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VIDEO · 30 NOVEMBER 2015

How Do You Calculate The Equalization Payment In A Divorce In Ontario?

Fuller Landau
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The form has 2 parts: the first part of the form itemizes your income and expenses. Disclosure must include three years of personal income tax returns and notices of assessments.

CanadaAccounting and Audit
Ohran Gobrin, CPA, CA, CBV
Ohran Gobrin, CPA, CA, CBV
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Q: In matrimonial cases, what is the first step to calculating the equalization payment in Ontario?
OG: In a divorce proceeding, the first step to calculating the equalization payment is to complete a "Form 13.1 Financial Statement." The form has 2 parts: the first part of the form itemizes your income and expenses. Disclosure must include three years of personal income tax returns and notices of assessments.
The second part of the form calculates what is known as Net Family Property, which essentially is the growth in a spouse's net worth from the date of marriage to the date of separation. The values of each asset and liability need to be disclosed at 3 dates:

1. marriage date,

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