (referred to in tax terminology as non-arm’s length parties) for any amount other than the fair market value of that property. However, different rules apply where property transfers take place as a result of marriage breakdown. Generally, there …
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