Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

Questions tagged [canada]

For questions that relate to the financial laws, practices, and products of Canada.

For questions that relate to the financial laws, practices, and products of Canada.

1493 questions
50
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11 answers

Is it principled to tip less if a pricey restaurant doesn't accept Visa or Mastercard?

Last month, I spent $230 CAD at a restaurant. Yesterday I spent $150 CAD at another restaurant. Both high-priced restaurants in Toronto accept just cash or debit, no credit. I'm using final prices, after tax and gratuity. I'm just talking about…
user44213
4
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1 answer

Can I use Canada "permanent" postage stamps, usually for lettermail, towards higher postage rates?

For a couple of years, Canada's had "permanent" postage stamps, whereby instead of printing a fixed value in cents on the regular lettermail stamp there is simply the letter "P" for permanent. You used to buy 1 or 2 cent stamps to make up for any…
Chris W. Rea
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1 answer

Can you evade tax by getting employment income just in equity, then using this equity as collateral to take out loan?

I don't get this tax evasion scheme. Can someone explain it? I'm from Toronto, Canada. I don't know if the author had in mind US taxes. Jargo comments on Deutsche Bank and Wall Street banks reportedly just gave Congress thousands of documents…
user44213
2
votes
0 answers

RSP withdrawals and deposits

I’m a senior (66), and I withdrew $20k from my RSP this year. They withheld the tax, but within the year I replaced the $20k. I have the room in my contribution, so will I get all the tax money back, and will my income remain the same? I receive a…
Sheila Mallard
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2
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1 answer

To use a line of credit or withdraw from savings

Good morning, The question is whether we should borrow money on a secure line of credit (already approved), to help a child to buy a home, and then to pay the loan back over time, as quickly as possible. Or, to draw the money out of our investments…
R.F.
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2
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2 answers

For similar index, how do I decide to invest in Canadian or US traded ETF?

What factors must I consider? I know the exchange rate, exchange rate conversion cost, and Level 1 withholding tax. How do I factor them? What are the formulas? I know that I can't predict the future exchange rate but I just want to know…
user40269
2
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2 answers

In Canada, should I report merchant for discounting price if you pay cash and not Credit Card?

While I was paying bill at Chinese restaurant in Toronto, manager told me he discounts 15% my bill if I pay cash, not Mastercard. I told him I didn't see this printed on menu, and he said this is oral special offer. This feels shadey. Is this…
user40269
1
vote
1 answer

Selling my used tires to a Canadian friend?

I am selling my used tires to a Canadian Friend. Do I declare this intent when crossing the bridge and do I pay HST tax at the Bridge?
Tom Salisbury
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0
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1 answer

I have a big negative balance on my credit card

okay so I did some online shopping on my visa and I know I paid off the full amount and it said I had a negative balance I was freaking out I hate being in debt so I kept paying it off I know have a negative balance of -$51,289.20 I used my visa a…
AnnaBanana
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1 answer

BMO Long Federal Bond Index ETF

ZFL.TO BMO Long Federal Bond Index ETF fell to a new record low Friday - is this an indication of a rising interest rate or a declining rate or a steady rate ? It is possible that at the new record low price investors may have bought in and may…
nazirmo
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0
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1 answer

How can Canadians short the UK small cap market without short selling or put options?

My grandparents in Canada transact with Questrade and fancy shorting the FTSE SmallCap Index. EWU (iShares MSCI United Kingdom ETF) and EWUS (iShares MSCI United Kingdom Small-Cap ETF) don't support options, but they would've liked to buy Put…
user10763
0
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1 answer

How can too much clawback tax on OAS benefits be withheld?

Tax Planning for You and Your Family 2019 by KPMG. p 319. 20.3.2 Old Age Security benefits and the OAS clawback OAS benefits are a taxable pension available at age 65. Unlike CPP/QPP payments, which are based on prior contributions, your…
user40527
0
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1 answer

In Canada, do Deposit Institutions pay interest on weekends?

I'm Ontarian. Yes or no for Chequing accounts? Savings accounts? Assume withdrawal can be delayed. If the answer is yes, then smarter to withdraw money on Monday 12:01 AM rather than Friday, right? To profit of the 2 extra days of interest? …
user44213
0
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0 answers

How else can the Canadian government know how much money Canadians have?

My distrust of government is swelling, in light of the SNC-Lavelin scandal. Fortunately, the Statistics Canada paused its plan to obtain banking records. I know that travellers must declare money over $10K to CBSA, and Canadians must file taxes…
user40269