Quantcast
Channel: RedFlagDeals.com Forums - Personal Finance
Viewing all 25264 articles
Browse latest View live
↧

Mortgage overlapping for a week

March 21, 2014, 3:11 pm
$
0
0
I have sold my condo, and am planning on moving in to a new one in a couple of months.

I will take posession of the new one a week before my current condo is no longer mine. So ill technically have 2 condos in my possession for that 1 week.

Whats the deal with mortgages for this. Im hoping to get an extra 100k to borrow for the new condos mortgage. Not sure if i would have to sign on to a brand new mortgage for that new increased 100k, and if it will present problems?

Just wondering how this works as im sure lots of situations have the mortgages from old house and new house overlapping.
↧
Search

Questrade Advantage

March 21, 2014, 4:02 pm
$
0
0
To all the Questrade users here, do any of you have the Advanced Market Data for $80 a month? If so or to those who don't have it, do you think this is worth it? I want it so that it would lower the costs down for option trading to $6.95.

I know other brokers such as IB is lower but they don't have registered accounts
↧
↧

Election from personal residence to rental

March 21, 2014, 6:25 pm
$
0
0
Any tax experts here?

I made an Election letter to Maintain Principal Residence after Change in Use from Principal Residence to Income Producing – Subsection 45(2). I hired an accountant to write me up a letter. I mailed this back in July 2013 when I left Canada and received some stupid form called T2091 to send in with my tax return.

Upon calling CRA and got transferred to 4 different departments I was told that this form is for people who actually sold their property to calculate capital gains. So apparently I was supposed to sent the above letter informing them of change of use attached with my 2013 tax return and not before. The agent suggested to send this letter again with a note I netfiled the return, am I in another country and could not physically attach the election letter.

I am basically asking if this is the correct procedure and what note should I write to CRA because they are obviously confused (or it's me?)

Any tips are appreciated.
↧

Scotiabank did not disburse mortgage funds

March 21, 2014, 6:51 pm
$
0
0
I'm writing this on behalf of my parents both of whom have reached retirement.

My parents currently have a mortgage with Scotiabank. My dad had a car loan with RBC. They decided to get another mortgage with Scotiabank (total equity plan) and pay off the RBC loan (which were being paid from his business account).

Scotiabank created the additional mortgage and sent a cheque to RBC to clear the loan.

This was 3 years ago. RBC never received the cheque. And my parents have been paying for the mortgage and also the loan. My dad didn't notice on his company account that the payments were still going to RBC.

We noticed this about 1-2 months ago and have been trying to fix the issue (yes it unbelievable how long it takes for the banks to 'talk' to each other). The latest, is that Scotiabank says they sent the cheque to RBC by regular mail (yes thats right, no tracking).

They said they are only willing to credit back ONE month of interest of the RBC loan. They also want to send the full cheque amount to RBC which makes no sense since there is only a few months left on the loan, so in that case, RBC would then need to send my parents a refund cheque.

What do you think our options are here? My parents have pretty much been paying towards a second mortgage which was not put towards the car.
↧

want to get rid of bell home phone

March 21, 2014, 7:10 pm
$
0
0
Please what are reliable voip alternatives? To be able to receive calls on a landline.
↧
↧

Claiming withholding tax

March 21, 2014, 7:50 pm
$
0
0
Incidental to my findings in this thread:

http://forums.redflagdeals.com/inter...issue-1462182/

I would like to know where I claim a refund of Canadian withholding tax already paid on my tax return.

I am putzing around in TurboTax, and can't find anywhere to include it, either as an addition to a T-Slip, or on a line.

Certainly withholding tax taken from my investments and other income, is a refundable tax credit against the rest of my tax liability, and refundable if I do not otherwise owe any tax.

Any ideas?
↧

mbna cash back mastercard

March 21, 2014, 8:36 pm
$
0
0
Are you happy with it? Do you recommend it?
↧

Td travel reward balance is negative

March 22, 2014, 5:58 am
$
0
0
I had 60,032 points balance on my td rewards. Redeemed 60,000 points for 300$ statement credit. Now my points balance is -868.

If I switch from my travel infinite to aeroplan, will they recover negative point balance by deducting equivalent $ balance from credit card?

I also got 4000 bonus points for adding authorized user - I'm cancelling authorized user card now after 1 month. I don't exactly remember terms and conditions for these additional points , don't see those terms anymore - if they deduct those 4000 points, my balance will further go down.
↧
Search

Is there such a thing as a e-minis on Russian or Chinese market index futures?

