Seeing how it's tax time in Canada and I'm going through my finances I thought I would bring to light another MGTOW validation. I'm not an accountant and maybe I have this all wrong but the way I see it unless you have joint custody you are completely screwed when it comes to tax deductions. When the inevitable divorce happens you lose every child related tax credit you had even though you, like myself, are still paying 100% of child care costs (technically more - I pay for all her costs plus my own costs such as accommodation, food, clothing and entertainment while they are with me on alternate weekends and Wednesdays). All this is with after tax dollars. It starts with who can claim the kids for tax purposes. Government made this one simple. You can't if you pay child support. This means she can reduce her claimed taxable income by $11,038 or more. This also means the monthly Canada Child Benefit automatically goes to her , the amount she will get is calculated by her household income level which does NOT include your support payments (she gets that tax free because you have already paid the taxes for her).
Child Care expenses - Sorry, you pay for them but only mother can claim them.
Special and Extraordinary Child Care expenses- Sorry, you pay for them but only mother can claim them.
Medical expenses- Sorry, you pay for them but only mother can claim them.
Education expenses - Post secondary tuition is technically deducted from a child's income but due to the fact the child is unlikely to have an income the deduction is transferable to the dependant child's parent. You lose again buddy. This is a sneaky one for ex's. They claim tuition costs that you have paid for and keep the tax refund themselves instead of rolling it back into the child's next year's tuition. Hard to believe but true, just ask my ex.
If anyone can explain to me how this is fair please explain. If you tell me the child support table amounts take this into consideration when setting amounts read this: https://www.fact.on.ca/fin_supp/factcs7.htm
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