OETC
Hookersandblow: What forms are you referring to (for submission by 1 Feb)?
By the way, I don't think CHC has been all that forthcoming in explaining the reason that Canadian employees are no longer eligible for OETC. Here's how CHC explained the situation in a letter sent to employees. "Contrary to our earlier understanding, subsequent tax advice has revealed that the sale of CHC to a US entity has resulted in the loss of the OETC for employees as of 01 Jan 09". So how could this be?? After the sale of CHC to First Reserve, CHC came out with an official statement to employees in early 2009 confirming that they had conferred with Revenue Canada and there would be no change in OETC eligibility. So what has changed? What 'tax advice' is CHC speaking about? The details are scarce and the 'Tax Equalization" staff at CHC are tight lipped about this and have done nothing but stonewall employees who left in 2009. So I called the Revenue Canada agent that signed my OETC approval letter in Feb 09 and asked him for clarification regarding the lost OETC. He had no idea why CHC was saying that employees were no longer eligible for OETC. He said that there was no ruling/decision made by Revenue Canada that would change our eligibility. Hmmmmm.....
Could it be that CHC has reviewed their corporate tax strategy and determined that there is a more beneficial way to file taxes than originally intended, or perhaps as always intended, but never disclosed to revenue Canada (i.e, Revenue Canada loses out and Uncle Sam gains). This could explain CHC's announcement on OETC reversal, knowing that Revenue Canada will not honor OETC claims for 09 once they realize Uncle Sam is getting all the tax revenue. Yet CHC sent out confirmation to all affected employees early in 09 to reassure us that the OETC was protected. Now this. A loss of $1500 - $2000 for each month that former CHC employees worked for the company in 09. Regardless of whether the above spin proves to be true, CHC assured employees that the OETC would be in place for 09. Despite this reassurance, it looks like they will screw all the employees who left or were laid off in 09. A little short-sighted perhaps, especially when the offshore market ramps up a notch and CHC goes looking for talent. Good luck with that!