Thank you all for the input.
The one I mentioned was BOM -- looking at the CRA version of the T5008 as haven't got it yet. It's noted as BON (Bond).
(I understand all types of tradable bonds (including strips) get reported even if Proceeds = Cost. They used to sum up total proceeds and total costs on the schedule)
However GICs are not generally tradable ... and are obviously treated differently at a bank.
(All interest for this is reported correctly on a T5)
Noticed that TD has a couple of GICs listed in the trading summary .. tho they don't label that a T5008
Waiting to see what they sent to CRA.
BTW: Asked the question of the CRA on-line chat .... thought for 10 min .. then said sorry don't know ... call in. Typical.
Thx
Search found 114 matches
- 29 Feb 2024 14:02
- Forum: Taxing Situations
- Topic: GIC Taxation
- Replies: 27
- Views: 1771
- 28 Feb 2024 13:14
- Forum: Taxing Situations
- Topic: GIC Taxation
- Replies: 27
- Views: 1771
Re: GIC Taxation
Had a GIC mature in non-registered brokerage account.
Brokerage appears to have submitted a T5008 record for this.
(Interest is, of course, reported via a T5)
So does that mean I have to report the $0 gain on the capital gains schedule - despite the ACB (say 10k) = FMV (10k)
- and I assume that's under the bond section?
I remembered doing this for tradable things like debentures where you bought and sold at same cost, however,
have generally bought GICs via banks and have never needed to report this.
Thx.
Brokerage appears to have submitted a T5008 record for this.
(Interest is, of course, reported via a T5)
So does that mean I have to report the $0 gain on the capital gains schedule - despite the ACB (say 10k) = FMV (10k)
- and I assume that's under the bond section?
I remembered doing this for tradable things like debentures where you bought and sold at same cost, however,
have generally bought GICs via banks and have never needed to report this.
Thx.
- 06 Jul 2022 14:08
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2022) - rates
- Replies: 1006
- Views: 95639
- 12 Jan 2021 17:29
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2021) - rates
- Replies: 402
- Views: 42611
Re: High interest savings, GICs and MMFs (2021) - rates
A very snooty rep did just phone from Tang finally. Total waste of time as had zero interest in any discussion or negotiation. 1.3% it is -- denies any other higher rates - say they went to 1.3% in mid-Dec. (This is on the total amount - 6 figures - tho he didn't mention the 1.75% on new money either). Very unpleasant character - and this is their marketing team???
- 05 Jan 2021 15:58
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2021) - rates
- Replies: 402
- Views: 42611
Re: High interest savings, GICs and MMFs (2021) - rates
It's 1.3% at Tang for 150 days now .. so have taken so its not at 0.1% ... though they will call me back in 2-5 days
We'll see. Have EQ, CTire and Motive accounts.
We'll see. Have EQ, CTire and Motive accounts.
- 11 Oct 2020 16:02
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2020) - rates
- Replies: 787
- Views: 54698
Re: High interest savings, GICs and MMFs (2020) - rates
Motive down to 1.55% from 1.75%
- 14 May 2020 15:04
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Split Preferreds
- Replies: 213
- Views: 51283
Re: Split Preferreds
Thx .. that's kind of what I thought ... could be useful to go from one to another at times.
- 13 May 2020 14:55
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Split Preferreds
- Replies: 213
- Views: 51283
Re: Split Preferreds
Likely should be under taxation but anyway ..
Would a sale of FTN preferreds and a purchase of FFN preferreds within 30 days be a superficial loss? I.E. would you consider them identical properties?
Thx
Would a sale of FTN preferreds and a purchase of FFN preferreds within 30 days be a superficial loss? I.E. would you consider them identical properties?
