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Questions tagged [canada]

For questions that relate to the financial laws, practices, and products of Canada.

3 votes
2 answers
37k views

What's the difference between a Chequing account and a Savings account?

Because I know you can draw cheques from a savings account, so what gives?
Nat_Rea's user avatar
  • 8,683
6 votes
2 answers
504 views

Is there a (legitimate) website on which I can check to see if I have any unclaimed money from past bank accounts?

It may seem silly, but I wonder if I've got a bank account out there in which I have unclaimed money. Wouldn't that be cool? How can I check?
Nat_Rea's user avatar
  • 8,683
10 votes
6 answers
192k views

Ontario harmonized sales tax (HST) transition benefit rebate cheques / OSTTB: Who, when, how much?

As part of introducing the HST this July 1st, 2010, the government of Ontario promised to issue special HST rebates to people meeting certain criteria, in order to ease the transition to the new tax. ...
8 votes
3 answers
468 views

If I volunteer to give back to my community, is there a monetary amount assigned to my time, to act as an Income Tax Deduction?

Is there a value that can be assigned to my time, i.e. an hourly rate, so that I can be given a receipt to remit to CRA come Income Tax Filing time? I live in Canada.
Nat_Rea's user avatar
  • 8,683
3 votes
2 answers
5k views

Can vet / veterinary bills be considered deductions (tax-deductible) for Income Tax purposes [Canada]?

When I gathered all my 2009 receipts in preparation for my Income Tax filing, I came across a large number of expenses incurred for my pets. Are these expenses tax-deductible?
Nat_Rea's user avatar
  • 8,683
3 votes
1 answer
1k views

My Ontario small business collects only PST (beneath GST threshold). How will HST affect me?

I own a small business in Ontario and make less than $30,000 per year. I only charge the PST Will I be affected by the new HST and if so, how ? ==================== Also: If the PST is going ...
user avatar
4 votes
2 answers
6k views

Ontario gas prices & HST: What will happen to prices at the pump on July 1, 2010?

When the HST comes into effect on July 1, 2010 will gas prices at the pump be affected immediately?
Zephyr's user avatar
  • 6,230
2 votes
1 answer
170 views

What are good strategies to maximize cross border shopping benefits? [Canada]

Depending the length of one's visit to the US from Canada there are different limits and different exemptions. This also assumes that the price discount is worth it. What strategies have people ...
Zephyr's user avatar
  • 6,230
8 votes
2 answers
2k views

Is there something similar to Mint.com for Canada?

Mint.com sounds like an interesting service, but it doesn't look like it works in Canada. Is there an alternative for us?
Scott Whitlock's user avatar
1 vote
1 answer
6k views

Child care expenses: How much deduction can be claimed on tax return? [Canada]

How much deduction can be claimed for child care expenses on a Canadian income tax return, for 2009? Does it vary by province? Are receipts required to claim a child care expenses deduction?
3 votes
1 answer
868 views

How do LIRA/LRSP's differ from RRSP's?

I have heard of Locked In Retirement Accounts (LIRAs) also known as Locked-in Retirement Savings Plans (LRSPs) Registered Retirement Savings Plans (RRSPs) How are they different and what are the ...
Zephyr's user avatar
  • 6,230
7 votes
2 answers
5k views

Is there a free online credit report service in Canada?

This question refers to the AnnualCreditReport.com service in the United States. Similarly, is there a free online credit report service in Canada?
Chris W. Rea's user avatar
  • 31.7k
2 votes
1 answer
534 views

Canada: New mortgage qualification rules, 2010: Why, what, & when in effect?

Earlier today, the Canadian federal Finance Minister Jim Flaherty announced new mortgage qualification rules for Canada. Why were new rules introduced? What are the new rules being introduced, vs. ...
2 votes
2 answers
575 views

Group (pooled) RESP plans in Canada: Education savings advantages & disadvantages?

I'm familiar with the Individual and Family types of Registered Education Savings Plans (RESPs). There's also a third type: Group (pooled) RESPs, which I mentioned in this answer. I didn't provide ...
Chris W. Rea's user avatar
  • 31.7k
3 votes
2 answers
8k views

What's the maximum income one can have and not have to file a tax return? [Canada]

I'm starting a home-based business and make very little. Do I have to worry about income tax?
Nat_Rea's user avatar
  • 8,683

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