Bare trusts are now exempt from trust reporting requirements for 2023
Canadian Personal Finance | Reddit
by /u/braveheart2019
11s ago
Total mess created by this government submitted by /u/braveheart2019 [visit reddit] [comments ..read more
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What do new parents do with CCB?
Canadian Personal Finance | Reddit
by /u/FriendlyStranger85
12s ago
Planning to have a child next year and I’m aware of the Canada Child Benefit payment. Long story short, we’ve received 2 $400+ payments per kid before (fostering 2 family members). I’m uncertain if that’s the amount we’d be eligible to receive again (1 payment). Do people put it into an RESP and let it grow until 18? Thanks for sharing any knowledge! submitted by /u/FriendlyStranger85 [visit reddit] [comments ..read more
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If I buy tickets with Flair for a July flight and they go bankrupt by then, what are the odds of getting my money back?
Canadian Personal Finance | Reddit
by /u/mediocretent
13s ago
As per title. Would be booked on a Visa or MasterCard, I think both are the same in this regard. For those who will ask, why am I considering booking with Flair? My schedule is flexible (I don't mind delays, even 1 day delays for this trip), they fly to an airport 10 min from my friends house (compared to Pearson which is an hour drive), and the price is 2x cheaper Thanks! submitted by /u/mediocretent [visit reddit] [comments ..read more
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CRA: Alert! Bare trusts are exempt from trust reporting requirements for 2023.
Canadian Personal Finance | Reddit
by /u/echochambermanager
14s ago
https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/bare-trusts-exempt-from-trust-reporting-requirements-2023.html Lmao. submitted by /u/echochambermanager [visit reddit] [comments ..read more
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British Columbian looking for dental care
Canadian Personal Finance | Reddit
by /u/LukeH118
16s ago
I have numerous mental and physical problems that are a constant struggle for me to deal with as a low earning Canadian citizen. I have been diagnosed Anorexic, bulimic, OCD and BPD, but recently I was setback by a consequence of bulimia and GERD, being tooth decay. In early January I had to receive treatment for an extraction and root canal which has drained through the $2000 maximum coverage I get through working. Are there any clinics, resources or services available for someone like me who can’t afford it. submitted by /u/LukeH118 [visit reddit] [comments ..read more
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Beginning investment question
Canadian Personal Finance | Reddit
by /u/GourmandGoose
17s ago
Hi, I have 10k to put towards investments through wealth simple tfsa. I was using bmo investorline before but would like to try wealth simple instead. still very new to this sorry. should I put all 10k towards the ETF i want now (xeqt) or set up investing out of the tfsa over time like every two weeks? Should i use a roboadvisor? Thanks for the help submitted by /u/GourmandGoose [visit reddit] [comments ..read more
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1 million capital gains tax
Canadian Personal Finance | Reddit
by /u/One_Description_1891
18s ago
I sold some tech stock and have a gain of just over 1 million in a nonreg account.. So I would need to pay tax on half of that (500k) Is there anyway I can reduce my taxes on this 500k ? Split it with my wife ? Would an accountant have any tricks to reduce taxes or would I be wasting my time with scheduling a meeting ? Not looking for something illegal and I'm fine paying my fair share, just want to make sure I'm not missing any loop holes. ****** Haven't sold yet. I was going to next week. This a solo account. My wife has her own with significantly less in it. I don't really want to spread i ..read more
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[26F] Credit Card Debt From Severe Anxiety and Depression
Canadian Personal Finance | Reddit
by /u/Glad-Shelter2175
1h ago
My anxiety and depression got the best of me over the past three years and I am now in a lot of credit card debt. I currently have 3 credit cards with the following outstanding balances: BMO Air Miles - $17,000 AMEX Cobalt - $8,200 BMO Cashback - $4,700 ​ I was wondering what the best approach to tackling this would be? I've been looking into applying for an MBNA credit card for the 0% interest and balance transfer opportunity so that I can pay some of the debt down without the interest suffocating me. ​ Other background information include: Monthly Net Income ~ $2950 Monthly Phone Bill ~ $41 ..read more
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Remote Bank Wires
Canadian Personal Finance | Reddit
by /u/zooch76
1h ago
I'm hoping you guys can give me some suggestions on my situation. My mother recently came into a fairly large sum of money and I'm trying to figure out the best way to manage it for her. Things get complicated because of the following: She doesn't live in Canada any longer and now lives in the Caribbean. I no longer live in Canada and live in Florida. The money is sitting in a Canadian TD account; it's a joint account with both of our names on it. She's starting to suffer from dementia. Just to clarify, when I say I want to manage her money, I really just want to give her a monthly ..read more
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Suspicious Accountant
Canadian Personal Finance | Reddit
by /u/Shot_Yak4413
1h ago
Hi all! Wanted to get your advice I recently filed my taxes with an accountant two weeks ago and I was expecting to receive my returns this week. But he just informed me that I need to wait 6-8 weeks to receive the return. Is this normal, how can I verify he filed my taxes? I signed a bunch of paper work submitted by /u/Shot_Yak4413 [visit reddit] [comments ..read more
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