Seperate Assessment vs Seperate Treatment

Jimmy Bottles

Could someone explain the big difference between both.

From what I can tell, the only difference is that you cannot transfer tax credits between one spouse and the other under Separate Treatment ?

Also, under Separate Assessment, will both spouses be given separate Notice of Assessments and would there be a requirement to file 2 separate Form 11s ?

Thanks.

clarkey1980

Jimmy Bottles wrote: »

Could someone explain the big difference between both.

From what I can tell, the only difference is that you cannot transfer tax credits between one spouse and the other under Separate Treatment ?

Also, under Separate Assessment, will both spouses be given separate Notice of Assessments and would there be a requirement to file 2 separate Form 11s ?

Thanks.

Under separate assessment two notices of assessment will issue but any unused credits or cut off can be transferred between spouses. Two form 11s must be filed. With separate treatment you are in effect two single people.

Jimmy Bottles

Perfect.

Is there any benefit with going with Separate Treatment over Separate Assessment. I certainly can't see one.

clarkey1980

Jimmy Bottles wrote: »

Perfect.

Is there any benefit with going with Separate Treatment over Separate Assessment. I certainly can't see one.

The only benefit I can see is privacy