Thx
- 03 Aug 2018 13:39
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2018)
- Replies: 465
- Views: 47488
Re: High interest rates for savings, GICs and MMFs (2018)
Few moves on savings / TFSA:
Implicity Financial: from 2.00% to 2.15%
Outlook Financial: from 2.00% to 2.15%
Hubert Financial: from 2.10% to 2.35%
Achieva Financial: from 2.00% to 2.15%
Meridian Credit Union: from 1.40% to 1.50%
AcceleRate Financial: from 2.05% to 2.25%
MAXA Financial: from 2.00% to 2.25%
Hubert's GICs have also increased
One to five years: 2.85; 2.70; 2.80; 3.25; 3.35
Previously: 2.55; 2.65; 2.75; 3.25; 3.15
N.B. The 1-year is still the quarterly version (2.7% - 3.0%)
Implicity Financial: from 2.00% to 2.15%
Outlook Financial: from 2.00% to 2.15%
Hubert Financial: from 2.10% to 2.35%
Achieva Financial: from 2.00% to 2.15%
Meridian Credit Union: from 1.40% to 1.50%
AcceleRate Financial: from 2.05% to 2.25%
MAXA Financial: from 2.00% to 2.25%
Hubert's GICs have also increased
One to five years: 2.85; 2.70; 2.80; 3.25; 3.35
Previously: 2.55; 2.65; 2.75; 3.25; 3.15
N.B. The 1-year is still the quarterly version (2.7% - 3.0%)
- 10 Dec 2017 17:20
- Forum: Taxing Situations
- Topic: CRA Refund Cheques
- Replies: 3
- Views: 475
CRA Refund Cheques
Does anyone know if CRA still issues refund cheques? I know they're pushing everyone over to direct deposit. But if you don't fill in the info will they issue a cheque?
I will have to file a final tax return for a non-probate will (all to spouse) and expect a refund.
However, there's no bank account for the estate.
(The particular bank equates estate accounts with probate -- internal nonsense -- but would accept cheques to the estate into the previously existing joint account which will be kept open).
Anyone know.
Thx.
I will have to file a final tax return for a non-probate will (all to spouse) and expect a refund.
However, there's no bank account for the estate.
(The particular bank equates estate accounts with probate -- internal nonsense -- but would accept cheques to the estate into the previously existing joint account which will be kept open).
Anyone know.
Thx.
- 05 Oct 2017 12:41
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: FTN Split Shares
- Replies: 16
- Views: 2165
Re: FTN Split Shares
FYI:
After the recent offering at $9.90 (if you bought the matched units), FTN.PR.A is now trading $10/$10.01.
After the similar offering last night FFN.PR.A is currently $9.98/$9.99.
Possibly interesting chance to get in at or below par without going through the IPOs and getting involved in the capital units.
Both announced increases to their divs from 5.25% to 5.5% (based on $10) starting Dec 1, I believe.
Of course, they could continue to drift lower if interest rates continue to rise.
After the recent offering at $9.90 (if you bought the matched units), FTN.PR.A is now trading $10/$10.01.
After the similar offering last night FFN.PR.A is currently $9.98/$9.99.
Possibly interesting chance to get in at or below par without going through the IPOs and getting involved in the capital units.
Both announced increases to their divs from 5.25% to 5.5% (based on $10) starting Dec 1, I believe.
Of course, they could continue to drift lower if interest rates continue to rise.
- 20 Sep 2017 17:57
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2017)
- Replies: 463
- Views: 46462
Re: High interest rates for savings, GICs and MMFs (2017)
Just noticed Tang have dropped their online daily external transfer out max to 25k from 50k.
Must be noting all the withdrawals at the end of the quarters and want people to phone in before transferring.
Pulls from external accounts are still unlimited at Tang's end apparently.
And they're up to 1.0% interest!
Must be noting all the withdrawals at the end of the quarters and want people to phone in before transferring.
Pulls from external accounts are still unlimited at Tang's end apparently.
And they're up to 1.0% interest!
- 18 Sep 2017 18:06
- Forum: Under the Mattress: Protecting Your Money
- Topic: Equifax security breach
- Replies: 19
- Views: 2006
Re: Equifax security breach
I've had those security alerts on both Equifax and TransUnion since the Home Depot and Peoples Trust events.
They're supposed to last 7 years.
They are there - kind of -- tacked onto a sub-comment on the file.
They don't show up if you're using creditkarma or the like.
When I applied for a CC about 2 years after this, there was no reference to it at all -- no phone calls to check anything unusual -- so I don't know how effective they are.
They're supposed to last 7 years.
They are there - kind of -- tacked onto a sub-comment on the file.
They don't show up if you're using creditkarma or the like.
When I applied for a CC about 2 years after this, there was no reference to it at all -- no phone calls to check anything unusual -- so I don't know how effective they are.
