Questions tagged [canada]
For questions that relate to the financial laws, practices, and products of Canada.
134
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3
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If I were to buy something a day before my due date for my credit card bill, would I be charged interest?
First of all, I am a resident of Canada.
I am new to credit cards, so I hope my question makes sense. I've had my card for a few months ago and I've always paid the balance in full by the time the ...
- 189
94
votes
12
answers
12k
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Where can I park my rainy-day / emergency fund? Savings accounts don't generate much interest
Savings accounts don't seem to generate much interest. What other options do I have for my emergency fund?
- 1,145
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6
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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.
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43
votes
4
answers
48k
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It is legal for a retailer/store or other business to refuse $50 & $100 bills or other legal tender, e.g. pennies?
I'm trying to find out about businesses refusing $50 & $100 bills. Aren't they required by law to accept all legal tender? I had one person say it could be that it's not all legal (i.e. a ...
- 431
48
votes
6
answers
9k
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How do tax brackets work? Do they yield significantly different results than a continuous curve?
In Canada (and many other countries), high-earners pay a greater percentage of their income in taxes than low-earners. Here is our Schedule 1 form:
The marginal utility of money decreases smoothly ...
- 479
18
votes
3
answers
2k
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Regular contribution threshold for ETF vs Index Mutual Fund?
I've seen enough info out there comparing lump-sum investments into ETFs vs mutual funds with respect to broker commissions in the case of ETFs, and the discrepancy between MERs between the two. In ...
- 2,283
13
votes
4
answers
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Bigger mortgage downpayment vs. paying extra on the first regular payment?
Assuming there is no fees on paying extra $10k at the time of the first scheduled mortgage payment, what would be better - to put this $10k towards a downpayment or make bigger regular payment?
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7
votes
1
answer
392
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Ought a 63-year old working hotel employee commence an RRSP?
If I understood Global News, MoneySense, the Wealthy Barber, and Reddit, my dad ought NOT start or contribute to an RRSP! Right? Thanks.
Facts
He's 63 years old, and has no children under 18. He ...
user40269
6
votes
1
answer
4k
views
Sending money from Canada to the US
I want to transfer money to an American bank account, but I am in Canada. What is the cheapest way to do so?
MetaFilter has:
USPS mail order - $700 limit, $4 charge
Vanilla wire transfer (My bank ...
- 161
32
votes
9
answers
13k
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Can I buy a new house before selling my current house?
I am looking to sell and buy a house. But with the current market being as crazy as it is (houses are selling fast for sometimes 150,000 over asking), I'm afraid if we sell first, we could be stuck ...
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1
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I am a Canadian resident who wants to gift my Adult US child CAD$175K. What are the tax implications?
I am a Canadian resident who wants to gift my adult US child $175K Canadian. What are the tax implications for the US resident who resides in California?
- 271
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4
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I guess I'm American (by birth). I'm Canadian... my investment company is asking an impossible question. I don't have an SSN, what to do? Lie?
When I was born (1976) they did not automatically assign SSNs to kids (according to my mother). I guess that's not the case now. I only lived there for a few years and I gather I am a US citizen by ...
- 446
13
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3
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First time home hunters. Pay debt or save for down payment
tl;dr
We want to buy a house.
We've done all the pro's and con's of home ownership.
We have 1/2 a down payment and some highish loan payments
Would it be wiser to pay down the loans and go with a ...
- 285
11
votes
2
answers
929
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TFSA vs. RRSP... Best retirement approach
What's the best retirement strategy? Assuming I have $1000 and room in both my TFSA and RRSP contribution, where should the $1000 go?
- 429
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What low-fee & liquid exchange-traded index funds / ETFs should I consider holding in a retirement portfolio?
I'm still (one year later) going through an exercise to restructure my retirement portfolio.
To date, I've been using a mix of exchange-traded index funds. Some trade on the TSX, and others trade in ...