Canadian Soldiers Assistance Team (CSAT) Forum

TAXED?!?!?!? or NOT TAXED?!?!?!?

Page 2 of 2 Previous  1, 2

Go down

TAXED?!?!?!? or NOT TAXED?!?!?!? - Page 2 Empty TAXED?!?!?!? or NOT TAXED?!?!?!?

Post by eodtech on Tue 19 Mar 2019, 16:45

FFS! Is...the SISIP LTD....TAXABLE INCOME...or is it NOT....TAXABLE INCOME?!?!?!?

Piss me off. I can't get a straight answer out of ANYONE!!!
Manulife says it "depends" on the amount you receive yearly. WHAT?!?!? AND...ever since I'VE...been receiving it...THEY HAVE NOT BEEN TAXING...that "income". And I've been owing CRA EVERY YEAR since I retired. I THOUGHT...no,not thought...I was TOLD...that the Manulife/SISIP payment I would receive...was a TOP-UP...to the total 'award' I received from DND...WRT my 3B. And when I received that 'award' (and the letter that explained what my percentage of injury was)...it said this 'award'/'settlement' was ENTIRELY non-taxed. Which was true. So, if the SISIP payment monthly from Manulife IS....a top-up OF...that initial 'award' (which was non-taxed)...why would it be considered TAXABLE INCOME?

I don't get it. But NO WONDER...I kept getting an AMOUNT OWING statement of assessment from CRA!!! And since Manulife DOESN'T remove "INCOME TAX" FROM...those payments...the only way to break even w/CRA...was to INCREASE my monthly tax deductions from my CF Pension. The main and only other income I have. Mad Mad Mad Mad Mad

eodtech
CSAT Member

Number of posts : 64
Location : BC
Registration date : 2018-02-19

Back to top Go down

Page 2 of 2 Previous  1, 2

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum