Repayment of ELB

I would ask for the statutory authority requiring you to pay back ELB/SISIP/CF pension or whatever. They cannot do what they are doing.

I was a CRA tax collector for 16 years. Ask them for the proof you owe, certified by a judge.

CRA had it in the Income Tax Act that their bill is the same as a court order. Not CF pensions/ELB/CF pensions.

That is where it goes and I repaid CFSA and SISIP LTD but SISIP's T4 is going to be reduced by the amount I repaid. Not sure what my CFSA T4 will reflect. Tax time is going to be hair pulling , good thing I am bald.

Just to confirm firebird, if dva gives us a T4A for the ELB amount repaid would you still need to put anything on line 232 or is that where the T4A details are entered on that line?

Any repayment can be claimed back as you did not get to "keep & enjoy" the property. In other words, taxed 2x on 1 lot of money

Line 232.

ELB should be tax free

If you ever paid back SISIP/ELB etc, don't forget to get CRA to take the repayment off your income under ITA s. 8(1) & refer to the Lunn TCC case

Update for Firebird on the repayment of ELB back to DVA.
I spoke with DVA today and was able to have confirmed that we will be receiving a T4A as well as a letter from DVA outlining our particulars in the new year for tax season. I am glad to finally have a definitive answer from DVA as I was previously unable to get one. I thought I would share this with you as I know you are in a similar scenario.

Mine was $52,373.44. Unless Nav is a maritimer , I think that is enough.

LMAO @Sparrow/are you sure there would be enough to cover navs tab.

I hear you firebird. We could have done a csat med cruise with the money we paid back for ELB to DVA and I could have paid off Nav's Legion tab.

Well I have brought a bank draft to my local VAC office for the repayment of my ELB for them to mail internally to Kirkland Lake. I should have gone to Mexico instead and had an awesome party. LOL

I received documents from VAC for the amount of ELB that I must repay , just waiting for contact with where I send it to.

Thank you for all the input, it really helps as we are in the same situation as firebird.

yes.