Trending Personal Finance Discussion Tags

for

I've heard rumours about people buying a small piece of farmland off rural farmers in Ontario, then using it for tax benefits. The farmer sells a small patch of land, gets immediate cash, and continues to farm it, and keeps and sells the crops.. win-win for both. Anybody heard of this? Is this fake ...

rrsp

In 2017, I quit my job in August and took the rest of the year off, so only had 8 months of income for the year, so at a lower income bracket/marginal tax rate than I have in 2018-2019 with my new job. I have three years 2017-2018-2018 of RRSP HBP "pay down" left, around $5G. I have also contributed...

credit card

... if I can count on the RFD community to set me straight if I'm misunderstanding my most recent Rogers MC bill. - My annual interest rate is 19.99% - My statement balance was $4333.79, due on January 24th - I made an $88 payment that posted January 23 (it was my first payment to this card ...

tax

I've heard rumours about people buying a small piece of farmland off rural farmers in Ontario, then using it for tax benefits. The farmer sells a small patch of land, gets immediate cash, and continues to farm it, and keeps and sells the crops.. win-win for both. Anybody heard of this? Is this fake ...

and

Every year I do my friend’s taxes using ufile. It’s pretty simple...basic income, rrsps and medical. However, last year he purchased a home with one of his siblings. There is no income from this and it is their primary residence. Will this change anything with his taxes? He asked me to do them but I...

to

Hi, I'm renting a room and sharing kitchen and bathroom with the landlord. Usually, this would mean that I would have very limited rights as a lessee, but my tenancy agreement states that it is "made pursuant to the provisions of the residential tenancies act, S.O 2006, Chap 17" Does this mean that ...

personal income tax

I am looking to file my personal income tax the first time this year and I am wondering what free options are out there in terms of software. My tax is pretty simple, just employment income, RRSP contribution, and investment income (T3/T5).

tfsa

I was looking at my 2018 TFSA contribution room and it thinks I still have $11k ($5.5k from 2017 + $5.5k for 2018). The truth is, I maxed out my TFSA already, so I was expecting to see 0 left from 2017, but it still shows I have 5.5k. I used it up in the first few months of 2017, so it wasn't like I...

credit

Credit Karma has switched scoring models today. Instead of the TransRisk (i.e. the same educational score purchasable directly from Trans Union) - they now offer the CreditVision risk score. (The same score that Capital One and RBC provide). This is a good move. This new score is closer to the real ...

the

I was looking at my 2018 TFSA contribution room and it thinks I still have $11k ($5.5k from 2017 + $5.5k for 2018). The truth is, I maxed out my TFSA already, so I was expecting to see 0 left from 2017, but it still shows I have 5.5k. I used it up in the first few months of 2017, so it wasn't like I...

tangerine

Has anyone else had issues with using their Tangerine debit card at Scotiabank ATMs recently? I've been unable to access cash or make any deposits. I'm using the same card and ATM I always have so I thought I may have missed a change in terms of service?

credit cards

As the title mentions, I am planning to go out of Canada for maybe 2 years. I would like be able to use them, when I travel and also keep paying the balance. Has any of you gone through such a situation? How did you handle?

from

By 'best' I mean fewest hassles, least delays, lowest fees etc. I suspect that different services excel at some of these but not at all. It doesn't have to be bank - just reliable and legal. My goal is to wire to an Asian company, a small amount of money (under USD1000), which I will bring in cash t...

pc financial

Long story short, I still have my PC Financial debit card (not a Simplii one) and used the PCF ATM at my local Loblaws and was surprised to see a "$3 Convenience fee" added to my receipt. I honestly don't recall any warning that I would be charged any fees. (unless it was in a small text on screen o...

cra

... cost of tax avoidance The fiscal watchdog has been demanding the data for five years http://www.cbc.ca/news/politics/pbo-data-tax-avoidance-1.4532187 The Trudeau government has been under pressure to allow the budget officer to do a more precise, independent estimate of the tax gap, particularly ...

