Expired Hot Deals

[Various Retailers] Gift Card Deals And Discounts (2019)

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  • Nov 16th, 2020 11:47 am
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jfmartel wrote: Well, combining the GC with the Triangle program, you get an interesting rebate on gas. Plus the cashback from using your CC to buy the GC. You can go about 12-13% saving total.
I'm comparing to previous deals, when we got 10% off. They are trying to rip off the deal.

The gas rewards program is a given, I'm not thinking of that.

Its 10% off the purchase price, versus this deal, which is a bonus on top of your spend. There's a difference.
Some might make the argument that a grocery store is better to purchase these cards, as opposed to Shoppers as well (I am one of those people).
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DaVibe wrote: Edit: Sorry, my math was completely wrong. Here's the updated info

Receiving $325 in gift cards for $300 is a savings of 8.3%
Your math is still wrong LOL. You're saving 7.69% (25/325)
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kiiaal wrote: Your math is still wrong LOL. You're saving 7.69% (25/325)
Do they apply HST on the $325 or $300?
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LongLiveRFD wrote: Do they apply HST on the $325 or $300?
You don't pay tax when you buy gift cards. You pay tax when you USE them to buy taxable products.
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kiiaal wrote: Your math is still wrong LOL. You're saving 7.69% (25/325)
I had that, then I edited it. It depends on what you're doing, plus or minus.
I had it that way and then I changed it.

I figure, you are spending $300 and getting a bonus. A bonus of 8.3% allows for $25
If you say you are getting $325 in product, you need to subtract 7.69% to reach the $300 you paid.

All in all, it's below 10%, which was a previous one, so I'm waiting. I got enough.
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kiiaal wrote: You don't pay tax when you buy gift cards. You pay tax when you USE them to buy taxable products.
So the $25 benefit is taxable at POS: $22.12 in purchasing power

Cash outlay=$300, so ROI = 22.12/300 = 7.37%

This makes things addable i.e. CC rewards and any store loyalties would be calculated on the $300 but tax free.
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LongLiveRFD wrote: So the $25 benefit is taxable at POS: $22.12 in purchasing power

Cash outlay=$300, so ROI = 22.12/300 = 7.37%

This makes things addable i.e. CC rewards and any store loyalties would be calculated on the $300 but tax free.
Again, there's no tax on gift cards, so at no point of the purchase process of the cards, are you paying tax. The benefit is not taxable.
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DaVibe wrote: Again, there's no tax on gift cards, so at no point of the purchase process of the cards, are you paying tax. The benefit is not taxable.
Yes by POS I mean when you spend the GC.

There's no free lunch from CRA. The $25 is HST-taxable.
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LongLiveRFD wrote: Yes by POS I mean when you spend the GC.

There's no free lunch from CRA. The $25 is HST-taxable.
Why are you singling out the $25?

When I purchase $300 in gift cards, I walk away with $325.

If I buy pure groceries at the grocery store, for an amount of $325, I hand over my gift cards and walk away with the groceries (no tax).
If I buy items from a car parts store for the amount of $325, I'm taxed on the whole amount, $325 worth of tax.

The bonus card is no different from the original card that you paid for. An amount you paid, without tax. I don't get the point you are trying to make.
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DaVibe wrote: Why are you singling out the $25?

When I purchase $300 in gift cards, I walk away with $325.

If I buy pure groceries at the grocery store, for an amount of $325, I hand over my gift cards and walk away with the groceries (no tax).
If I buy items from a car parts store for the amount of $325, I'm taxed on the whole amount, $325 worth of tax.

The bonus card is no different from the original card that you paid for. An amount you paid, without tax. I don't get the point you are trying to make.
Cash basis, for calculating total return.

What GC is good for both pure grocery and car parts?
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LongLiveRFD wrote: Cash basis, for calculating total return.

What GC is good for both pure grocery and car parts?
You're effectively getting a $325 gift card. The $300 portion and the $25 portion would be taxed in the same manner during a purchase, as would cash. You effectively save 25/325 = 1/13 = ~7.69%.

The only difference would be any rewards earned by purchasing the gift card itself.
Last edited by pulsedaemon on Aug 20th, 2019 4:25 pm, edited 1 time in total.
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LongLiveRFD wrote: So the $25 benefit is taxable at POS: $22.12 in purchasing power

Cash outlay=$300, so ROI = 22.12/300 = 7.37%

This makes things addable i.e. CC rewards and any store loyalties would be calculated on the $300 but tax free.
LongLiveRFD wrote: Yes by POS I mean when you spend the GC.

There's no free lunch from CRA. The $25 is HST-taxable.
DaVibe wrote: Why are you singling out the $25?

When I purchase $300 in gift cards, I walk away with $325.

If I buy pure groceries at the grocery store, for an amount of $325, I hand over my gift cards and walk away with the groceries (no tax).
If I buy items from a car parts store for the amount of $325, I'm taxed on the whole amount, $325 worth of tax.

The bonus card is no different from the original card that you paid for. An amount you paid, without tax. I don't get the point you are trying to make.
LongLiveRFD wrote: Cash basis, for calculating total return.

What GC is good for both pure grocery and car parts?
Taxes are irrelevant when calculating "percent savings" off purchases.

You're saving 7.69% when you pay $300 for a $325 GC (25/325)

1. You buy $288 in taxable car parts. Total $325 incl 13% HST. You pay using the $325 GCs that you originally paid $300 for. You're saving 7.69% (25/325)
2. You buy $325 in non-taxable product. You pay using the $325 GCs that you originally paid $300 for. You're still saving 7.69% (25/325)

The math is consistent across the board....I just wish the deal was 20% off CT GCs like they had years ago LOL
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pulsedaemon wrote: You're effectively getting a $325 gift card. The $300 portion and the $25 portion would be taxed in the same manner during a purchase, as would cash. You effectively save 25/325 = 1/13 = ~7.69%.

The only difference would be any rewards earned by purchasing the gift card itself.
It would also depend on how you spend the GCs.

If you fuel up CT gas on certain days certain using specific CC/PayTM rewards (non-taxable benefit), the advertized benefit cab be more than $25. Then the better deal would be $300 CT GC and $25 SDM GC. It may even make sense to hoard annually.

Cash is king, so is cash return. And CRA is there to reduce your benefit, not enhance it.
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kiiaal wrote: Taxes are irrelevant when calculating "percent savings" off purchases.

You're saving 7.69% when you pay $300 for a $325 GC (25/325)

1. You buy $288 in taxable car parts. Total $325 incl 13% HST. You pay using the $325 GCs that you originally paid $300 for. You're saving 7.69% (25/325)
2. You buy $325 in non-taxable product. You pay using the $325 GCs that you originally paid $300 for. You're still saving 7.69% (25/325)

The math is consistent across the board....I just wish the deal was 20% off CT GCs like they had years ago LOL
Yes, people spend more and get combo deals with their CT GCs.

Comparing relatively across different stores using nominal numbers doesn't really work. It's really just marketing hype. It's only good comparing to itself and not combining deals.

Someone could put $25 CT GC toward InstantPot when on sale for $50 and only put out $25 more. What's the "percent savings" then? will the store put tax on the discounted or regular price?

If cash is king, cash return is queen.
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