Lawsuit settlement payment

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
moi
Posts: 44
Joined: Sat Aug 13, 2011 9:47 am

Lawsuit settlement payment

Post by moi »

Good morning.
Would you know, if you are able to redeposit money awarded from a class action lawsuit, into the account it came from? In this case, it was from a TFSA.
One call to CRA, they said yes, the other is unsure!
I'm searching CRA for a ruling, but unsuccessful at this point in time.
Top
moi
Posts: 44
Joined: Sat Aug 13, 2011 9:47 am

Re: Lawsuit settlement payment

Post by moi »

Good news! You can redeposit, a few hoops to go to go through, paperwork required, but it's doable.
Top
Post Reply

Return to “Canada / United States Tax & Accounting”