INCOME TAX RETURNS FOR THIS ZERO SUM BOUY

I understand now RobbieRoyal your post. Looks like I will be in the same situation as you then when it comes to the 1198. Good to know in advance.

ya Robbie that's the deemed tax effect buds as it is applied to the 1198 calculations. prior to 08 they are pretty high especially when they are compounded. if I recall correctly you were ten years I was hoping the 1198 would help you a little but really didn't think so. that 3.27 % was a real kick in the nads.

allways question authority

propat

Good to know RobbieRoyal that compound interest  does commence May 1st, 2014. Could you confirm that CRA did the Form 1198 calculations on your return but it had no effect on amount owing?

served 18 years 217 days and a stat holiday was thrown in lol I did pension splitting and university fees for 1 year claimed 10,000 in fees no RRSPs though, no prior years (used) deductions Smokey

Did you not have any used deductions from prior years. How many years did you serve if you don't mine me asking

I was a Zero Sum member 10 years retro no income source other than CFSA and VAC reinstated in 2012 like many and owing the tax man 33,000 k, giddy up

BUSTING BUBBLES
NOTICE OF ASSESSMENT
2013 TAXATION YEAR
REF: 1198’S USED ISSUED FOR THE LAW SUIT, NO EFFECT IN CALCULATIONS
COMPOUND INTEREST STARTS MAY 01 2014 1% OF BALANCE OWING PER FOR A MAXIMUM OF 12 MONTHS
FIRST PAYMENT MAY 01 (IF CHOSING PAYMENT PLAN) AND MUST BE PAID IN FULL IN 12 CALANDER MONTHS