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question on taxation year(s)

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Post by Rags on Thu 31 Jan 2013, 17:27

Barbados for them Turks and Caicos for me
Peter is a member of the bar Barbados I believe

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Post by Rags on Thu 31 Jan 2013, 17:25

Ya I was thinking that angle just did not know for sure how to work that majic but id have loads of room for every year since I departed CF. If I can roll 10 years of RRSP in then that will help offset that huge cut of tax.

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Post by meathead on Thu 31 Jan 2013, 17:21

If this suite has up to 9000 vets and we are to pay 65 mil in legal fees, and you divide that 65 mil evenly each vet is paying the firm 7,222.22. So for my seven grand (probably more in my case) I want the bean counters that I am paying and are working on hiding that 65 mil from the CRA for the firm. to at least send out a info sheet to make the Tax hit more bearable.
Tom Kozel CD

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Post by Will's Ridge on Thu 31 Jan 2013, 17:14

Rags, on your previous taxation summary from 2011 it should state how much RRSP room you have and the same for your spouse if you have one. For example, on my wife's 2009 Tax Return Summary it states QUOTE 2010 ESTIMATED RRSP contribution limit 67,879 UNQUOTE. This info is also stated on your NOTICE OF ASSESSMENT you get back from CCRA. It will show your limit and how much of unused RRSP contributions available. If you have an old Notice of Assessment check it out.
Now, if you only earned 36,000 last year but want to contribute 50,000 RRSP then its an overage and I think you can carry it fwd. Simply put, if you earned 36,000 last year and now want to contribute 36,000 from your settlement (if thats within your available RRSP contribution) then basically you end up paying little or no taxes and get a return for all taxes paid. I believe that if you don't have your old tax files available then you simply call CCRA and they will tell you how much RRSP room you have available.

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Post by Rags on Thu 31 Jan 2013, 17:12

leavenovetbehind.ca

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Post by Sapper Zodiak on Thu 31 Jan 2013, 17:12

Where is the copy of the judges decision? Sorry... i am on dial up in the brain.
Chimo

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Post by Guest on Thu 31 Jan 2013, 17:06

Meathead, I believe it has been posed to the legal team this idea previously on csat. The response by legal was that we are responsible to obtain tax advice on our own accord and through our own means. Sorry no other info that could be of better help. Sparrow

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Post by Guest on Thu 31 Jan 2013, 17:04

rags if you still have your tax statement from last year the ammount you can put into your rrsp is on the bottom of the last page.

propat

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question on taxation year(s) Empty For the 65 mil

Post by meathead on Thu 31 Jan 2013, 17:03

I am sure that Peter and the firm have accountants that are versed in the taxes of this country. So for the monies that I am paying in legal fees, you would think/hope that sence MC will be cutting the checks to all of us they could at least give us some info as to minimize the tax hit. I know that we all must pay taxes just like death it is forthcoming. However, for 65 mil i want, no demand tax advise.
Tom Kozel CD

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Post by LTD4me on Thu 31 Jan 2013, 16:59

Rags perhaps you could direct your question towards "call of duty" he/she seems to have lots of experience dealing with the cra

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Post by Guest on Thu 31 Jan 2013, 16:58

rags im not sure of your question and im no expert but your rrsp room increases each year so if you never used one and want to you should have plenty of room this year.

propat

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Post by Rags on Thu 31 Jan 2013, 16:50

Do we have anyone with an expertise in Taxs on here? be nice to know details on roll to open RRSP in each year can we select years. ect ect

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Post by Rags on Thu 31 Jan 2013, 16:48

Dear SISIP send cheq direct I will pay the taxs at my end. send cheq to care of guy on beach Turks and Caicos islands......no tax reciprocity with Canada ah sorry I did not know honestly. Cool

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Post by Guest on Thu 31 Jan 2013, 15:30

Yes great idea did not think of that. Cheers.

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Post by Guest on Thu 31 Jan 2013, 15:29

no prob sparrow the 14th is soon i hope it all goes well,oh im not sure if i mentioned it but the judges decission is a really good read and definatly a must to attach to you form.

propat

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