Legal Fees (Assorted Topics)

A few members of the class complain that income tax
will be payable on their retroactive LTD payments. Taxes are, however, the inevitable
consequence of the application of the
Income Tax Act
, RSC, 1985, c 1 (5th

Supp.), and the manner in which SISIP LTD premiums
were paid over the years. Under the proposed settlement, class
members are entitled to a 3.27% gross up for taxes and will be able to elect to receive benefits over
time if that creates a more favourable tax outcome. These measures will mitigate the impact of income
tax on taxable recoveries. It must also be kept in mind that had class members received their full LTD
benefits in accordance with the SISIP policy that income would have been taxable at the time of
receipt.

It is acknowledged by the parties that the payment
of LTD benefits to members of the class will attract income tax. Because SISIP LTD benefits
constitute taxable income, the payment of income tax is essentially unavoidable. In order to
mitigate the impact of tax on lump sum recoveries, disabled recipients will be permitted to
spread their retroactive refunds over the years it would have been payable if that option reduces their
tax exposure.

RobbieRoyal
I agree with your statement and we will have to see how we all make out after the taxes are done. With any luck it will be less painful than expected and THE LAW will work for us not against us.

Ya, I should be ok, I have a garage filled with them after the whole sisip saga unfolded, I wonder if the fork lift and bin fees are tax deductible

"Navrat" I am looking for tax receipts at this moment!, can I deduct light beer as a health deduction?
If I recall Nav you have a fondness for Depends from time to time perhaps you could deduct those on your tax receipt.

Oh PGV my damn heart sinks with every story about our soldiers but then I think back and realize this very important fact, those that stood before me will openly shuffle to the right to allow me to stand within their ranks when my time comes then I will be with my brothers for we are the soil that freedom walks on.
For Country

Well put I just want to be treated fairly and with respect, like everyone in this world deserves. We signed up to serve and did everything we were asked and more. Those that walk away with nothing but great memories and a healthy body are the lucky ones. For the rest of us we were told if anything happened to us that we would be taken care of through VAC or SISIP(a premium we had no choice in). So to have to continually fight for everything and even fight for it after you have been given the help is well... just... wrong. The GOC has given more money away to nations around the world and sent the troops to help or enforce but the help we need for our wounded is pennies in comparison. I look back sometimes and ask myself why anyone now would even take the risk of joining the military but at the same time I wouldn't change my decision to join even though I now understand why I really joined and why being medically released still torments me. I joined to be apart of something so big and so important to people I barely know or will never meet, that I do not have the words to describe it. I don't like being call a hero I have too many friends that are not here anymore that I consider heroes. I just want the GOC to not shake my hand once a year the rest of the time figure out how to quietly ignore us and take back money.

Well F foundry I sure wish it was that easy but me thinks that the GOC already knew that we would not be getting any break as far as taxes and I think that they will squash any attempts at leniency towards tax relief, sure 9000 or so pissed off veterans will raise a stink but so will 20,000,000 or so heavily taxes Canadian's who will question why the hell are THEY paying for any relief. Votes or no votes this is all about forecasted dollars that the GOC has already spent and finally with the treatment of veterans being at an all time low just ask yourself why was the WAR of 1812 so important to our government?
Just look at how fast and how financially liberal the GOC spent tax payers dollars to give Canada a history lesson, in my opinion that history lesson cost our veterans a huge gaping hole in history. Overshadowed are the veterans still laying in the streets and the cruel and disheartening treatment of our aging veterans at the mercy of a governing body that see them as nothing but money sucking overpaid snivelling disabled cry babies who sit on their arses collecting 2 or 3 pensions and still bitching. That my friends is what we are fighting not a money issue but an identity issue.

Agree with you found, we just keep on paying. I failed to mention that I am also approved by CRA for the disability tax credit so hoping that will relieve a bit of pain but doubtful. Maybe the PMs COS will cut us all a cheque to offset some expenses.

RCN is correct about taxes at this point my accountant has told me the same thing he added on all my other pension income for the year and worked out all my RRSP's and it was about the same numbers as RCN.

I for one will look at going to court on the issue of tax penilties of any kind under any name as we / I can not be held responsible for the GOC actions. It is a fact that it was the GOC that gave the order to SISIP to hold back our money!!!

I am looking for tax receipts at this moment!, can I deduct light beer as a health deduction?

That scares me as well. Did they tax at 30% and still not enough taken off. I remember someone saying last year on csat that this was going to be the case that not enough taxes would be deducted and the end take home was going to be half of what was owed to us. Seems that person was correct.

Wow RCN

RCN , those figures scare the shut out if me!

To bed we go, as that is what we can do and move on the best we can. Let's hope for the sake of those fighting the NVC have success so there can be a better QoL for them.