Our calculator will provide you with the remaining life expectancy of the average Canadian of a particular age and gender, based on the most recent Statistics Canada life expectancy data*.
*Source: Statistics Canada, Life Table for Canada (2016-2018).
Our immediate present value calculator will provide you with the approximate present value of a future stream of $xxx.xx per year, paid monthly, for a given number of years. You will need to select the appropriate discount rate depending on the type of payments (level or indexed) to be made.
For tort claims in Ontario, the discount rate is set annually as per Rule 53.09 of the Ontario Rules of Civil Procedure and is noted as ON in the discount rate drop-down list.
Our deferred present value calculator will provide you with the approximate present value of a future stream of $xxx.xx per year (current dollars), paid monthly, for a given number of years after the deferral period. You will need to select the appropriate discount rate depending on the type of payments (level or indexed) to be made, as well as the length of the deferral period and the payment term.
The Present Value of $2500 per year, paid monthly, for 10 years using a discount rate of 3.00% is $21617.17
Our calculator will provide the current value of a past Court award adjusted for inflation. The current value is calculated using the most recent Consumer Price Index data available. If you are unsure of the month of the Court Award, you can select the Average annual option ("Use Avg. Ann.").
A $ Court award in , adjusted for
inflation*, would be equivalent to $ in
As of July 2016, the Government of Canada has amended the child care benefits available, replacing the existing benefits with the new Canada Child Benefit (CCB).
If you are about to settle your personal injury claim and have children under the age of 18, or may have children in the future, how you invest your settlement dollars today may have a significant impact on your entitlement to the CCB.
Investment income generated from a personal injury settlement, unless placed in a structured settlement, is not only subject to income tax, but may also affect the amount of the CCB you are entitled to receive.
Take the example of a couple with two children under the age of 18, who have combined taxable income of $40,000.00. The table below outlines the impact of income earned from settlement dollars on their entitlement to the CCB and other federal and provincial (Ontario) benefits.
|Investment income earned||Loss in benefits|
As you can see, a personal injury settlement that is invested conventionally, and earns income, could significantly reduce your entitlement to the CCB and other government benefits.
On the other hand, structured settlement payments are not only tax free, they are not included in income at all. They will not decrease your entitlement to these benefits. Your settlement dollars are meant to protect your needs, not reduce your ability to care for your family.
If you have suffered a personal injury, are settling your claim, and may be entitled to the CCB, or other government benefits which are calculated based on income, please contact us so that we can ensure that your personal injury settlement does not reduce your entitlement to these benefits.
The CCB figures provided are calculated using the CRA child and family benefits calculator found here.