Rate of Return Calculator Retirement Planning Calc. Retirment Asset Allocation RRSP Graphing Calculator RRSP Tax Savings Calculator After-Tax Returns Calc. Most people would probably say taxes never help you. Yet, when times are bad, taxes can be an ally. Another difficult time many people experience is a matrimonial break-up.
Many people have a hard time parting with material assets.
However, under the Family Law Act, the spouse whose net worth increased more during the marriage generally has to make a payment to the other spouse to equalize their net family property. A present value factor must also be considered when calculating the contingent tax relating to RRSPs. It should be noted that if spouses cannot agree on the appropriate tax rate and present value factor to apply to RRSPs, they may elect to transfer amounts between their RRSPs directly without triggering any immediate tax consequences. So, next time you complain about taxes, remember they can help you. You can in our Columnist newsgroup.