Personal Finance

gic esculator gic?

  • Last Updated:
  • Feb 9th, 2006 11:15 pm
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Deal Addict
Sep 16, 2005
4899 posts
100 upvotes
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gic esculator gic?

Term deposits and gics are when you put a certain amount of money into something right? And then in the end of the term, you gain a certain % of interest. So you make money.

Whats the difference between GICS and RRSP GICS?
Do the GICS get taxed? So if you make money off GIC and then it gets taxed away, then is it worth doing a GIC?

What is the difference between a regular GIC and an esculator GIC? they grow faster and higher? why is it that they do that?
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Deal Fanatic
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Jul 27, 2004
7557 posts
67 upvotes
everything is taxed, and the escalator means its just taxed more. so insteadof getting a t5 you get whats called a t5 escalator.
Back for a limited engagement.
Deal Addict
Sep 16, 2005
4899 posts
100 upvotes
Local
So, if you make like 20 bucks from a GIC in a whole year, don't you get taxed the 20 dollars and end up with nothing? or is the tax, just a little.

What is the difference between outlooks cashable and esculator GICS?
esculator gics means you can never take money out of a GIC???
Deal Addict
User avatar
Jul 10, 2005
1372 posts
4 upvotes
Nothing is taxed just a little.
What you should do is keep your money under a mattress at home, then you won't get taxed.
Member
Sep 22, 2005
386 posts
1 upvote
d-man wrote:Nothing is taxed just a little.
Yeah, not even patience.

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