Legal Fees (Assorted Topics)

Sapper, the retro active aspect of the SISIP money ended as Of Mao 1st, 2012, when the decision was released, so therefor the cheque from SISIP would go from the day you were medically released to May 1st. There would be simple interest applied each year on that amount, until May 1st. Then post judgement interest was supposed to start based on the total of the accumulative retro AND the accumulated interest, because the total amount is what the award was, not just the retro. And I know that it list post judgement interest on the worksheet, but the calculations do not reflect that it was used, and is why people are asking questions now.I will give an example below.

That means that as of May 1st, everything from SISIP is considered current payments, and therefor not subject to legal fees. But because the Government held reinstatement process hostage for the negotiations, the payments didn't start until September/October. That means that once the retro portion is paid, all the members who were reinstated will receive their "current" payments for the missing months directly from Manulife.

My base retro was $34796, starting Jan 4 2006. With the simple interest rates list of:

2006 = 5%
2007 = 5%
2008 = 5%
2009 = 3%
2010 = 3%
2011 = 3%
2012 = 1% (for the first 4 months)
Totaling 25%

Now if you add 25% to my base retro it comes to $8700, as a rough estimate of interest, and they list my interest at just over $9000, so pretty close for an estimate. Now if they had added the 7.25% of post judgement interest on top of the existing 25% of simple interest, the estimate increases to around $11220. If they calculated it on the total award, the post judgement interest it would have been $3260, but is not reflected on the cheque. So, there is no scenario on my worksheet that allows the inclusion of the 7.25% post judgement interest in any of the calculations.

having said that Rex my calc sheet declares all of 01 May to the 31 May but I also am confused as why the court order says July of 2012 no lawyer fees to be applied yet i am out four months including June July Aug Sept received LTD benefits for the first time in October of 2012, sure I can get confused but again the play on words is weirding me out here

Sapper, you are still in this group, unless when you were reinstated, they paid you for those months already. That being said, current payments aren't going to collect interest, but the entire amount of retro owed owed, not just those missing months, were supposed to be gathering interest until the amount was sent to MC. So for every $10000 in retro, regardless of when it was owed, there should have been a minimum of $500 dollars extra in post judgement interest just from May 2012 to May 2013.

I wonder whats up. I was reinstated in August of 2012 due to the MND raising the minimum sisip ltd amount. I am not in the 4 months group, but still my interest was only paid until May 2012? Is there a seperate cheque for the interest for everyone? And if so...why?
Sap

Hey Wills, I think it might relate to the 4 month retro we are owed. Mine too went to May, then there's June , July , August , Sept , the four months owing plus they are giving us a extra cheque for interest for those months , then we all got a monthly ltd cheque starting Oct 12, so this explains it I believe

Has anyone noticed that our refunds did not include interest from 31 May 2012 to the date when your file was finalized. My Claims report only shows interest paid up to 31 May 2012? Navrat, any ideas?

I wonder if MC will provide a legal synopsis for the purpose of the tax relief form questionairre. I will inquire and get back to you.

lmao you guys are to funny.

propat

I will nav as long as you put this one in your application

Hey, Sparrow, include a print of that picture in your return, lol

ok propat word for word I shall put that on my application! 

Too true, Propat

we got fracked.

we tried to frack them back.

they bent us over like $10.00 hooker and fracked us again and all we got was a sore ass and 4 lousy bucks.

I may ore may not be happy about paying the tax on it but I sure as hell do not want to be paying interest on that tax.

ya see what I mean sparrow.

propat

Describe the circumstances and facts supporting your tax payer relief ~ include history of events. I started to fill in this portion of the tax payer relief form but thought perhaps we could collectively collaborate on this portion of the questionnaire so we all are on the same page from here on forth with Canada Revenue. Any thoughts anyone of what to put in this section? Thanks amigos.

you rock too propat thank you so much for your help on this tax payer relief form....