HAS THE QUESTION BEEN ANSWERED ................ IF THE RETROACTIVE PAYMENT IS FOR PAIN & SUFFERING , "" LEGALLY "" DO WE OWE THE TAXMAN A .... 40 % REBATE ON OUR MONEY ?

At 30% tax withheld on our retro, and claiming the Legal fees, some might get a refund.Of course that would depend on your tax situation.

Agreed Sparrow, but many government institutions are allow those on fixed GoC pensions access to programs now. Even provincial governments are doing the same...and certain businesses. An example is that my payment to Ontario Hydro is always late, due to the date that I receive my end of the month pensions...so they waive ANY late fees, because I let them know about my predicament...some companies don't give a damn and are dicks about it...I'd say about 50/50 out there will be cool, especially if you inform them that you're receiving a pension from VAC, then there's a bit of the respect factor kicking in.

LOL@Nav...be careful how many you bring in at one time...your refund may put you in a higher tax bracket. lol

My answer, I guess I will be cleaning out the Navrat garage, I have a lot of emptys and will use this to reduce my tax bill, oh, guys, do they still refund stubbies

The Healthy Homes Renovation Tax Credit is only for seniors 65 years or older unfortunately. I do know from the past that CRA is very picky on their guidelines of what is acceptable renovations, modifications and equipment. Even medical expenses unless in the $1000 +  ranges wont be included on your income tax return and have little to no affect on your refund. I will do some more research and see what I can find.

Agreed Zippy...any tax shelter is better than none, and it's not like we can fly our money out to Belize to hide it from the CRA, like the supposed upper-class do. I'm sure if we all look hard enough, we can find ways to keep what we have either in our own pockets or spend on home improvements to make your life as a disabled person a little easier...all tax write-offs. Need a new bed for your back...new boots or shoes to help with your aching legs and feet...etc, etc, etc... all medical expenses and all tax write-offs. Now of course, these are legit...not like we have tax lawyers looking for loopholes, it's just an idea to keep your wealth at home instead of returning it back to the GoC via the CRA.

The money normally put into RRSP's has already been taxed! The GoC can only tax the gain on the RRSP and not the principle. But when you take it out a small piece at a time (what is needed each year), then each individual may stay under enough to not have to pay taxes each year! Just a thought!

All we can do is utilize the RRSP route, but then in the end you still pay a second helping of taxes when you try to use it. If they're going to take your money away in taxes, better that you use it first for medical expenses that VAC won't cover...then you can claim it!

Max out your RRSP's, which I think most of you could go back a number of years! This way the GoC does not get as much back as they thought!

It's a salery replacement, part of a insurrence compagnie, do not forget you paid it this insurence compagnie

1.  VAC PENSION IS NON- TAXABLE DUE TO PAIN & SUFFERING

2. SO WHY PAY TAXE'S ON THE RETROACTIVE FOR PAIN & SUFFERING FOR THE CLASS ACTION ?


For Country
Retired Army Master Sniper
Dave Fitzpatrick