can someone please answer!!!!
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Re: can someone please answer!!!!
The total is with a 3,27 percent added for taxes purposes!
Sapper, I don't know about the last 5 percent you are talking about!
Sapper, I don't know about the last 5 percent you are talking about!
K9- CSAT Member
- Number of posts : 333
Location : Montreal
Registration date : 2012-09-12
Re: can someone please answer!!!!
Ok here is the skinny from what I know about simple interest.
Add your income from 2002 to dec. 31/ 2008. Times this by 5%.
Add income from Jan. 01/2009 to Apr. 30/ 2012. Times this by 3%.
Add up amounts of interest. This is your total before extra 5% is added from end of clawback to time money is sent to Mcinnes cooper to pay us.
Good luck. I am owed from 1991 and my interest is only about $17000.00
Add your income from 2002 to dec. 31/ 2008. Times this by 5%.
Add income from Jan. 01/2009 to Apr. 30/ 2012. Times this by 3%.
Add up amounts of interest. This is your total before extra 5% is added from end of clawback to time money is sent to Mcinnes cooper to pay us.
Good luck. I am owed from 1991 and my interest is only about $17000.00
Sapper Zodiak- CSAT Member
- Number of posts : 963
Age : 55
Location : warm side of the rockies...
Registration date : 2012-11-12
can someone please answer!!!!
i been clawed back from 2002 to 2012..... my total 210000 when they mention interest how does it work?
5 % per year ???????? or do i just take 210 000 add 1 time 5 % = 10 000 & 1 time 3.25=.6500...... would my total after interest applied be around 226500............
or would i get 10 000 per year from 2002 to 2009 = 70000 interst then 2009 to 2012 get another 3 years at 3 % wich equals about another 6600 X 3=around 20000 ....
if anyone still with me... would i get my retro amount of 210 000 and about 90000 for interest ???? then taxes of around 43 % according to chart then add another 7 percent gst and also deduction for ei...... and then i take another 17.5 for lawyers
clawback 210 000 (may 2002-may2012)
interest total be 20 000 or 90 000 not sure how applied to claw back
assets=230 000 or 300 000
lawyer fees around 39000 this will be deducted from principal
fed tax 30%= from 230000 or 300000 depends on interests i could pay up to 70 to 100k deduct
provincial tax 14%= 30 000 deduct from principal
gst 7 % 14000 deduct from principal
ei 4000 deduct from principal
can someone please help me out ? am i close??? how much interest will i add to 210000? please someone take time
5 % per year ???????? or do i just take 210 000 add 1 time 5 % = 10 000 & 1 time 3.25=.6500...... would my total after interest applied be around 226500............
or would i get 10 000 per year from 2002 to 2009 = 70000 interst then 2009 to 2012 get another 3 years at 3 % wich equals about another 6600 X 3=around 20000 ....
if anyone still with me... would i get my retro amount of 210 000 and about 90000 for interest ???? then taxes of around 43 % according to chart then add another 7 percent gst and also deduction for ei...... and then i take another 17.5 for lawyers
clawback 210 000 (may 2002-may2012)
interest total be 20 000 or 90 000 not sure how applied to claw back
assets=230 000 or 300 000
lawyer fees around 39000 this will be deducted from principal
fed tax 30%= from 230000 or 300000 depends on interests i could pay up to 70 to 100k deduct
provincial tax 14%= 30 000 deduct from principal
gst 7 % 14000 deduct from principal
ei 4000 deduct from principal
can someone please help me out ? am i close??? how much interest will i add to 210000? please someone take time
Last edited by mfors2222 on Thu 10 Jan 2013, 21:38; edited 1 time in total (Reason for editing : mistake)
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