over contributed to tsfa question
my dad had an auto deposit into his tsfa account he forgot about and recent deposit the full $5500 into another tsfa account. He should quickly remove the extra contribution? would he still be consider...
View ArticleI forget to report my RSP contribution in Feb 2012 for Y2011 tax,how to rescue?
i had to take a two month long trip last march. Therefore, I quickly filed my tax around March 1st last year, before I receive my Jan-Feb 2012 RRSP contribution slip. Therefore, I didn't report my...
View ArticleRetirement savings?
Lets assume you're debt free today, how much in today's dollars would you want annually in order to retire?
View ArticleT3 question
I had TD e-series funds and cash everything out on January 19, 2012... given that it's such a short period of time in 2012, is it likely that I'll be receiving a T3 for this? I had about $8500...
View ArticleCRA Audit/ Tax Issue
This may not be the best place to post this, but I think any information is helpful at this point... A notice of assessment was received for years 2003, 2005, 2006. Male's assessment had to with...
View ArticleDeducting use of personal vehicle against income
I started a contracting position last year that requires a fair amount of driving. At the time, I started keeping a log book of all my business travel... date/time, reason, mileage. My understanding is...
View Articlehow to grow a tfsa
So currently my tfsa is maxed out at 27,000. I heard if you make say 100k on a investment in your tfsa your contribution room is now 27,000... is there any ways of getting such room legally?
View ArticleDeclaring rental income for "border" on tax return.
Hey guys, I am preparing my tax returns using TurboTax. We recently bought a house (10/2012) and had a life long friend move in to one of our bedrooms (of a total of 3). This leaves us with 3 months of...
View ArticleDo I need to sign for electronic wire transfers?
I need to wire money into my TD account, but I will be out of the country for a few weeks. The money has to be in my account right away, because I have some bills to pay that will automatically be...
View Article0% promotional rate on existing credit card?
Do you guys get offered a 0% balance transfer promotional rate on your existing credit cards? If so, is it offered to you or do you phone and ask? I've never been offered such a thing on an existing...
View ArticleCredit utilization, debt to credit ratio
I remember reading on RFD that a 30 percent ratio is good for your credit score on Equifax and Transunion. For example, if you have a credit card with an available limit of $1000, you should use only...
View ArticleIs Dr. Bernstien diet considered a tax medical expense?
An doing income tax filing for a family member and she has payment records from Dr. Bernstien diet. She was told they are tax deductible. But I looked everywhere and don't see anything about this being...
View ArticleReporting Jan-Feb Contributions to RRSP?
Anyone can explain to me if I auto contribute to RRSP from your employer with a company match, am I suppose to receive another retirement savings plan tax form for Jan-Feb 13 from the plan sponsor? How...
View ArticlePaypal and CRA (taxes)
Do I have to report the money I get from Paypal when I do my taxes? Does Paypal give any information to the CRA? I'm really confused about this, because some of the funds in my account is not really...
View ArticleSenior Tax Questions
How do you file CPP / OAS for a Senior ? Can you claim the rent paid in a residence ?
View ArticleCan two businesses claim CCA on the same automobile?
Is it possible for two individuals to claim CCA on the same automobile during a taxation year for business purposes? If so, will the vehicle be experience "depreciation" at double the regular rate? Or...
View ArticleSeperate MSP Accounts
So my common-law partner and I have been together for about 7 years now. We now have 3 kids and still have seperate MSP accounts. I'm the only one with income at the moment so as it stands I basically...
View ArticleJoint or seperate accounts?
For those of you who are married, do you have joint or seperate accounts?
View ArticleQuick question regarding filing taxes!!
Hey, I've probably got a dumb question but the CRA offices are closed and I figured I'd get the same answer here. I work for my employer since 2011 where I was involved in a MVA and have been off work...
View ArticleIs it safe/a good idea to put all my money with one bank?
I currently have 25k in my TFSA at People's Trust HISA at 3%, and another 25k at Ally HISA at 1.2%. Since Ally is shutting its doors on Apr 30, I need to find somewhere else to put my 25k. People's...
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