In an article published in Les Affaires plus, Luc Lacombe, Taxation Partner at Raymond Chabot Grant Thornton, explains that building a shared life with a new spouse when you already have children can be costly.
Cohabitation of spouses increases the family income on which most tax credits and allowances are calculated. Therefore, blended families are subject to the reduction or loss of certain tax relief. One-parent families are the hardest hit. “When two one-parent individuals earning $30,000 a year move in together, the Government benefits more than the couple,” Luc Lacombe points out.
The expert offers several tax tips to families to avoid unpleasant surprises.
To learn more, see the article Familles recomposées: mauvaises surprises fiscales à prévoir ! (Blended families: unpleasant tax surprises to expect!)
15 Jun 2015 | Written by :