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Income Determination for Child and Spousal Support Purposes

  • Accountant
  • CPA (CA)
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Did you know that some allowable deductions to a payor’s income under the Income Tax Act, RSC 1985 c. 1 (5th Supp.) can be added back and grossed up when determining a payor’s income for child support?

If you didn’t, you’re not alone.

It is a common misconception that the income as reported on a payor’s tax return is always the income that is used to calculate the amount of child and/or spousal support (aka alimony or maintenance) payable. Rather, there is a whole set of rules used by lawyers and the Courts across Canada, some of which do not align with the provisions in the Income Tax Act.

We review topics like capital gains, dividends, bonuses, allowances, RRSP withdrawals, and termination packages, the approach to income determination concerning corporate pre-tax income, and when income may be imputed. 

Having a deeper understanding of what may be considered income and how much income may be treated in family law whether the payor is employed, self-employed, a partner, a beneficiary, or a shareholder, etc. can enhance the value of the services you provide as a financial professional.

This online CPD course will attempt to explain Income Determination for Child and Spousal Support Purposes in Canada.

Learning Objectives

  • To review and discuss the income determination provisions in the Child Support Guidelines, including information used to calculate retroactive support.
  • To discuss treatment of capital gains, dividends, carrying charges, etc.
  • To inspect treatment of fluctuations in income.
  • To review the treatment of self-employment income, whether a sole proprietorship or through a corporation.
  • To explain the treatment of tax-exempted income, tax savings on types of income, and different tax rates when imputing income to a payor.
  • To identify key differences in the treatment of income from the Income Tax Act, such as some expenses deducted from income.
  • To analyze how a payor can have a different income for child support vs. spousal support.
  • To review the relevance of Income Valuations/Reports.

Recommended For

  • This Online CPD webinar is designed for Canadian CPAs and tax professionals who want comprehensive understanding respect to the income determination for a child and spousal support purposes in Canada

Who Should Attend?

  • Certified Public Accountant (CPA)
  • Chartered Professional Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CPD Credit of Taxes for Chartered Professional Accountant (CPA Canada)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

Presenter

About Presenter

Elise Visco, B.Sc., J.D

, Jacqueline M. Mills, Certified Specialist in Family Law

Elise Visco has practiced exclusively in the area of family law since her call to the Ontario Bar in 2017. Since 2019, she has practiced as an Associate with Jacqueline M. Mills, a top-ranked and award-winning family law lawyer in Toronto, Canada.  Prior to joining Ms. Mills’ practice, Elise was an associate in the family law group at a mid-sized Toronto law firm.

Elise is passionate about her work and keen to share her knowledge and expertise. She has the privilege of being a recurrent speaker at continuing professional development programs for financial professionals since the beginning of her career.

Elise attended Osgoode Hall Law School where she completed the Osgoode Mediation Intensive specializing in family law. During law school, Elise assisted low-income clients with their family law matters through the Pro Bono Students Canada Family Law Project and spent a summer in Freetown, Sierra Leone working with the Defence for Children International.

Elise also has a Bachelor of Science with a minor in Italian from the University of Guelph. When she is not working, Elise enjoys reading and cycling, though never at the same time.

About Company

Jacqueline M. Mills, Certified Specialist in Family Law

jmlaw.ca

Jacqueline Mills is an award-winning top-ranked family law lawyer known for handling a wide range of family law cases by negotiation, mediation, and if necessary, litigation in all levels of court.

As a certified specialist with over 36 years of experience, Jacqueline is known for her honest opinions and thoughtful advice. Together with her Associate, Elise Visco, Jacqueline assists clients with all the steps of resolving their separation, divorce, or cohabitation agreement or marriage contract. Jacqueline is also a qualified Arbitrator. 

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

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Income Determination for Child and Spousal Support Purposes

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1 Credit

Subject Area

Taxes

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