Exclusions versus Deductions in family proceedings (Ontario, Canada). What's the Difference? Pt.1

When completing the financial disclosure form 13.1 for family proceedings in Ontario, Canada, there are two terms that come up: "exclusions" and "deductions". One might be mistaken that exclusions and deductions are the same thing, as amounts that is subtracted from one's tally of their net worth. Actually, they are NOT the same! In this first video, lawyer Shmuel Stern reviews the basic concepts of equalization, so that we have a proper grounding to understand exclusions and deductions.

Timemarks
3:03 Fundamental concept of equalization calculation explained
13:08 What is a "deduction"?
15:54 What is an "exclusion"?

Links
Link to the previous video mentioned at time mark 3:05
Financial Disclosure Pt 5a Excluded Property: Introduction to the Concept    • Financial Disclosure Pt 5a Excluded P...  

Guest Speaker: Shmuel Stern
Disclosureclinic.com


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