McInnes Cooper. A possible solution to the Deemed Tax problem

john yes but if there in school its still tax deductable.and the tax thing does suck i say we try our luck with a tax relife form it cant hurt.

propat

propat right you are, but the ones accessing this grant money will not be kids.
At least 19 years and up.

I'm curious; the Deemed tax has teeth the size of a Big White. Sure some will not be effected by it but anyone with back dated retro will.
In my case it will be $9.000. Give or take. I'm personally being charged a heavy fine for someone else’s faulty decision.

John.

no buds kids are number one when it comes to PR.

propat

i think education fund is fantastic ideal and my nephew will benifit......

Propat
Wouldn’t it be just as good PR if the Gov. said we are providing this contingency fund to help alleviate the deemed tax problem that we are the sole cause of and wish to help alleviate.

John.

becouse the negotiatios are over and since the funds are being managed by an organization that their leed negotiator i belive likes lol and its good press they would want it right where its at ore give nothing.

propat

I can't see why the Gov would not agree with this idea, sinse it would not require any more money from them, and at the same time solve a very vexing problem.

John

abetterway not on a bursery buds but if we got it in cash it would be more money but less after tax.however if used for education its deductable and now back to more money.

propat

Even if you were lucky enough to be choosen for a college grant ,you will still be taxed on this money as income for that year.

John.

well its just the way it is ore nothing.if it could be changed id say devide it so we all get 1400 so we all get it since we all have to pay leagal on it.the way it is a large part of it will go to others while we pay the leagal fees for it.even thoes that can take advantage of this if their application is accepted will get more if its devided.but no choice its this ore nothing.

this is a good deal as is the tax issue on the penelties we may be able to sort out yet.

propat

I submit the, $10. Million (university Grant Fund) be placed in a trust fund and the first year alone could earn $600.000,

This money could them be used to help Veterans recover any money, lost due to the TAX PENILITY. (Deemed Taxes.)

The $10 Million as it sets now, will not benefit very many Class Members equally.

The cost to administer this money by AUCC will be a constant drain and we will not see this money, or benefit from the loss due to admiration fees.

Anyone of any legal sense would quickly agree this Tax Penalty was solely the result of the SISIP Claw back of our pensions over the years.

Why should the class continue to suffer, ( pay for the sins or someone elses mistake..)

This is just an idea, please only one whip at a time.


Who's in favor of a vote??????????

John.