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  • TFSA unqualified investment penalty - how exactly does it work?

    ... go back up to $8, especially after if its app is allowed to be downloaded again. I googled TFSA unqualified investment, turns out there is a huge penalty, but could be waived. So, I plan to appeal when they give me the penalty. but I want to keep it at the account until I can sell it at $8. but ...

  • Is this wording legal in a quote/contract? Penalty for late delivery terms

    ... by the date, and only said they can so that I order from them instead of a different supplier, we verbally agreed over the phone to have a penalty for delays. In the payment terms, I added a clause stating that there will be a 10k penalty per week of delay, which was agreed to. However ...

    • aaaaaaaa
    • Nov 24th, 2022 2:57 pm
    • Forum: Entrepreneurship & Small Business

  • Mortgage prepayment penalty tax deductible?

    Any difference for primary residence vs rental properties on mortgage prepayment penalty?Not tax deductible at all?

    • Rabbit2k18
    • Sep 20th, 2022 12:59 pm
    • Forum: Real Estate

  • mortage: determining approximate penalty

    $244000 remaining 2.94% Maturity Jun 1 2024 Term 60 Months Fixed Closed I'm with EQ Bank. Anyone know if there's a way to approximate how much penalty I'll be paying if I sell the house? I guess I'll call on Monday when they open to find out but I figure someone has an idea. I am unsure if my ...

    • Seks
    • Jul 9th, 2022 1:42 pm
    • Forum: Real Estate

  • CRA late fee penalty 2021

    Hello all, looking for some advice on what to do with CRA. I incorporated last year and in setting up payroll and paying taxes to CRA my payments seemed to have been allocated incorrectly and as such, incurred late penalties. I had submitted payroll for Nov 2021 before Dec 15, 2021, and I submitted ...

    • nezura
    • Jun 20th, 2022 11:20 pm
    • Forum: Entrepreneurship & Small Business

  • Calculator given from bank for mortgage break penalty how to fill in?

    ... to figure this out as i want to get out now. Its from Envision. We owe Owe 387,000 4 year into a 5 fixed. They said “it would just highlight the penalty would be either 3 months interest or the interest differential whichever is greater. The actual penalty amount is quoted on the current date ...

    • Dejavudiva
    • Jan 5th, 2022 9:41 am
    • Forum: Real Estate

  • Any penalty if paying off before end of fixed term?

    Hello! Not sure if asked already but is there any penalty if one is able to pay off before 5 year fixed term? (Regular 5 year fixed with one of big banks) while just leveraging 20/20 options to help expedite payment? Since they allow you up to 20% ...

    • azybcxrfd
    • Jan 1st, 2022 11:23 am
    • Forum: Real Estate

  • Mortgage Break Penalty Calculation (Scotiabank)

    Hello, a friend broke his closed fixed 5 year mortgage with Scotiabank, which triggered a penalty. OK. However, my friend feels that Scotiabank overcharged him on the penalty, by a lot. I instructed him not to tell me the amount he was actually charged, so that I can ...

    • sokolov
    • Dec 27th, 2021 3:26 pm
    • Forum: Real Estate

  • CRA - Late filing penalty and interest charges

    Even though CRA clearly mentioned that there will be no late filing penalty, they still went ahead and charged me penalty plus interest amount. When I protested, the CRA rep told me to pay first and ask questions later ....... So, does anyone here have any ...

    • luking
    • Oct 9th, 2021 7:07 pm
    • Forum: Personal Finance

  • Scotia Mortgage Break Penalty Calculate

    I am in a position to pay of a mortgage I just blended and extended June 4. I am going to call them tomorrow to see what the penalty will be but was wondering if anyone here would have an idea... 572000.00 left owning at 2.83. 5 years fixed with 4 years 9 months on the term. I am thinking ...

    • Kamloops
    • Sep 27th, 2021 12:35 am
    • Forum: Real Estate

  • mortgage: pay penalty and get a lower rate?

