Précis: Mr. Blue and his ex-wife agreed to her receiving $12,000 per annum for 5 years on the breakup of their marriage. Originally the payments were to be monthly but that was changed to one annual payment of $12,000. When he sought to deduct the first payment in 2013 CRA denied the deduction on the basis that it was not a payment for maintenance but rather a non-deductible capital payment.
Blue v. R. - TCC: Annual payments were deductible as spousal supportREAD MORE »