Stay on top of the CRA !!!

If as you state your initial owing at tax time was $26000 when you filed your taxes, and your NOA now states by using your 1198 you now owe $22000,
the 1198 has worked out in your favor.

If you already paid the $26000, it should show a refund in your NOA of $4000 + interest.
If you held off on paying the $26000, your NOA should show a balance of $22000 + any interest you would owe.

As far as the Deemed taxes of $9000 you mention, that is taxes that the CRA has charged you in calculating your years passed ( T1198)

If you have the calculation sheet that shows this $9000 Deemed tax, you can than attach this sheet to your tax relief form, to try and recoup that amount.

Welcome to the CRA cluster FXXX, stay tune of this site to see if anyone member benefits from this relief form.

Having done my own homework on this Deemed tax issue, if you have 10000 members who has sent in the 1198 form, and all of these 10000 members
1198's are coming from the ( SAME SOURCE ) and one member does not get charged Deemed tax, none of us should be charged Deemed tax.
This matter is being looked at today, and it is ongoing, apparently it has been showed that many tax payers who fit into this 10000 member mark
has not been charged any Deemed taxes, where as some have been charged.
It is of no surprise that the large amount of 1198's from our Law suit, that were submitted has taken the CRA completely by surprise,
I gave it my best to bring this to the attention to the CRA at the very beginning but fail to get the message through.
I was forced to take action from a higher source, and was happy to here that I am not alone in my fight, many other Veterans are fully involved in this ordeal.


In closing, no action has been taken to date to fix this issue, and no commitment has been given thus far, so don't get your hopes up,
keep sending in your relief forms, talk with your MOP, just don't give up the fight, as this may be the only way of success.

the only insight I can give you is that if you received a NOA stating that the QRLSP was used then you will receive another summary form showing the calculations from your QRLSP it will be very detailed but as for how to read it have your local H&R block people or those that helped you with your taxes break it down. To be honest my friend they broke it down into "Dummy" terms and guess what I am totally retarded with this crap. I will also tell you that of all the 11 troops that I know personally 2 had to pay 4 broke even or a big mac meal to go and the other 5 received substantial amounts in return, all of us 11 had least 33000 to 61000 owing so there is no known method to this clusterfack. Back-up my brother I wish I had good news for you but as you stated they did use the T1198 and that is that, wish I could help with the deciphering department buds but like all issues SISIP and CRA je suis perdue mon ami.

I could attend to my medical difficulties if my mind wasn't so terrified by the Tax.

Filed tax - Owing $26,000
NOA states I owe $22,000
(NOA says since the income was received for this reason, it is eligible for a special tax calculation that benefits you......The special tax calculation reduced the tax you have to pay on the lump sum payment. We will send you a letter giving details of this calculation.)

QRSLP calc sheet lists manyamounts:
Tax Diff = $19,000 Deemed Tax = $9,000
QRLSP tax adjustment = $28,000
(A) = $37,000
(B) = $38,000.

Any help in deciphering this, I would be very greatful. So Terrried and Confused.

Thanks

Back-up I hope you feel better soon after your surgery. Cant be easy I am sure to deal with this on top of recovering. I am not quite sure of your tax situation and maybe some here will be able to give you some advice. Are you saying your T1198 Statement of Qualifying Lump Sum Payment was not taken into account when your taxes were done? If your Notice of Assessment says you owe less then is that not a good thing? Maybe I am misunderstanding your post.

OK, I have followed all the info you folks provided so far and I am still completely lost with my Taxes.

I had surgery 2 weeks ago and am losing much of my fight. I just don't understand what I actually owe.

"Is it possible for the NOA to show I owe less than the amt that shows I owe on the QRLSP calculation.

I thought the QRLSP was supposed to benefit me, not make the amount owing $15,000. worse. HELP

whooooahaaaaa jumper

I received it via Canada Post cheque. You were spot onRobbieRoyal .

Thanks what a great resource

usually the first is a cheque with a direct deposit option on it unless you requested DD initially.

mine came in this morning at 00:23 hours so 22 July is a Good day lol

Thanks friend. I checked the bank but nothing and since it's my first payment I wasn't sure when or if it might be a cheque

welcome aboard my trenton friend

between the 20th and 24th normally

New here. Just wanted to ask a rather simple question. Does sisip ltd get deposited today or is it the last Friday of every month. Just been approved. Thanks for all the help

I do not believe that the DTC would be incorporated here (T1198) RCN as I just went through that and had to apply get this for another T1 Adjustment for the DTC alone, you may want to ask about that. In this whole process I have applied for 4 T1 Adjustments, I also had my wife apply for a T1 Adjustment for her un-used disability tax credits for the past 10 years hope this help, at least worth looking into.