Member Impact Statements

• RK - Age 53 - Nortel
  Assessed $350K in taxes. Handed over all his non-RRSP assets to CRA. Has some deferrals which would take away all RRSP if Nortel is sold
• RV - Age 45 - Entrust
  Assessed $80K in taxes. Cashed in RRSP's and re-mortgaged home
• RM - Age 68 - Nortel
  Using deferral, took shares to avoid options expiring. Owed $40K+ in taxes before the shares were even delivered! Liability now $220k, praying he dies before Nortel is sold! Too old for a mortgage, would have to sell his house or cash $300k of RRSP's
• KH - Age 50 - ACD Systems
  Forced sale due to the company going private triggers a deemed disposition of $1.2M against a "real gain" of $54K. Owes 5X more in tax than received from sale of stock. The Tax on the imaginary proceed will wipe out RRSP and force mortgage. 
• CJ - Age 42 - Entrust
  Single mother of two, recently received a tax bill for $ 50 000, for deferred shares that were sold three years ago at a loss
• CFET - Member Impact Statement
  One members impact statement