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Class Action Updates

June 5, 2019

Settlement A settlement has been reached with the defendant, Nishikawa Rubber Co. (“Nishikawa”), in the amount of $5,750,000. The Nishikawa settlement releases the claims against…

May 13, 2019

Settlements have been reached with LG Chem and Toshiba totaling over $5 million.

May 7, 2019

Settlements have been reached with the defendants in the following actions: Starters Mitsuba Corporation and American Mitsuba Corporation (“Mitsuba”), in the amount of $1,228,599.32. Windshield…

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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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