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Discussion Groups: Shopping in Brandon/Westman


Topic: Co-op Equity Payout
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foxtrot11

8/5/2018 1:59:37 PM
Member since:
Feb 2009
Total posts:2578
Co-op Equity Payout

Going through old threads didn't quite clear up my question.....  
We moved out if province and closed our co-op membership. I was told I would get a cheque to payout our equity this December. Does that mean I will be getting a cheque for the total equity as listed at the bottom of the July statement that was just handed out?  
Minus the withholding tax of course, or do they not hold that when it is a complete payout?  
Thanks for any information!

Fantaone

8/5/2018 2:34:09 PM
Member since:
Sep 2015
Total posts:49
phone coop

If you phone Heritage Coop they will explain it all to you instead of hearing some things that maybe wrong from this post.  
 
There is the admin office in Minnedosa or the Richmond grocery store and ask for the front end manager.

foxtrot11

8/8/2018 3:12:09 AM
Member since:
Feb 2009
Total posts:2578
Anyone

  
Fantaone said "If you phone Heritage Coop they will explain it all to you instead of hearing some things that maybe wrong from this post.  
 
There is the admin office in Minnedosa or the Richmond grocery store and ask for the front end manager. "

Have anything positive and helpful to contibute? I know there are people around there that have done this.....

Fishin Guy

8/8/2018 5:49:02 AM
Member since:
Dec 2005
Total posts:6418
???

Dumb question but getting you to call the admin office for information isn't helpful or positive? Get it straight from the horse's mouth. What happens if you don't get it in December? eBrandon said I would?

Just an opinion

8/8/2018 8:24:55 AM
Member since:
Sep 2008
Total posts:1881
Foxtrot

When my brother got his last year this is what happened.  
They Paid out the accumulated equity less any tax that is payable.  
 
As in previous years you will get a T-slip to file with income tax. Just remember you DO NOT claim the equity as income you only claim taxes paid.

foxtrot11

8/8/2018 8:45:37 AM
Member since:
Feb 2009
Total posts:2578
Thank you, just an opinion

  
Just an opinion said "When my brother got his last year this is what happened.  
They Paid out the accumulated equity less any tax that is payable.  
 
As in previous years you will get a T-slip to file with income tax. Just remember you DO NOT claim the equity as income you only claim taxes paid. "

That is what I asked, I appreciate it.  
 
After two calls to the Brandon customer service, the answer I got was "it gets mailed in December". No date, no amount. Not helpful.  
 
I wanted real world experience which is why I asked here.

JoBeth

8/8/2018 8:49:03 AM
Member since:
May 2008
Total posts:1200
Closed

When my mom passed, I closed her account at the store on Richmond. Believe I filled out some papers and they eventually sent the cheque. Don't recall there being any taxes taken off. I believe it should be the amount on the last statement. Hopefully you will hear soon.

PuddleJumper

8/8/2018 11:16:55 AM
Member since:
Mar 2006
Total posts:131
Co-op Equity

When we left for Winnipeg, I contacted Heritage Co-op to let them know that we had moved out of the trading area. I also closed out our Westman Communications account.  
 
Westman paid out the following month. I believe I had to wait until the next spring for Heritage Co-op (I had missed the cut-off for Dec)  
 
Edited by PuddleJumper, 2018-08-08 11:18:22

RainaRo

8/8/2018 11:20:32 AM
Member since:
Sep 2015
Total posts:503
make sure

Make sure it goes to the proper address. I had mine stolen after I moved to a different city, 3 years later nothing

foxtrot11

8/8/2018 9:40:11 PM
Member since:
Feb 2009
Total posts:2578
Thanks

  
RainaRo said "Make sure it goes to the proper address. I had mine stolen after I moved to a different city, 3 years later nothing "

Yes, they have it. I had completely forgotten about the July payout and was pleasantly surprised to get that huge cheque this week...lol  
Thanks everyone for your input.

 
 
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