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My “Shared Custody” Correspondence with the Minister of Finance

The following are copies of my various communications and presentations related to unfair shared custody issues regarding allocation of the Amount for an Eligible Dependant and the Canada Child Benefit, and differing definitions of shared custody within legislation.

January 2017 – My initial effort – I sent a report to the Minister of Finance (and copies to select other MPs and government staff) providing extensive background on the Eligible Dependant Amount issue.  The CCB issue was not apparent at that time.  Click here if you wish to review that report –  Shared Custody and Income Taxes in Canada – Not Fair to All , which includes references and replies from government staff from my earlier submissions (in which they are suggesting that all is okay with the legislation).

October 1, 2018 – I was invited to make a presentation to the Standing Committee on Finance. The mandate of the Standing Committee on Finance is to study and report on all matters relating to the mandate, management and operation of selected federal departments and agencies, including the Department of Finance and the Canada Revenue Agency, and to conduct pre-budget consultations.

This is my written presentation – Standing Committee on Finance presentation 2018 Note that the first part deals with the Eligible Dependant Amount; the second is an unfairness related to survivor benefits from the Canada Pension Plan

This is an audio version (5 minutes) –

January 2019 – My next attempt – Correspondence to the Minister of Finance (and copies to select other MPs and government staff) issued January 2, 2019 asking that the definitions of sharing be identical for the Eligible Dependant Amount and the Canada Child Benefit, and that all credits related to shared children be equally shared by both parents.  I provided extensive calculations in the attached report showing the impact on parents and children. Click here – Copy of letter to Minister of Finance, Jan 2, 2019 re Tax and CCB Issues.

March 21, 2019 – See the response provided by Finance Minister Morneau here – MARCH 21, 2019 RESPONSE LETTER FROM THE MINISTER OF FINANCE).- a further disappointment.

May 2, 2019 – my reply to the Minister  – Reply of 20190502 to Minister Morneau letter of 2019-03-21 for which I followed on the same day with a copy of a parent’s rejection letter based on the 45% threshold – CRA letter stating 45% custody need.

 

Blair Corkum, CPA, CA, R.F.P., CFP, CFDS, CLU, CHS holds his Chartered Professional Accountant, Chartered Accountant, Registered Financial Planner, Chartered Financial Divorce Specialist as well as several other financial planning related designations. Blair offers hourly based fee-only personal financial planning, holds no investment or insurance licenses, and receives no commissions or referral fees. This publication should not be construed as legal or investment advice. It is neither a definitive analysis of the law nor a substitute for professional advice which you should obtain before acting on information in this article. Information may change as a result of legislation or regulations issued after this article was written.©Blair Corkum