ask help in tax - Notel check

[FromVancouver]

Thanks in advance for your answering my question if you know!

As most people knew in Ottawa, In 2008, I received a check (about $2000) paid from Notel because of their account scandal in 2002-2003. Is it captital gain? or income like interest?
I still had $15,000 captical lose credit (lost $30,000 in Notel, a poor stock).

New friend

 

[风 雨]

A reasonable approach would be using the compensation payment to reduce your capital loss amount.

However, it's better to consult a tax expert to confirm or call CRA directly to ask for their direction.

 

[linping_shen]

Does anybody get check if he has Nortel stock? If so, could you let us know how to get it? Thanks!

 

[FromVancouver]

Does anybody get check if he has Nortel stock? If so, could you let us know how to get it? Thanks!

There were two lawsuits against Notel, and there is certain conditions for each casem such as, u had transaction in certain time frame. Also u have to submit the claim form years ago. I believe u may pass the deadline for claim even if u meet the requirement. but mostly u didnot meet, otherwise, u should receicve the letter. That is not the money for you.