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Class Action Updates

March 24, 2020

اطلاعات راجع به ادعاهای جبران خسارت (به زبان فارسی) Compensation Claims Information (in English) CFM Lawyers is a Vancouver based aviation law firm. We act…

February 12, 2020

Settlements have been reached with all defendants in the Automotive Wire Harness Systems action. The Courts have approved a protocol for the distribution of the…

January 29, 2020

The British Columbia ODD class action has been certified on behalf of a national class.

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32. Do I have to pay taxes on my share of the settlement funds or put it into my DC account/RRSP/pension?

It is not clear at law whether receipt of the settlement funds could attract income tax. We recommend that, if you have further questions about this, you should get tax advice.

You can do whatever you want with your share of the settlement funds. However, it is possible that the CRA will view this as a pension withdrawal. Putting it in one of those places will avoid that risk.

We recommend that, if you have further questions about this, you should get tax advice.

Posted in: Questions About Sharing in the Settlement Funds (Distribution Protocol Questions), Teck/Cominco Class Action FAQs

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