Hi everyone I need help.
Grievance settlement offer.
Damages for relinquishing the statutory right to
reinstatementre-instatement to a unionized job
Is this taxable or non taxable?
Does this offset by long term disability insurance or not?
Hi Samir, I am sorry to suggest this but you will need to consult a lawyer who can go through the language of your LTD policy and your settlement agreement to advise. Your union might have what you need too.
What type of damages? Human rights damages? Punitive damages?
Damages for relinquishing the statutory right to
reinstatementre-instatement to a unionized job
I know lawyers are notorious for saying it depends but honestly this is a really tricky area that trips a lot of people up. There may be an opportunity to negotiate it in a way that has different tax treatments or splits it across different tax years and if you have contribution room there may also be an opportunity to use RRSP room to delay or reduce taxes.