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Class Action Updates

November 27, 2020

On November 18, 2020, the BC Court certified a settlement class regarding a settlement entered into with Panasonic.  For details of the settlement approval hearings,…

November 25, 2020

A settlement was reached in February 2020. The settlement is subject to court approval. The notice to class members regarding certification and settlement is available…

November 23, 2020

Claims process for settlement funds – make a claim now. If you are a Canadian resident as of May 25, 2016 who, between December 23,…

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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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