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BinRat55 said:Or WHEN the Leafs will win the cup... :cold:
I don't want to wait 5 years for my money. [
BinRat55 said:Or WHEN the Leafs will win the cup... :cold:
Teager said:There's a lot of debate on how it will be calculated. The big problem is VACs example of someone receiving a 25% award would receive a $11000 top up doesn't matter the year you recieved it. No one can figure out how they came to a top up of $11 000 but that's what they are saying.
So BinRat you would be looking at $22 000 total for a top up.
Link for VACs example http://www.veterans.gc.ca/eng/about-us/department-officials/minister/budget/disability-award
I would hope that the way you and Puckchaser are calculating it is correct but VAC has thrown many with there example.
Jarnhamar said:If a member put a VAC claim in in 2016 and he was assessed as 16% (like a 16% injury?) would he receive any extra money for this top up thing?
PuckChaser said:Bear with me, I'm a SigOp not a MathOp but the answer for the VAC example is solveable:
25% of $360K is $90K
$90K minus the $11K topup would be $79K
$79K (being 25% of max payout) times 4, is $316K
$316K is what the max disability rating would have likely been in 2017 with inflation, as $310,378 was the 2016 numbers (It's been going up roughly $6K a year for the past few years).
Someone getting a 25% payout in 2006 would be looking at a topup of $27,500.
. What is your entitlement? (I don't need to know).I have 2x 5% awards
Member or veteran who received disability award
100 (1) The Minister must pay to a member or a veteran who received, in whole or in part, a disability award under section 45, 47 or 48 of the Act before April 1, 2017, and who is alive on April 1, 2017, an amount determined in accordance with the formula
A − B
where
A
is the amount set out in column 3 of Schedule 3 to the Act, as that Schedule read on April 1, 2017, that corresponds to the member’s or veteran’s extent of disability, as set out in column 2, for which the disability award was received, reduced — for every calendar year from 2016 until the year in which the disability award was received — by a percentage calculated in accordance with the method of calculating the percentages by which the amounts set out in Schedule 3 to the Act are periodically adjusted*; and
B
is the amount of the disability award that was payable to the member or the veteran under subsection 52(1) of the Act.
Death of member or veteran before amount paid
(2) If the member or veteran dies before the amount is paid under subsection (1), the Minister must pay that amount, in accordance with section 55 of the Act, to a survivor or a person who was, at the time of the member’s or veteran’s death, a dependent child.
Tilap61 said:Well exemple April 2017 assessed at 15% =$54000 let's say you got your desability payment in 2013. Look at the CPI for
2016= 1.3 so 54000 X 1.3 $702
2015= 1.1x 54000 = $574
2014 = 2.0x 54000 = $1080
2013 = .9 X 54000= $486
Add all the result $2842
Now $54000- $2842 = $51158
So $51158 - whatever you received then 15% in 2013 was $44788 so $51158 -44788= $6370 vice if they would have taken 2017 rate minus 2013 rates then it would have been $9212. Hope it make sense.