- 07 Jul 2017 09:37
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2017)
- Replies: 463
- Views: 46462
Re: High interest rates for savings, GICs and MMFs (2017)
I noted the same. Is there a way around this - or do you have to fill out paperwork.
Can you change the single account to a joint one after creation?
(Got 3.1% was 2.97%, FM got 2.97% twice)
- 15 Apr 2017 13:12
- Forum: Taxing Situations
- Topic: Hospital Room Upgrade Cost Deductible as Med Exp?
- Replies: 1
- Views: 305
Hospital Room Upgrade Cost Deductible as Med Exp?
Hi. I've seen highly contradictory answers to this.
Had semi-private room in hospital ($240/day) in Ont. Private insurance covered part ($200/day).
Is the remaining portion $40/day billed from the hospital a valid medical expense.
Any informed opinions? Thx
Had semi-private room in hospital ($240/day) in Ont. Private insurance covered part ($200/day).
Is the remaining portion $40/day billed from the hospital a valid medical expense.
Any informed opinions? Thx
- 10 Jan 2017 16:30
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2017)
- Replies: 463
- Views: 46462
Re: High interest rates for savings, GICs and MMFs (2017)
If you accept a phone-in offer (e.g. the 1.6 or 2%) you are very unlikely to receive one of the "special" offers.ig17 wrote:Ditto. Accepted 1.6% on Dec 15, emptied the account a few days later, didn't receive a better offer. I wonder if their system thinks that we are happy with 1.6%. We accepted it, didn't we.
This time I did not accept anything (so stayed at 0.8%) but moved almost all $ out. Got the 2.83% offer on new $ on Jan 5 or 6.
Whenever I previously "negotiated" a rate on the phone I never got the "specials" sent to me.
- 02 Jan 2017 18:32
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2017)
- Replies: 463
- Views: 46462
Re: High interest rates for savings, GICs and MMFs (2017)
Re: Hubert GICs & partial withdrawals.
You don't have to buy 1 big GIC. You could buy 3 or 4 or whatever of whatever individual values you choose.
So you could redeem a small amount (1 GIC) after 90 days if you wish. At least gives you a bit more flexibility if that's important.
I've sometimes also staggered by time -- but if you think rates are going down soon that may not be helpful.
You don't have to buy 1 big GIC. You could buy 3 or 4 or whatever of whatever individual values you choose.
So you could redeem a small amount (1 GIC) after 90 days if you wish. At least gives you a bit more flexibility if that's important.
I've sometimes also staggered by time -- but if you think rates are going down soon that may not be helpful.
- 12 Dec 2016 17:01
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2016)
- Replies: 489
- Views: 45227
Re: High interest rates for savings, GICs and MMFs (2016)
Tang decided to offer only 1.6% -- lowest I can remember -- irritating as others were getting the standard 2.0% (per RFD).
Wasn't in mood to escalate so just said stuff it and told them to withdraw six figures. Enough games.
Wasn't in mood to escalate so just said stuff it and told them to withdraw six figures. Enough games.
- 12 Sep 2016 15:31
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2016)
- Replies: 489
- Views: 45227
Re: High interest rates for savings, GICs and MMFs (2016)
Hmm.. just called Tang to extend my 2% which expired on w/e ... I didn't have an offer or anything .... gave me 2.5% for 3 mos (on whole amount) .... the terms look like they may have been from a targeted offer but gave to me anyway... limit $500k.... that was easy and unexpected.
- 26 Apr 2016 12:26
- Forum: Taxing Situations
- Topic: Spousal RIF withdrawals & subsequent investment attribution
- Replies: 2
- Views: 468
- 25 Apr 2016 10:39
- Forum: Taxing Situations
- Topic: Spousal RIF withdrawals & subsequent investment attribution
- Replies: 2
- Views: 468
Spousal RIF withdrawals & subsequent investment attribution
Hi.
Spouse has been withdrawing minimum amount from Spousal RIF for many years. Husband contributed to the RIF before retirement many years ago. (There's no 3 year rule impact).
She pays the tax for this income as expected.
However once the money is out of the RIF, is there any attribution back to the original contributor (husband) when she now goes to invest these payments? So if she invests say a $10k payment and gets $1k of interest/dividends/whatever -- is that $1k taxable for her or her husband.
