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TAX and SISIP retroactive payments for T4As and T5s what year can I tax it in?

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Re: TAX and SISIP retroactive payments for T4As and T5s what year can I tax it in?

Post by propat on Sun 07 Jan 2018, 10:16

hey buds by the bay is correct you can claim it in the year received or the year it is intended for however you may have an issue . I'm a little unsure of your question . did you already pay this for the 2013 tax year ?

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Re: TAX and SISIP retroactive payments for T4As and T5s what year can I tax it in?

Post by By the Bay on Sun 07 Jan 2018, 03:04

Rags,

You can added it to the tax years it was intended for.
So if SISIP owed you money from 2003-2005, you can apply it to those years!
SISIP owed me money from April-July 2005.
I finally got my dispute resolved in 2008, CRA applied that income adjustment to my 2005 tax year.

Hope this helps
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TAX and SISIP retroactive payments for T4As and T5s what year can I tax it in?

Post by Rags on Sat 06 Jan 2018, 17:59

Hi All

Was looking back at tax crap and found in 2013 after SISIP win I got a T4A and a T5 for money they owed me for 2003 to 2005 the 2 years SISIP money ya get on release for medical. Can I declare that in the tax years it was for 03-05 or do I have to claim it in the year they sent it to me 2013?

Due to fin and other technical issues I dont want to even acknowledge the income in 2013 but more then happy to have it claimed in the years it was to be paid to me part of 03 and 04 and part of 05.

Thoughts anyone done this?

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Re: TAX and SISIP retroactive payments for T4As and T5s what year can I tax it in?

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