Use postdated transactions and then you can safely forget When we receive our notices, I set postdated transactions for the next two dates and then I don't have to worry about them any further.
Tax Instalments
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Re: Tax Instalments
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Re: Tax Instalments
Yes, I could do that but would also have to post date a transfer into the bank account as I generally don’t keep enough in my chequing account to cover a tax instalment. Not sure I can post date a transfer? Probably?Peculiar_Investor wrote: ↑15 Dec 2017 10:17Use postdated transactions and then you can safely forget When we receive our notices, I set postdated transactions for the next two dates and then I don't have to worry about them any further.
Re: Tax Instalments
You can most certainly postdate a transfer.SQRT wrote: ↑15 Dec 2017 10:20Yes, I could do that but would also have to post date a transfer into the bank account as I generally don’t keep enough in my chequing account to cover a tax instalment. Not sure I can post date a transfer? Probably?Peculiar_Investor wrote: ↑15 Dec 2017 10:17Use postdated transactions and then you can safely forget When we receive our notices, I set postdated transactions for the next two dates and then I don't have to worry about them any further.
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“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
Re: Tax Instalments
adrian2 wrote
es,he is right. Even klutz like me does that. I post dated transfers from one bank account to another and then the tax payments to CRA and The Quebec Ministere. I do this with CIBC.ou can most certainly postdate a transfer.
Re: Tax Instalments
Yup. Once I get the government's demand for quarterlies, I set up the bill payments to look after them. Then the only thing I have to attend to is having enough cash in the accounts to cover them. But I also have overdraft protection in case I am not sufficiently liquid at the time.Peculiar_Investor wrote: ↑15 Dec 2017 10:17Use postdated transactions and then you can safely forget When we receive our notices, I set postdated transactions for the next two dates and then I don't have to worry about them any further.
For the fun of it...Keith
Re: Tax Instalments
I don't think one can post-date transfers at TD?
Closest I can find is bill payments to a personal payee - so maybe one could set-up oneself as a personal payee?
Closest I can find is bill payments to a personal payee - so maybe one could set-up oneself as a personal payee?
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Tax Instalments
Yes you can set up bill payments to several accounts. Just pay attention to their descriptions. You can also set up payments to other brokerages.
I paid my Dad's utilities in his final years, including his cottage in northern Ontario...
I paid my Dad's utilities in his final years, including his cottage in northern Ontario...
For the fun of it...Keith
Re: Tax Instalments
Gonna have to bite. I don't see anywhere in the process of creating a transfer that a date can be input? This is what I see:
From account
To account
Amount
New screen
Confirm
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Tax Instalments
At CIBC, I select all kinds of payees. CRA, Ministere du Revenu, Costco, Belair Direct. Visa, a frien. Then I go to pay bills and select a payee, put in the date and the amount and submit. That's it.
Re: Tax Instalments
The discussion is not about bill payments to others, it is about transfers between one's own accounts ...
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Tax Instalments
Screenshot from Simplii:
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“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
Re: Tax Instalments
Simplii is still doing what PC Financial used to do. Scotiabank also allows one to date transfers between one's own accounts, and to do it once, or on a recurring basis. I set up dated transfers when I think it makes sense to do so. Some posts here are confusing account transfer processes with Bill Payment proessses.
I can't imagine the green machine not having this feature.
I can't imagine the green machine not having this feature.
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Re: Tax Instalments
I meant TD not having account to account transfers, not Bill Payments. I believe SQRT was complaining about not having scheduled account to account transfers to make sure money was in his account before a Bill Payment is made.
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Re: Tax Instalments
OK. The thread is about tax installments - just wanted to clarify.
Re: Tax Instalments
Yes it is amazing how much the green has fallen behind in banking convenience features. No date driven money transfers between accounts nor for interac e-transfers. And with the limits on daily, weekly and monthly amounts for e-transfers, this is a serious limitation. For accounts, it just increases the onus/workload for cash management.
For the fun of it...Keith
Re: Tax Instalments
But it doesn't! Just for certainty, I've sent a Q to TD's help desk. I'll post the answer, in due course.
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Tax Instalments
Yep, I goofed. I was thinking of paying CRA, not myself. The odd time I need a transfer reminder, I put it into my calendar - but in general I transfer enough money, if any is needed, at the first of the month, to handle that month's charges.
Re: Tax Instalments
As originally posted .TD Helps wrote:While you can make post-dated bill payments within EasyWeb, it's not currently possible to set up a post dated transfer using the EasyWeb transfer feature. However, you may set up a "Personal Payee" to another TD account. This will allow you to use the bill payment system to post date your transfer. To set up a Personal Payee (that will show up on your list of payees in EasyWeb) you'll need to give us a call at 1-866-222-3456.
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Tax Instalments
I transfer money between accounts at CIBC regularly. Plus I can post date the transfer.
Re: Tax Instalments
If banks remove the distinction between savings and chequing account, none of these are a problem. I cannot imagine that a banking system cannot be configured to use savings account to pay bills, or to set a decent interest rate on a chequing account.kcowan wrote: ↑19 Dec 2017 12:38Yes it is amazing how much the green has fallen behind in banking convenience features. No date driven money transfers between accounts nor for interac e-transfers. And with the limits on daily, weekly and monthly amounts for e-transfers, this is a serious limitation. For accounts, it just increases the onus/workload for cash management.
I am cautiously optimistic. When it goes up, I claim I have been optimistic; when it goes down, I claim I have been cautious.
Re: Tax Instalments
So I think, with all this discussion, there is really no likelihood of me ever setting up CRA instalments and then “forgetting” about them. The instalments can be pretty big (mid 5 figures) and there is no way I wouldn’t be checking the system before each payment date to make sure they were set up. So I’ll just carry on.
Re: Tax Instalments
It's kinda sad how poorly-served we are by the big banks .
My mother's bank in the UK, Barclays, has auto-transfers that can be triggered by both low and high thresholds to move money between any of her accounts. Provided there's enough money _somewhere_, no bill would go unpaid, or create a debit balance. And with no fees .
My mother's bank in the UK, Barclays, has auto-transfers that can be triggered by both low and high thresholds to move money between any of her accounts. Provided there's enough money _somewhere_, no bill would go unpaid, or create a debit balance. And with no fees .
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Tax Instalments
Even here in Mexico, you can transfer money to anyone that has an account in a Mexican bank. I pay my property and car insurance and my property manager that way. It is much more secure that an email transfer! And it is free.
For the fun of it...Keith