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–J
A. I’m sorry to hear about your accident, J. Hopefully the settlement is reasonable.
You mention that your lawyer said a T4A slip will not be issued for the settlement. A T4A tax slip is used to report pension, retirement, annuity and other income. As a rule, I would suggest caution about relying on the lack of a T4A slip as being evidence that an amount is not taxable. For example, self-employed commissions paid to an independent agent should be reported on a T4A slip, but are often not reported—although self-employment income is, of course, taxable. Whether an amount is deposited to a bank account does not impact its taxation, either (for example, cash paid for taxable employment or self-employment).
I am currently dealing with a major Canadian insurance company that incorrectly issued a T4A slip for a client and they have to date refused to change it…
The Best (and Cheapest) Cars to Insure in Canada
– ratesupermarket.ca
Since 2006, the U.S.-based Insurance Institute for Highway Safety (IIHS) has acknowledged the vehicles that perform the best and offer the most protection for occupants at its annual awards. The 2020 Top Safety Picks can help drivers in their car-buying decision by narrowing down the most reliable and dependable vehicles.
The IIHS Top Safety Pick+ Winners for 2020
The IIHS analyzes the top safety picks by testing the crashworthiness as well as crash avoidance and mitigation.
In simple terms:
Crashworthiness: How well a vehicle protects the driver and its occupants.
Crash avoidance and mitigation: The technology that comes standard or that can be added to a vehicle to prevent collisions or lessen the severity of a crash.
The award winners are the vehicles that come equipped with acceptable or good headlights, have advanced or superior crash prevention, as well as good ratings in other areas of vehicle safety like head restraints and roof strength.
Here are the Top Safety Pick+ award winners from the IIHS:
Top safety picks for small to midsize cars
Small car
Midsize car
2020-21 Honda Insight sedan
2020 Mazda 6 sedan
2020 Mazda 3 hatchback
2020 Nissan Maxima sedan
2020 Mazda 3 sedan
2020 Subaru Legacy sedan
2020 Subaru Crosstrek Hybrid wagon
2020 Subaru Outback wagon
2020 Toyota Camry sedan
For a little more style, here are the luxury car selections…
