Income tax question

[Blane]

I remember some people offering income tax service on here (LJFH?) so I thought I'd ask and see if anyone can answer this...

I've got a lot of unused tax credits (tuition and RRSP) that I have been carrying over year after year. My girlfriend, on the other hand is bracing for a slaying at the hands of the taxman this year. She could really use some of my credits.

What would it take for me to transfer them to her? Would we have to submit jointly as "common law spouses". We've lived together long enough and all that, but it's a bit of a pain in the ass since we're 1/2 a world apart right now. We live in Quebec, if that makes a difference.

Any idea?

Thanks!

[FOWL]

Tell her not to pay it. 92% of that money goes directly into the hands of private bankers for illegally issuing our currency. A decent chunk of the other 8% goes to the mass murder and irradiation of Afghanistan. Our criminal government has robbed us far too much already.

[AD]

yeah Blane, tell your girlfriend to stop irradiating Afghanistan already!

[Booche]

Blane the answer is simple. Either sneak into the US as illegal aliens while figuring something out, or pm LJFH (she's the bomb at this shit...I dont trust anyone but her) OR you can look like this for the rest of your life:

[Blane]

THanks for all the insightful answers folks.

I might try a combination of these approaches and hope one of them pans out.

And Booche, it's not that I want to end up like that guy; it's that I don't want to end up like this guy:

[image]http://i6.photobucket.com/albums/y204/embassyinternational/bouche.jpg[/image]

Edited March 4, 2008 by Guest

[FairySari]

...

[phishtaper]

no insight here either, but i'd like to inject a brief musical interlude ...

Let me tell you how it will be

There's one for you, nineteen for me

Cos I'm the taxman, yeah, I'm the taxman

[Gateaux]

I can't say i agree about the common law thing and "having" to file that way. We've been common law for a few years now and we both still file as single.

Maybe "supposed" to but I know alot of common law couples that file as singles.

Edited March 4, 2008 by Guest

[AD]

maybe it's different as Blane and girlfriend live in Quebec? (i don't know, just throwing it out there.)

[phishtaper]

Gateaux, your avatar always makes me laugh!

[LJFH]

Check your PM's Blane.

[Blane]

pm returned. THanks!

[Big Wooly Mammoth]

I can't say i agree about the common law thing and "having" to file that way. We've been common law for a few years now and we both still file as single.

Maybe "supposed" to but I know alot of common law couples that file as singles.

In Canada you cannot file a joint return. You have to file seperate/single returns. You can list a spouse (I assume the def'n includes both legal and common law) as a dependant.

I am not an accountant, nor do I play one on TV, so I may be totally wrong. But, I think that what I said is correct.

In the U.S. you can file a joint return.

[Blane]

no, you can file a joint return, but it's optional. At least according to my tax software.

[Big Wooly Mammoth]

no, you can file a joint return, but it's optional. At least according to my tax software.

according to my accountant you can't! I lived in the U.S. for a few years and filed joint returns. I asked my accountant to do that for me here and he told me that it wasn't an option. I basically leave it up to him to figure out what is best for us. (you can't split your income here, which I assume is what you'd be doing on a joint return.)

we need to get some accountants here.

[phishtaper]

we need to get some accountants here.

hmmmmmm, wont that dramatically lower the average cool quotient?

[Hux]

By joint return he means two people filing on one form, not income splitting.

[Blane]

To prepare optimized tax returns for you and your spouse together, select Complete information below. Once you have finished your own interview, click Add family member (near the top left of the screen), select Add a spouse, and complete the spouse's interview.

If you do not need a tax return for your spouse, or wish to prepare your tax returns separately, select Net income only. A new page titled Spouse - basic information will be added to the QuikClik Navigator where you can enter your spouse's identification and basic tax information.

If you select Net income only, you will enter your spouse's basic information in your interview. You can claim amounts transferred to you by your spouse with either selection.

Important note: You must select Complete information if you wish to:

- split eligible pension income with your spouse (line 116), or;

- claim the working income tax benefit for lower income families (line 453).

From my tax software. Maybe I'm misinterpreting but it seems you can file as a "family", or file seperately.

[timouse]

we need to get some accountants here.

hmmmmmm' date=' wont that dramatically lower the average cool quotient? [/quote']

what is this "cool" that you speak of?

[d_rawk]

what is this "cool" that you speak of?

Good point!

LJFH, can you clear up the common-law thing? I always have trouble with that idea .. that if I share a space with someone and also happen to fuck them from time to time, that it sets some sort of legal precedent. What if I have multiple partners? I do, though, appreciate that the state is willing to extend the benefits of marriage to those not legally married. At what stage does one get to opt in or opt out (in the context of taxation)?

[AD]

I do, though, appreciate that the state is willing to extend the benefits of marriage to those not legally married.

it's not the same... there are many many differences. like when you separate, there are no rights for either person relating to custody, support, division of assets, etc... just a few examples of many.

[allison]

I always have trouble with that idea .. that if I share a space with someone and also happen to fuÇk them from time to time, that it sets some sort of legal precedent

Ya know...I have to say I have a general love for the things you write on this board...particularly when discussing the spiritual...but this is by far the best sentence ever.

[Blane]

Again from my tax software:

A common-law partner is a person of the opposite or same sex to whom you are not legally married, but with whom you live as a couple. That person can be described:

-as the natural or adoptive parent of your child;

-as having been living and having a relationship with you for at least 12 continuous months; or

-as having lived with you as your spouse or common-law partner for at least 12 continuous months.

Tax benefits derived from living as common-law partners include the ability to pool expenses such as medicals and charitable donations, and to contribute to spousal RRSP's.

Although 2001 was the first year that common-law and same-sex couples were extended these rights for tax purposes, you may elect to have returns for years 1998 to 2000 re-assessed federally on this basis (years 1999 and 2000 in Quebec).

Doesn't even look like you have to fuck them, maybe just take them out for dinner from time to time.

[larry_llama]

you need to be her employee. then she pays you, thats an expense, you get more income, and you can use your tuition credit against that. now hopefully you each thought ahead before and started some sort of business in case of this happening.