What is the effect of income tax on the value of a pension in a personal injury case?
British Columbia, Canada
The following excerpt is from Campbell v. McRudden, 2001 BCSC 529 (CanLII):
The more serious issue with respect to the plaintiff’s pension, is the method by which its value was calculated. In support of her position, plaintiff’s counsel cited Park v. Park, 2000 BCCA 92. In Park, Madam Justice Southin for a unanimous court held that the amount of income tax may be taken into account when calculating a compensation payment to a spouse in satisfaction of part or all of the spouse’s interest in the pension. In that case, the pension was a matured pension in a local plan.
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