Penalty Discussions, Offers & Promotions

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  • Mortgage Penalty and Renewal

    HI All,I'm currently 1 year and 5 months into my 5 year fixed term collateral mortgage 3.49%.Should I pay the penalty and renew at a lower rate now or wait?

    • tt1688
    • May 5th, 2020 10:51 am
    • Forum: Personal Finance

  • Pay off mortgage with no penalty before renewal

    How many months before renewal one can pay off the entire mortgage balance with no penalty?Apparently you have 120 days before renewal to secure a new mortgage term/rate, but how about just paying everything off?

  • RRSP withdrawals and penalty

    RRSP withdrawals and penalty I want to remove 12.5K from RRSP. Not that I require money as I have lots of cash. So tax will be like 2.5K. But I read there is penalty also. Anyone have idea the rate for that? cant find much details. ...

    • callernamet
    • Jan 8th, 2020 9:52 am
    • Forum: Personal Finance

  • Screening request for penalty ticket “P” code issued by city of Mississauga.

    My wife got parking ticket that she parked at owner property w/o permission Oct 25 3:35am! They also want to charge us Administrative penalty as we couldn't pay ticket that we didn't receive (total $80). Neither of us never been at this location ever. I submitted online screening request ...

  • CRA penalty for not filing T5

    Hi, I have a quick question, if I declare dividend income correctly on both the business side paying the dividend and the personal side receiving the dividend, does it matter if an official T5 was never issued? This happened in the first year of business last year. Everything I read is around penalt...

    • sj2222
    • Nov 19th, 2019 2:57 pm
    • Forum: Entrepreneurship & Small Business

  • 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

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