question

Hello. I am an active stock "trader" who buys and closes many different stocks usually within 1-4 weeks after the position's opened. I only trade American stocks. Taxation regarding stock trading has always been confusing for me, as I've had people tell me that active ...

bank

I have a torn $5 polymer bank note, someone cut the corner of it with the serial number, there should be two and now only one. I tried to deposit it at TD and they wouldn't accept it because one serial number is missing. So I just deposit it at an ATM and see what happens. According to Bank of Canad...

on

I just noticed this now..is it new? I just saw two new buttons on top right of the page when you log into your account. http://i68.tinypic.com/33cxmpj.png I much prefer when I'm not using the app to use list instead of Tile, and I believe a lot of people here didnt like only having Tile view initial...

mortgage

I have always considered my a very responsible person who makes good on debts. I just pulled my credit score, as I am looking at upgrading our house and getting a bigger mortgage. Bitter sweet - I have a FICO sore of 835 but 2 late payments of 30 days from Telus Mobility. It boggles my mind how I co...

taxes

Every year I do my friend’s taxes using ufile. It’s pretty simple...basic income, rrsps and medical. However, last year he purchased a home with one of his siblings. There is no income from this and it is their primary residence. Will this change anything with his taxes? He asked me to do them but I...

fraud

Just got an alert from Credit Karma that Desjardins pulled my credit report. As I have no business with them called them up and we determined that someone had used my identity to open a credit card at The Brick. Promptly closed it so they won't even receive it to their address. They must not have be...

cibc

After signing in to CIBC online I noticed that my account was not available. Call center could not give the reason for that and told that I have to visit a branch! Could this be due to not having done a transaction for long time or maybe not having enough balance to cover the monthly fees? Appreciat...

investing

hello rfd my wife and i are are looking ahead to retirement goals after meeting with a primerica rep here is our situation both 30 years old 2 young kids (3,4) income 130K per year debt 280k for a home equity 140k in our house putting money into a savings account each month putting money into a chil...

money

Sorta like http://forums.redflagdeals.com/depositing-large-amounts-cash-bank-614889/ I've got around 30k in cash and I'm under 18. If I deposit all 30k to one bank, it'll be really suspicious and I'll have to do the CRA forms and such (if its above 10k you have to do a form) What I'm thinking is tha...

credit score

... with my friend that left me questioning whether my current tactic might possibly harm my credit score due to credit utilization ratio. ~10k student loan 18k credit card : 0 balance 5k credit card : 4500 balance (1% interest until october) 10k loc : 0 balance 7k loc : 0 balance No issues ...

financial advice

Hi all, I am in my mid-20s and recently my dad retired and my parents (dad is in 60s, mom late 50s) and younger sibling (24) moved from the Middle East to Canada. As I am the only one working and earning, I have to support them financially and wanted some advice. Hence my post/rant. To give you a br...

debt

... with my friend that left me questioning whether my current tactic might possibly harm my credit score due to credit utilization ratio. ~10k student loan 18k credit card : 0 balance 5k credit card : 4500 balance (1% interest until october) 10k loc : 0 balance 7k loc : 0 balance No issues ...

how

I'm curious to learn how others are planning for retirement, in particular do you have a age in mind of when you want to retire or more specifically when you CAN retire? Would you considering altering your lifestyle (e.g. foregoing some luxuries/pleasures) to retire early? Would you retire from full...

bmo

I got a cheque book from BMO. Im on the verge of writing a cheque for $1,200 to a banquet halll. This 1,200 will be placed on my LOC right? Not taken out of my savings? How much interests does BMO charge every month for a $1,200 personal cheque each month? ...

rbc

... your credit score you pay off the loan. Why? It is because the way they set up the loan and how they report to Equifax. This loan will always show 100% utilization of debt even though you keep paying the monthly repay amount along with interest. Debt utilization is the second biggest factor negatively ...