Thx
Spouse has been withdrawing minimum amount from Spousal RIF for many years. Husband contributed to the RIF before retirement many years ago. (There's no 3 year rule impact).
She pays the tax for this income as expected.
However once the money is out of the RIF, is there any attribution back to the original contributor (husband) when she now goes to invest these payments? So if she invests say a $10k payment and gets $1k of interest/dividends/whatever -- is that $1k taxable for her or her husband.
Thx
- 08 Mar 2016 14:15
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2016)
- Replies: 489
- Views: 45227
Re: High interest rates for savings, GICs and MMFs (2016)
I have a balance with EQ slightly over 100k -- account opened in Jan so limit should be 500k.
However, their transfer system will not accept anything more - "This will put you over 100k!" comes up immediately.
Edit: Never mind -- sent them a note -- no reply -- but put a 1 in the $ amount - lots of flashing -- no message -- then put in proper amount and it accepted it -- very quirky
However, their transfer system will not accept anything more - "This will put you over 100k!" comes up immediately.
Edit: Never mind -- sent them a note -- no reply -- but put a 1 in the $ amount - lots of flashing -- no message -- then put in proper amount and it accepted it -- very quirky
- 22 Dec 2015 12:04
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2015)
- Replies: 571
- Views: 56249
Re: High interest rates for savings, GICs and MMFs (2015)
Took ages (30 min yest - no answer, 18 min then hangup, 25 min then a person today) to get thru to Tang.
The usual "Oh no - there's no specials" startup. Then I mention offers of 2%, 2.4% and Zag's 2.5%.
Suddenly the 2% for six months (no nasty rules, just a straight rate - max 500k) appeared -- which I took. Asked me to spell "Zag"!
Wasn't going to hunt for this 2.4% thing as I had to remove a large chunk of the current amount.
Funny when he asked me if I wanted to xfer some more funds in and I said no I have to fill up Zag first (from Tang primarily).
Crazy games.
(P.S. I notice the auto-offer GIC for 25K withdrawal is only 1.5%)
The usual "Oh no - there's no specials" startup. Then I mention offers of 2%, 2.4% and Zag's 2.5%.
Suddenly the 2% for six months (no nasty rules, just a straight rate - max 500k) appeared -- which I took. Asked me to spell "Zag"!
Wasn't going to hunt for this 2.4% thing as I had to remove a large chunk of the current amount.
Funny when he asked me if I wanted to xfer some more funds in and I said no I have to fill up Zag first (from Tang primarily).
Crazy games.
(P.S. I notice the auto-offer GIC for 25K withdrawal is only 1.5%)
- 24 Jun 2015 18:14
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest rates for savings, GICs and MMFs (2015)
- Replies: 571
- Views: 56249
Re: High interest rates for savings, GICs and MMFs (2015)
Got the 3% with a little work ("heard from a friend" --> "targeted offer" "know many who have just phoned in" --> "ok") Its for 180 days from when you call -- so if you have the 2.1% deal may (or may not) want to wait a day or two. At this rate, its going to make a mess of promoting TFSAs (for those who use savings accounts or GICs only and not equities) as there's no TFSA rate close. What's the point of using Tang TFSA getting 1.05% when you'll earn more if you withdraw it and get the 3% -- you'll still earn more after tax. Even at other places, depending on your tax rate, you'd need to be up over 2% to make it beneficial (e.g. Zag 2.5%, Peoples 2.25%). For many that's setting up new accts etc. The C...
- 11 Apr 2015 18:57
- Forum: Taxing Situations
- Topic: Attendant Care Expenses
- Replies: 11
- Views: 1674
Re: Attendant Care Expenses
Ok .. just to make this slightly more complicated.
Assuming it is my mum with the DTC plus some attendant care expenses.
My Dad is eligible for DTC but does not claim as claiming large medical expense for nursing home per RC4064.
Is it still ok to put both my mum's and dad's medical expenses on the same (likely my dad's) return as usual -- or does the DTC claim force the med expenses to a particular spouse's return?
Assuming it is my mum with the DTC plus some attendant care expenses.
My Dad is eligible for DTC but does not claim as claiming large medical expense for nursing home per RC4064.
Is it still ok to put both my mum's and dad's medical expenses on the same (likely my dad's) return as usual -- or does the DTC claim force the med expenses to a particular spouse's return?