Canadian Soldiers Assistance Team (CSAT) Forum

Repayment of bridging portion of CFSA

View previous topic View next topic Go down

Re: Repayment of bridging portion of CFSA

Post by prawnstar on Tue 28 Mar 2017, 19:36

Trooper, typical gov't SNAFU and who suffers? Not them.

prawnstar
CSAT Member

Number of posts : 286
Location : on an island
Registration date : 2012-09-20

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by Guest on Tue 28 Mar 2017, 15:48

prawnstar wrote:A buddy of mine is having trouble since receiving CPPD. He has been waiting for DND to tell him what he owes them for the bridging portion of his pension. He said since our pension services have moved over to Services Canada or whatever it's called today, he has been trying to find out what he owes so he can repay them. He wants to do his taxes but wants that re-payed first. They are not returning his calls or emails.

prawnstar,

It is called the administration transition from (CAF) pension plans to the Government of Canada Pension Centre at Public Services and Procurement Canada (PSPC).

This new system is a total nightmare, I hope they get this right, lots of problems all the way around.
I was also told that they are going to switch us to the Phoenix pay system, which is also a total nightmare.

What ever happened to if it's not broken, don't fix it!

Another make work project created by the government!

Guest
Guest


Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by johnny211 on Tue 28 Mar 2017, 14:49

Teentitan - prawnstar - My iPad don't like doing your handle teen,,..lol. It's been a couple of yrs but think how I calculated my caf bridgeing amount was , look at the bottom left of caf statement, says how much monthly bridgeing is, then x it by how many mths cppd backpay I got. Then again maybe this ptsd brain of mine is in a loop again. If we can't laugh at our selves, ..lol VVV..
avatar
johnny211
CSAT Member

Number of posts : 578
Location : Down East
Registration date : 2014-12-26

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by prawnstar on Tue 28 Mar 2017, 14:47

Yup I did 15% with CPPD so I would get money back instead of having to owe then look for money to pay CRA.

prawnstar
CSAT Member

Number of posts : 286
Location : on an island
Registration date : 2012-09-20

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by Teentitan on Tue 28 Mar 2017, 13:56

Thanks. I sorta know what your friend is going thru. It happened to me when I got CPPD. It's a pain in the arse but part of the rules.

One more point if your friend doesn't know he has to tell CPP how much to take off for taxes on his CPPD.

The rule of thumb I was given. Start off with a 5% tax deduction of his CPPD payment. Then increase if needed after doing taxes the following year.
avatar
Teentitan
CSAT Member

Number of posts : 3293
Location : ontario
Registration date : 2008-09-19

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by prawnstar on Tue 28 Mar 2017, 13:30

Thanks Teen I will pass it on. I appreciate your input in this forum and look forward to your continued sound advice.

prawnstar
CSAT Member

Number of posts : 286
Location : on an island
Registration date : 2012-09-20

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by Teentitan on Tue 28 Mar 2017, 13:26

Well if his situation is not cleared up by the end of the month then he has to take the tax hit this year but will get it back next year on his taxes when the CF pension is straightened out for him.
avatar
Teentitan
CSAT Member

Number of posts : 3293
Location : ontario
Registration date : 2008-09-19

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by prawnstar on Tue 28 Mar 2017, 13:22

OK thanks Teen. He actually got his CPPD last year and owes a bunch on last years return and has 12k that he is hanging onto and was hoping to avoiding the extra money showing as income.

prawnstar
CSAT Member

Number of posts : 286
Location : on an island
Registration date : 2012-09-20

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by Teentitan on Tue 28 Mar 2017, 13:16

Prawnstar the best advice you could give him is tell him to bank any backdated CPPD he received and at least $500 of his CF pension until they get to his claim.

The whole CF pension is a FUBAR situation!

If his CPPD is/was certified in 2017 he doesn't need to worry about doing his taxes now. It can all be corrected/claimed on his 2017 taxes because the CF pension is not adjusted yet.

By banking the money and waiting he can at least make some interest.
avatar
Teentitan
CSAT Member

Number of posts : 3293
Location : ontario
Registration date : 2008-09-19

Back to top Go down

Repayment of bridging portion of CFSA

Post by prawnstar on Tue 28 Mar 2017, 13:05

A buddy of mine is having trouble since receiving CPPD. He has been waiting for DND to tell him what he owes them for the bridging portion of his pension. He said since our pension services have moved over to Services Canada or whatever it's called today, he has been trying to find out what he owes so he can repay them. He wants to do his taxes but wants that re-payed first. They are not returning his calls or emails.

prawnstar
CSAT Member

Number of posts : 286
Location : on an island
Registration date : 2012-09-20

Back to top Go down

Re: Repayment of bridging portion of CFSA

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum