Deemed Taxes QRLSP Info (Qualifying Retroactive Lump-Sum Payments)

make a nwe thred as this is verry improtat.i will add to this in the new thead as i have been reaserching this a lot in the past few days.i have some ideas maybe not good ones but they are worth looking into.

propat

Fainess Provisions in Part state that Penalties and Interest may be waived or cancelled in whole or in part where they result in cicumstances beyond
a taxpayers or employers control.

This Tax problem has been solely brought on By the GOC and has been 100% out of our control.

Therefore we as a class request fairness provisions be enacted by the Minister of Finance, and all Interest recovery options, that the CRA will try to impose, such as Deemed Taxes be eliminated from the QRLSP Calculation

The QRLSP, although not perfect, as we cannot control those past years to plan Tax savings. However it does afford us the right to pay, the fair revised taxes on those years. The Deemed tax portion of this calculation is the CRA,s way to recoup Interest is feels it missed out on.

The enacting of Fairness provisions will accomplish 2 main things.

1. It will remove thousands, of unfair Taxes on our Returns, Tens of thousands in some cases.
2. This will in many cases, of Vets who have Payments going back more then 10 years or so, the opportunity of staying away from having their assessment, being forced, into being assessed all in the year it was received. This may happen if the Deemed taxes are compouded on those returns to be of no Benifit. (check my QRLSP for 1990-1992 to see the impact of the CRAs Deemed tax calculations and % of added taxes that accumulates for each year back.)

I would urge all to write Judge Barges, and voice our deep concern on how our taxes will be treated, after this Proposal is signed and we have no recourse left.

Also i would appreciate all other comments that may help in this arguement post here so it can be an organized effort.

If you take the time to read Peters Affidavit, you will find a wealth of information.

Info. about COLA
Cost of living allowance.(all good)

Info. about AUCC
Association of universities and colleges of Canada
The ones chosen to administer our $10. Million dollar education grant.
Very detailed AUCC Document.

I do not wish to say more as this settlement is not approved by the court as of yet, who knows what will happen between now and March.

Cheers
John.

20% came fron Peters Affidavit online.

Cheers
John.

20-30%withholding taxes is standard procedures and when you file in 2014 you either get a rebate or have to pay more

I have seen a few posts about Sisip only withholding 20% for taxes? Where did this fact come from? Please let me know or is it hearsay?
Thanks

yes navrat i belive so, unless the lawfirm has a say I,M not 100% sure on that question tho.

When does this happen , when you file?

K-9 CRA will access your income tax both ways, to see which way is the most benifit to you, and let you know the results.

Thankyou so much Peter for accepting my apology, and for your comments on the issue that ring so true.

I will take your advice and write to Judge Barnes and try to give him some incite on the Deemed Taxes, although he may well be very well aware of it.

Another Angle i would like to address to him is that if any case screams for fairness provisions, I would say this Qualifies. Like you and I have said a Judge in the Tax court of Canada has agreed with me that this Deemed tax is Interest Quoting " If it Quacks like a Duck and walks like a Duck its a Duck" meaning it is Interest. I would like to ask the Honorable Judge Barnes to contact the Minister of Finance and plead our case for No interest on our returns. this is such an aggregous attack against veterans. I would ask others to write and ask Judge Barnes to contact the Minister also to see if these taxes can be eliminated. Although I,m not sure if Judge Barnes can intervene in this manner but we can try.

agreed

propat

Excellent Resolution, Seal the Deal, COD and Navrat love Peter!

Fair enough. I accept your apology and appreciate it. To be clear I asked to clarify what you were referring to at the outset of our conversation, to ensure we were on the same page. Particularly where we also had a discussion about deemed taxes really being interest as noted by the Judge in your previous case. (No one, except the CRA of course, generally refers to it as deemed taxes, and I am reluctant to call it this so other members do not think it is a penalty of some sort).

In any event, I thought we had a fairly high level useful discussion about the issue. I agree it is not morally or ethically correct that the refunds will be taxed in the manner they will under the ITA, either in the year they are received, or under the QRLSP. That is however, what the ITA and CRA will require. My main point is that, there is (and was) no legal way to force a higher contribution toward this tax exposure.

Again, I encourage you to write to the Court on this issue. However, in my view the global resolution, while not perfect, is an excellent result.

All the best.

Taking break before I say something else BFN

Best Interest of the Class ? Peter Seems to me the best interest of the class for the Zero Sums like me is to pay the most Legal fees yet it appears the majority get consdered on the Tax top up. I may be wrong?