TAX right offs

The letter from SISIP is a unique deal. When I submitted my letter for the tax deduction in 2000 it was a real head scratcher for CRA. They denied it and I talked to no less then 2 CRA agents/managers. Finally after 2/3 days they contacted me and said that "return of monthly premiums" for a client that is on LTD is only applicable to the CF.

Here's a tax check-list from a company I'm not trying to endorse one way or the other. It may generate a few ideas.

http://www.hrbtaxtalk.ca/wp-content/files_mf/1325448008GR803Checklist0711.pdf

could be puddle.when it started i dont know.mine came in 08 so im sure it would have been sometime before that.

propat

True, may be just a new thing they have begun with correspondence.

I have all my letters from SISIP and abosolutely nothing reference taxes.

ya guys im sum zero since 08 my first payment was october 2012 .i still have my old letter and envelope.the letter basicly says you are accepted but we are paying you nothing.it also says they have provided this tax letter for my use should their ever come a time i do recive payment from them.the tax letter is in their as well.so im sure they didnt do this just for me.maybe they just started sending the letters to people from 08 onward ore 06 onward im not sure but mine was in my letter.you may want to take another good look at thoes letters and if you cant find them call sisip and ask for one.

propat

I didnt receive any monetary sum until the begining of payments this past October from SISIP, being zero'd out previously.

There is nothing in any previous letter(s) from SISIP reference deducting the payments into the LTD program,

and having received no payments until this past October,

the only write off letter for those deductions for payments made into the program I may receive will have to do with my 2012 taxes as that is the year they actually began to be declared as taxable.

I don't remember ever getting one of those letters when I was on SISIP. After my release I moved from Ottawa to Halifax half way through the year, and since taxes are so much higher in NS, and are based solely on where you lived in December, I ended up through the nose.

If you have paid a portion of the premiums, the T4A you receive will be for the gross amount of the benefits received, but you can deduct your contributions to the plan. Instead of entering the T4A amount from box 107 on Line 104 of your tax return, you would enter the net amount after deducting contributions you made to the plan after 1967, if you did not use them on a previous year's return

true the tax letter will be with your initial acceptance letter from when you first applied.

propat

Yes that's true but you need a letter from SISIP to attach to your tax return.

I am sure we can all benefit from any possible tax deductions
Are the LTD benefits taxable? Yes. However, during the first year you become a claimant all the LTD premiums paid during your military career can be deducted for tax purposes