My soon-to-be-ex-husband and I split in mid-2016. When most people hear the word “divorce,” they can’t help but think of the associated negative financial consequences, but many forget the tax implications. Even I didn’t consider them until I sat down to file my taxes and learned that even though we’d been living “separate and apart” for more than half a year, his income would still have a big impact on my income tax filing. If you’re recently separated or divorced, it’s important to understand how this affects your taxes. Below are some tips to help make filing your income taxes go as smoothly as possible in the wake of the breakdown of your marriage. Change your marital status with Canada Revenue Agency In the eyes of the CRA, once you’re married, you’ll never file taxes as “single” ever again. You’re forever separated or divorced. Semantics aside, it’s important to notify […]
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