OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
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bigrex
Teentitan
6 posters
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
Teen, at the start of your thread you posed some questions for discussion, however I think you missed one, and that is what is the definition of "the most seriously injured"? Is there going to be some magic table that some bureaucrat makes up for other bureaucrats to follow? Is my PTSD not as severe as yours? Who will make that decision?
loggie- CSAT Member
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
Another aspect of this new scheme, is it removes some Veterans ability to use tax exemptions like the DTC.
Example if your pre-release salary was $50000, your old 75% ELB amount is $37500, if no deductions. Taxes on that amount is roughly $6200, but the DTC amount is over $7300, so you would recover all the taxes paid from the ELB.
Now if the new plan is adopted, your gross salary was still $50000, and net amount (if only using federal tax rates), would be $42076. This is based on 15% on the first $43,953, and 22% on the rest of the $50000. 85% of that, is only $35765. That would result in a loss of over $1700, and that loss would be even higher if provincial taxes are included in the calculations
Example if your pre-release salary was $50000, your old 75% ELB amount is $37500, if no deductions. Taxes on that amount is roughly $6200, but the DTC amount is over $7300, so you would recover all the taxes paid from the ELB.
Now if the new plan is adopted, your gross salary was still $50000, and net amount (if only using federal tax rates), would be $42076. This is based on 15% on the first $43,953, and 22% on the rest of the $50000. 85% of that, is only $35765. That would result in a loss of over $1700, and that loss would be even higher if provincial taxes are included in the calculations
bigrex- CSAT Member
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
It makes you wonder where they come up with these ideas! I thought they were going to help not take away
Guest- Guest
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
well the big one for me is lifetime ELB witch would be a big improvement and well worth the time and effort. again the buyout has to end. if not then its all a big waste of time.
propat
propat
Guest- Guest
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
Here's a possible monkey wrench...
Threshold of $70,000
Now does 'threshold' in the legal world mean minimum or maximum?
If it's minimum I understand the 85% net income.
For Pte to Sgt $70K for life tax-free takes financial worries out of the picture for the seriously disabled.
85% of net income for WO to General is a balance of equality with the lower ranks.
Thoughts?
Threshold of $70,000
Now does 'threshold' in the legal world mean minimum or maximum?
If it's minimum I understand the 85% net income.
For Pte to Sgt $70K for life tax-free takes financial worries out of the picture for the seriously disabled.
85% of net income for WO to General is a balance of equality with the lower ranks.
Thoughts?
Teentitan- CSAT Member
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
Why does there have to be a threshold! You earned that rank and pay so if your disabled you should get 85 percent end of!
Guest- Guest
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
I wish it was spelled out clearer, but to me, it sounds more like they are putting a cap on the ELB. Saying that they will pay 85% of net salary, UP TO a $70000 net income threshold, (which is $59500). But at least they have recommended that it be indexed at CPI, and not capped at 2%.
bigrex- CSAT Member
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
http://www.ctvnews.ca/canada/rally-against-ottawa-s-treatment-of-veterans-underway-on-parliament-hill-1.1852889
See video reports 1) Veterans React To Report and 2) Veterans Charter Won't Work
See video reports 1) Veterans React To Report and 2) Veterans Charter Won't Work
Guest- Guest
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
I'm trying to get 'threshold' defined Nav. Think if your a Pte or Cpl and your severly injured and the minimum for your ELB is going to be $70K a year for the rest of your life? Takes care of a lot of problems wouldn't you say?
Loggie missed your question about severely disabled. Well that's where the non-medically trained adjudicators come in. They assess your injury/injuries and if they come up with, I believe, 78% or higher your severely disabled.
That's why I posed the question a number (percentage) should not replace reality. Especially is PTSD is in play.
Loggie missed your question about severely disabled. Well that's where the non-medically trained adjudicators come in. They assess your injury/injuries and if they come up with, I believe, 78% or higher your severely disabled.
That's why I posed the question a number (percentage) should not replace reality. Especially is PTSD is in play.
Teentitan- CSAT Member
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
That would take care of a lot if problems but I just think it should be based on your best 5 years average with a minimum amount incase some Ordinary Seaman or private gets injured his first engagement
Guest- Guest
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
Nav you contradicted yourself there. Best 5 years then you use an OSeaman on first engagement? That's not 5 years is it?
I'd rather see anyone get a minimum of $70K if threshold means that.
I'd rather see anyone get a minimum of $70K if threshold means that.
Teentitan- CSAT Member
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Location : ontario
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
If you didn't have 5 years in it would be a set minimum like sisip does now,
Guest- Guest
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
It wouldn't be $70000. It says that $70000 would be the threshold for the net salary. Therefore the ELB would be 85% of that amount, which is $59500. Definitely not a slap in the face, if this is truly the minimum, but I fear that the $70000 is more likely the maximum amount they will use to calculate the ELB.
bigrex- CSAT Member
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Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
That's the problem with the wording on this recommendation. It is too confusing and where they came up with this "net income", "threshold" and $70K needs to be explained more thoroughly.
If there is not any clarification by ANYONE on the committee by end of business on 5 June then this whole report has a bad odour of a department helping the committee write the report.
It was addressed on the day the report was released. Requests went out today from many people to MP's so don't play the late for my plane, train, meeting BS.
Clear up this issue now.
If there is not any clarification by ANYONE on the committee by end of business on 5 June then this whole report has a bad odour of a department helping the committee write the report.
It was addressed on the day the report was released. Requests went out today from many people to MP's so don't play the late for my plane, train, meeting BS.
Clear up this issue now.
Teentitan- CSAT Member
- Number of posts : 3413
Location : ontario
Registration date : 2008-09-19
Re: OPINIONS/COMMENTS on the 3 Jun 2014 NVC Report
Well, since there has been no clarification on this, I am guessing the the $70000 is the maximum limit. Otherwise the MP's would have been climbing over each other to say that we would all be getting at least this amount for ELB.
bigrex- CSAT Member
- Number of posts : 4064
Location : Halifax, Nova Scotia
Registration date : 2008-09-18
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