$20000000.00 Million for McInnes Cooper, -$100,000.00 for Dennis Manuge,-$415000000.00 million Returned to GOC via Taxes (Income tax and GST) Write your PM your MP its up to Y_O_U!!!

Bugout... paying off you mortgage is never a bad option.

My husband has some RRSP cap left so we are going to put as much as we can in RRSP...even with them keeping 20% off the top we will have enough to max out his RRSP... hopefully when it comes tax time we will get some of the 20% back, or at least the deduction will keep us from having to pay more.

The following years we are going to withdraw the max extra payment of the mortgage from the RRSP(I think it is 10% of the original amount in our contract) pay taxes on it (at a lower tax bracket then we would this year) and put that amount on our mortgage. Repeat each year until the money in the RRSP is gone or the mortgage is paid off... which should happen around the same time for us if my calculations are correct.

A comment on another post seems to concern me. If we paid back sisip money we owed them will that money be subject to retaxing and legal fees?

oldvet, I talked with my financial advisor and he said that it would not likely happen that we could roll over our settlement money directly into an RRSP at source because then the Gov will not get their taxes. He suspects we will have to pay the taxes and then decide if we want to put them in RRSP's. I think that was how it was explained to me. I hope we have a better option than that otherwise, if I have to pay the taxes up front why bother putting in RRSP's at this point in my life when for me it does not work out for my best interests. I would rather pay down my mortgage. Bug Out

I think our entitlements will be partially taxed at source. So the idea of rolling them over to a RRSP to save on taxes, who knows?

Good Point Joan

the good news is you have from the time we get the money to April 30 2014 to come up with ways to decrease taxes

Good luck and god bless

I am good to go, nit getting much back 27 months we seek pro help once i got out taxes became more complex.

DCHD, thanks I am good on that point. Do you have a spouse and if so she may have room on her RRSP for you through a Spousal RRSP plan? I don't know if you are getting a substantial amount but if you are then I strongly recommend paying a couple hundred dollars to see a professional and not just some bank financial planner that will advise the basics.

Will i hope you have room to use for a tax refund.

Because all pension money is not earned income so i have no tax break room.

Sucks hey I hope your spouse has room.

In the Afadavit of Peter Driscoll, on leavenovetbehind.ca, I believe it says costs to date are approximately $168,000.
Chimo

I think it costed MC more than 350,000 to fight this.Likely we will never know doesn't really matter. As long as all Vets get respect!

Joan, very difficult to analyse what the average vet will see as a return. With the legal fees,interest, taxes, higher tax brackets it remains unknown to me although many are giving educated guesses. My educated guess after looking at the numbers is 60% in pocket if I utilize the tax laws to my fullest advantage (RRSP's, etc)

JoanofArc, yep it will be interesting. Lawfirm's out approx. 250 to 350,000 dollars so it was a great case for them to take with a possible 65 million or more return, however, any other lawfirm would have made a similar deal and for us its just the cost of seeking justice.

Guest wrote:My estimation of the final settlement and it STILL ain't right!

Did you know the settlement cost to GOC is about $900 million (+ 750 THOUSAND IN LEGAL FEES FIGHTING MCINNES COOPER)

McInnes Cooper will get $20000000.00 Million Dollars ($66 MILLION?? ARE YOU KIDDING ME?? $20 million is a huge pile of beans especially when government only spent 750 thousand aggressively fighting back)

Dennis gift will be doubled to $100000 Dollars (SEEMS FAIR)

The GOC will get over 55% returned to them via Income Tax,the GST = $415 Million

The Vets will get the spoils About 40-50 % of the amount clawed back WE MUST DEMAND 100% OF WHAT WE ARE OWED

Something stinks of unfairness!

Keep the smell at bay and write the PM your MP get out and discuss it with your family friends and anyone who will listen.

Its up to you Its your turn to speak up and not just here! Write now just as you did to support the do not appeal effort.

There is a dead skunk in the middle of the road AND its stinking to high heavens

Is it true the average vet will only get 40% -50%?