Question on Pension Acts...
4 posters
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Back on track please.
The actual original question on this thread is : I was just wondering what act actually states that the old monthly Veteran's Pension is NOT to be accounted for in any government instances? ie: Not having to declare it as an actual income towards, income taxes, the "SISIP Clawback".
Thank you.
Thank you.
Wynterowl wrote:Hi all,
I was just wondering what act actually states that the old VP is NOT to be accounted for in any government instances? ie: Not having to declare it as an actual income towards, income taxes, the "SISIP Clawback", and now supposedly with the WLRP... (not holding my breath on that one), or having to report it as income in some provincial services ie.: ODSP (Ontario Disability Supports Program.
I just need a reference link to that act.
Thanks in advance!
Guest- Guest
Re: Question on Pension Acts...
For tax purposes the VIP money is considered a grant and therefore not taxable. Check out your my vac account and it's a new section that displays your annual and semi annual VIP payments , it says grant!
Guest- Guest
Re: Question on Pension Acts...
Rex that very question was asked at the last VAC Stakeholder meeting in December and the answer is it will NOT be taxed.
Teentitan- CSAT Member
- Number of posts : 3405
Location : ontario
Registration date : 2008-09-19
Re: Question on Pension Acts...
What I have been trying to ge tan answer on, is under the old VIP, I could get all services plus any taxes I paid for those services reimbursed 100%, up to my $1400 for lawn care. But under the new plan, when they deposit the money twice a year, is it taxed? If it is, in the end every Veteran on VIP is actually losing hundred of dollars from their benefit. They say it is to cut red tape, but I suspect the only thing getting reduced is their financial obligation, once again.
bigrex- CSAT Member
- Number of posts : 4060
Location : Halifax, Nova Scotia
Registration date : 2008-09-18
Re: Question on Pension Acts...
ODSP checks CRA files and an alert gets sent to them if you have any income recorded, ie cpp premiums, EI , income tax deductions
Guest- Guest
Re: Question on Pension Acts...
If you are wondering if you claim ODSP as an income on income tax......yes you do but it's a different T-4.
If ODSP was under your wife's name, SHE has to claim it on her own income tax.
If ODSP was under your wife's name, SHE has to claim it on her own income tax.
Guest- Guest
Re: Question on Pension Acts...
They told me that I had not reported it which I did and they kept paying so they hit me hard at that time. I've had to return 3 months of it.
Example: Lets say, you have been on ODSP for 3 years and you receive money next month from this class action and you receive 5 years. They will ask for the three years back because you will receive money that would cover the years you were on ODSP.
I hope this helps
Widow of Veteran
Example: Lets say, you have been on ODSP for 3 years and you receive money next month from this class action and you receive 5 years. They will ask for the three years back because you will receive money that would cover the years you were on ODSP.
I hope this helps
Widow of Veteran
Guest- Guest
Re: Question on Pension Acts...
My other half's file with them is closed now, but it got me thinking... If this is what happened with the SISIP Clawback, then all govt. depts. SHOULD fall in line... not saying that they will. So, now I am trying to get what they took with regards to my old (monthly) pension.
Widow of Veteran wrote:Wynterowl.....be careful with ODSP. I was with them when my husband passed away and they canceled everything. They sent me a letter that I owed them and I am still paying after 6 years as they keep my income tax every year.
I believe they will stop payment. If they find out that this was retro active. They will probably ask to be reimburse as far as they can go.
Don't advise them until you get your cheque. You will have to report it. They may also ask for proof of this money that you are about to get and then they have the dates......that's the bad part.
I wish you the best
Widow of Veteran
Guest- Guest
Re: Question on Pension Acts...
Wynterowl.....be careful with ODSP. I was with them when my husband passed away and they canceled everything. They sent me a letter that I owed them and I am still paying after 6 years as they keep my income tax every year.
I believe they will stop payment. If they find out that this was retro active. They will probably ask to be reimburse as far as they can go.
Don't advise them until you get your cheque. You will have to report it. They may also ask for proof of this money that you are about to get and then they have the dates......that's the bad part.
I wish you the best
Widow of Veteran
I believe they will stop payment. If they find out that this was retro active. They will probably ask to be reimburse as far as they can go.
Don't advise them until you get your cheque. You will have to report it. They may also ask for proof of this money that you are about to get and then they have the dates......that's the bad part.
I wish you the best
Widow of Veteran
Guest- Guest
Question on Pension Acts...
Hi all,
I was just wondering what act actually states that the old VP is NOT to be accounted for in any government instances? ie: Not having to declare it as an actual income towards, income taxes, the "SISIP Clawback", and now supposedly with the WLRP... (not holding my breath on that one), or having to report it as income in some provincial services ie.: ODSP (Ontario Disability Supports Program.
I just need a reference link to that act.
Thanks in advance!
I was just wondering what act actually states that the old VP is NOT to be accounted for in any government instances? ie: Not having to declare it as an actual income towards, income taxes, the "SISIP Clawback", and now supposedly with the WLRP... (not holding my breath on that one), or having to report it as income in some provincial services ie.: ODSP (Ontario Disability Supports Program.
I just need a reference link to that act.
Thanks in advance!
Guest- Guest
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