    ... with them. Rate with Desjardins are 5 years fixed: 1.24% 5 years protected variable: 1.7% (cannot go beyond 2,74%). 5 yrs variable: 1,45% So the penalty - the savings with 5 yrs fixed = -1 064$. Additionnal informations: Initial house price: 580 k$ in mid-June 2018 (hard to say but my guess for ...

    • SPARTACVS
    • Sep 23rd, 2021 9:44 pm
    • Forum: Real Estate

  • Variable Rates IRD Penalty

    I’m about to finish my 5 year fixed rate at CIBC and I’m going to shop around…I asked my financial advisor over there and asked what would be the penalty if I went with 5 year flex variable and he said it’s either 3 month interest penalty or ird(interest rate differential)… I always thought variable ...

    • juve4lfe
    • Aug 21st, 2021 5:07 am
    • Forum: Real Estate

  • CRA Penalty - Has Anyone Had This Waived?

    ... who was late to file 2019 taxes. She had paid 2/3 in 2019 and was owing another 1/3 which she plans to pay this year. She now has a late filing penalty of approx $2000 and about $700 in accrued interest. With covid last year, she didn't have time to file due to working + homeschooling kids. ...

    • Acheewawa
    • Aug 19th, 2021 5:15 pm
    • Forum: Personal Finance

  • Decision Required - Remain with fixed rate or pay penalty and move to variable rate

    Here's the situation I'm confronted with: - Currently have about 3.5 years remaining on a fixed rate at 2.24% - Have the option to pay a penalty of $5500 to renew this into new 5 year variable rate mortgage currently at 1.40% (Prime minus 1.05%) I've read that the Bank of Canada is forecasted ...

  • What is the penalty for not withdrawing the annual minimum on a RRIF

    If there was a mistake and the amount withdrawn was less than the government mandated minimum for the person's age what is the penalty?

    • Quentin5
    • Mar 12th, 2021 1:55 am
    • Forum: Investing

  • 3-months interest penalty calculation for variable

    Just as an FYI, I'm not sure this is widely known, but if you're going variable, you should check how the lender calculates the 3-month interest penalty on a variable rate mortgage. I was reading my CIBC mortgage documents today and discovered that CIBC calculates the 3 month interest penalty ...

    • ozzie16
    • Feb 12th, 2021 5:35 pm
    • Forum: Real Estate

  • Telus penalty for breaking contract

    ... phone balance left $375.75. I understand that if I switch provider at this time, I will have to pay this amount to Telus. Will there be any other penalty also?

    • tor1deal
    • Feb 6th, 2021 6:54 pm
    • Forum: Cell Phones

  • Banks Mortgage High Pre-payment penalties --- Yet to find a way to fight them

    I have a 610k fixed mortgage with 30 months left. I was told by Scotiabank that the penalty to pay off the mortgage will $10k on Dec 22 2020, Scotia bank can’t issue payout 15 days before the closing day and the penalty went up to $15k on Jan 16th and on Jan 19th2021 ...

    • nyliquidpk
    • Jan 21st, 2021 1:45 pm
    • Forum: Real Estate

  • Scotia minimum mortgage penalty

    ... say you have a mortgage that is mostly paid off, and you want to pay the remainder off early. Is there a threshold were Scotiabank will wave the penalty? Would they collect a penalty of $20? $100? Also, I was wondering how the penalty is calculated exactly. For example, many Scotia mortgage clients ...

    • sokolov
    • Dec 19th, 2020 9:23 pm
    • Forum: Real Estate

  • Scotiabank is lying on the penalty to break mortgage

    ... 2.99% fixed rate mortgage with Scotiabank. Given the rates out there, I thought I'd start looking into breaking the mortgage and paying the penalty. My issue is the following: our contract with them (signed) indicates 2.99% rate with a discount of 0.35%. But they are saying the discount ...

    • Bryan2B
    • Dec 17th, 2020 6:35 pm
    • Forum: Real Estate

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