March 22, 2014, 8:02 am
$
0
0
Reading how the Russian and Chinese stock market indices are hitting 5-6 year lows, is there a way to participate in a market rebound without being too leveraged (so time is on our side) and without actually having to hold a basket of securities? I'd be interested more in e-minis on futures contracts that only bet on the index nominal value similar to this:

http://www.investopedia.com/universi...expiration.asp

If such e-minis exist, what kind of monthly roll-over costs would be experienced by these securities?
↧
↧

Single income families.. getting by

March 22, 2014, 8:05 am
$
0
0
anyone here a single income family? if so, are there any benefits you receive other than income splitting? and is this only for single-income families with children?

re: my situation, i am the only person who works, my significant other has not had a proper job... ever. i am in my late 20s now, but not sure if we can survive on my income in the future, especially with my mother ageing and she doesn't have any pension or anything so i will have to start providing for her as well.


i am rather new to this topic, don't know anything about measures supporting families given that it never applied to me.. which might change in the future. thanks in advance
↧

Capital One Aspire vs. Amex Blue Sky

March 22, 2014, 8:38 am
$
0
0
So I want to get a travel rewards credit card. Currently I only have one credit card - the mbna smart cash. I want a travel rewards card with no annual fee to use as my main card. Between the two I listed, which one do you guys think is better? I'm torn because I like the benefits that American Express provides but at the same time, it is accepted in less places. As far as the actual cards are concerned, they seem to be pretty much the same in terms of rewards..?
↧

Borrowing to Invest - HELOC/Prime Rate vs. Overnight Rate

March 22, 2014, 11:04 am
$
0
0
Hi everyone - I'm thinking about borrowing on margin to invest in some more Vanguard ETFs.

I have an account with IB and noticed their borrowing costs are very low, based off of LIBOR/Overnight Rate. For example, to borrow 100K USD, they charge only 1.58% and it only decreases from there. For CAD, they only charge 2.5%.
https://www.interactivebrokers.com/e...st&p=schedule2

Conversely, HELOC rates are based off the prime rate and are around 3.5% for CAD at P+0.5.
http://www.ratehub.ca/best-mortgage-rates/heloc

Wouldn't it make more sense for people to borrow with IB instead of take out a HELOC (a la Smith Manuevre)?
The cost to borrow seems like it's much lower with IB. Interest is tax-deductible in both cases although I imagine the maximum amount that you can borrow under IB would be less due to stricter margin requirements.

Am I missing something?
↧

Working for a US based company

March 22, 2014, 12:39 pm
$
0
0
If i work as a freelancer graphist for a US based company, what are the consequences for the taxes?

Thanks for your help.
↧
↧

Anyone still not get T5 from PCF?

March 22, 2014, 1:48 pm
$
0
0
Called PC Financial today and they said they started to send out late Feb,but I still didn't get it and they said they don't know whether my mail is sent out or not.

Anyone else have same situation?

Thanks
↧

Bear Market Of 2014-2017

March 22, 2014, 2:06 pm
↧
Search

Scotiabank Backitem Inquiry Fee ?

March 22, 2014, 2:29 pm
$
0
0
I was charged $1.00 for a Backitem Inquiry Fee, anybody know what its for?
Checked online but couldn't find anything...

Update
Called Scotiabank and got the fee waved but they didn't know what the charge was for,
↧

TD unsecured line of credit - 3.5%?

March 23, 2014, 3:45 am
$
0
0
So I have been using my TD unsecured line for 10+ years as my bank account, meaning the balance is usually 'overpaid' (negative). Sometimes the balance goes slightly positive due to timing issues in my cash flow, but I never pay more than a dollar in interest in a month, usually nothing at all. I happened to notice last week that the interest rate is showing at 3.5%! I know for sure that for years it was Prime +2.75 or something like that, and I can't say I've really looked at the rate in a long time, so not sure how long it has been showing as 3.5%. I checked again today, as I thought it was a glitch, but same.

This is crazy low, right? I know my HELOC (secured by my house) is at Prime +1, or 4%. Has anyone else seen rates like this on an unsecured line before? Did TD just drop it because I have good credit or lots of assets there or something? I would ask them directly, but if it's an error I don't want to alert them to it!
↧
↧

Purchasing vacation package from USA, how to not pay the 2.5% fee?

March 23, 2014, 9:06 am
$
0
0
So looking to buy a vacation package through vacation express and wondering how we can get away paying the 2.5% fee? Both our cards are by cibc and they won't budge on the fee. Really don't want to apply for a card just for this one time purchase.
↧

Question about tax return for a mortgage transfer

March 23, 2014, 9:34 am
$
0
0
Hi,

Last year my parent's mortgage was transferred to my name due to their financial difficulties, did the land transfer/tax, and the mortgage/property is in my name now.
I'd like to know whether I can claim anything on my 2013 tax return, like the land transfer tax or etc?

I've done some googling but I'd like to confirm with someone who's done this before.
↧

Best use of aeroplan points. Any options to convert to other reward points?

March 23, 2014, 10:05 am
$
0
0
Applying for TD aeroplan very soon. I'm just planning to earn the bonus and convert my card back to first class travel infinite.

What are the best options for using the welcome bonus of 15k points? Is there any way I can convert those aeroplan miles to other reward program points (Avion etc)?

Thanks.
↧
Viewing all 25264 articles
Browse latest View live
Search