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  • Accountant incompetence, heavy penalty by CRA

    My accountant failed to file my GST/HST return for 2018 and I was dinged 1200$ in penalties by CRA. How do I recover the penalty I paid to CRA for the accountant's incompetence, are there any legal grounds on which I can claim back those funds? I wish I could disclose his firm's name ...

    • jadoogar
    • Aug 17th, 2019 12:12 am
    • Forum: Personal Finance

  • Lower penalty vs lower rate

    ... here. I am exploring my mortgage options. I narrow down to two options 1. Brokers I trust offer 2.79, 5 years fixed from non-banks (MCAP). The penalty for breaking the mortgage is low. 2. A major bank that I have relationships with offers 2.69, 5 years fixed, but the penalty is steep. I am ...

    • ffsmaster
    • Aug 14th, 2019 11:47 am
    • Forum: Real Estate

  • TFSA Over-contribution Penalty

    ... (the company he had shares in) in end of 2017 with essentially a balance of 0. In 2018 he gets a letter from CRA for overcontribution citing penalty of $4000. He pays this penalty. in 2019 he again gets a letter from CRA that he owes $8000 in penalty for overcontribution. Now the question ...

    • masarwar
    • Aug 9th, 2019 6:07 pm
    • Forum: Personal Finance

  • CRA reassessment without penalty

    A few months ago I noticed that I had forgotten to include a small amount of business income in my 2017 tax return. It was about $3000. A tax lawyer advised me to simply adjust my return for that year. Given that worst penalties outweighed the costs of doing a formal VDP, and that the chance of a cr...

    • bobz11
    • Mar 3rd, 2019 5:41 pm
    • Forum: Personal Finance

  • CRA penalty for being classified as an employee vs. contractor

    I pondering an employment opportunity with a marketing agency in Japan. I'm a Canadian citizen, living in Canada. (Note: This is through a trusted friend with whom I worked previously while living in the country.) This isn't a part-time thing, I'd be doing it as my main job and depending on it as a ...

    • Catullus
    • Feb 7th, 2019 1:16 pm
    • Forum: Entrepreneurship & Small Business

  • How to minimise breaking variable mortgage penalty ?

    Hi , My mortgage is up on renewal in March next year , and I am planning to sell my home in June next year . Could someone suggest how can I minimise my early termination of mortgage penalty ?Thanks

    • stevesingh
    • Nov 28th, 2018 9:46 am
    • Forum: Real Estate

  • Toronto - Nov 30. The Penalty screening @ Carlton Cinema

    https://www.eventbrite.ca/e/the-penalty-documentary-canadian-premiere-toronto-c4l-event-2018-tickets-52509908550?aff=ebdssbdestsearch

    • sprung
    • Nov 21st, 2018 7:34 am
    • Forum: Expired Freebies

  • There is a penalty if you file tax late and has T1135?

    ... tax late (with T1135), they penalized me with $2500 + $68.30 interest despite I got a refund with my tax :(. has anyone gotten hit with similar penalty before and if there is anyway to appeal or reduce the penalty? I hold some U.S. stocks in non-registered account and they just went over $100K ...

    • mkl38s
    • Oct 19th, 2018 6:55 pm
    • Forum: Personal Finance

  • Pay off mortgage balance - best solution with least penalty

    ... rate: 2.59% (5-year fixed) Maturity date: May 28, 2020 Questions: 1) If I am able to pay off my mortgage balance in full today, what would be the penalty cost if I were to do this? 2) If I wait until the maturity date, can I pay off the mortgage balance in full without any penalties? Basically, ...

    • kingtosh82
    • Aug 23rd, 2018 7:24 pm
    • Forum: Real Estate

  • Thread crapping penalty

    Hi, what is the penalty for thread crapping? How many infractions before I am put in handcuffs?

    • Becks
    • Aug 4th, 2018 5:23 pm
    • Forum: Site Comments & Suggestions

  • What's the Penalty for Not Paying Parks Canada Fee

    ... at 16:30 to stretch my legs at Fundy seemed a bit rich to me (after paying $6 to watch the fog at non federal park Cap Enrage). But what is the penalty if you get caught avoiding the fee? By the way, kids under 18 can legally visit federal parks for free this year. According to the Trudeau government, ...

    • MonctonMan
    • Jul 25th, 2018 11:59 pm
    • Forum: Travel

  • Penalty for paying off 0% auto loan?

    ... than continue to lend money for free? I also wonder if, to get around it, I should prepay everything minus one payment since it seems there's no penalty for prepaying except to prepay the whole thing, then let the last payment come through as usual? TIA

    • DKaz
    • Jun 6th, 2018 11:21 pm
    • Forum: Personal Finance

  • Question: Paid penalty to CRA, where do I report the amount in T2?

    I know the penalty is not tax deductible, but it's still business expense, right? Or the employee (me) need to pay it personally because I was not doing things right? Where should I record it in accounting purpose?

    • zhaiming97
    • Apr 28th, 2018 12:26 pm
    • Forum: Entrepreneurship & Small Business

  • Penalty Box

    I was told this was suppose to end April 14th...Mods???

    • EP32k2
    • Apr 16th, 2018 5:11 pm
    • Forum: Site Comments & Suggestions

  • Penalty notice/Parking ticket at Chingucousy Wellness center

    Did anyone hear of getting Parking ticket/Penalty notice at the Chingucousy wellness center at the Brampton? An out of town friend parked their car there. When they returned found the ticket on the windshield from the City of Brampton! I have never heard of that.

    • AnitaTh
    • Mar 21st, 2018 2:16 pm
    • Forum: Automotive

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