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I pay my rent via e-transfers and today when I was checking my balance i saw that daily e-transfer limits have been upped to 10,000 CAD. Two years ago I actually had to up my daily transfer limit so I could pay rent in one go and RBC told me the hard cap was something like 2800 CAD. Have enough people started to move away from cheques to online banking for rent payments that the banks have finally starter upping the limits?
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Apr 27, 2024 16:40
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| # ? May 5, 2024 08:33 |
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Arc Hammer posted:I pay my rent via e-transfers and today when I was checking my balance i saw that daily e-transfer limits have been upped to 10,000 CAD. Two years ago I actually had to up my daily transfer limit so I could pay rent in one go and RBC told me the hard cap was something like 2800 CAD. Could also just be that they've determined you aren't a drug dealer.
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Apr 27, 2024 18:15
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Arc Hammer posted:I pay my rent via e-transfers and today when I was checking my balance i saw that daily e-transfer limits have been upped to 10,000 CAD. Two years ago I actually had to up my daily transfer limit so I could pay rent in one go and RBC told me the hard cap was something like 2800 CAD. I think the limits are bank specific. I can do 10k/day 20k/week 50k/month via etransfer, and have been able to for quite a while.
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Apr 27, 2024 18:24
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I think that it’s both. e-transfer is through Interac, they have a hard cap (which I think might be 10k for personal accounts and 25k for a business account?) and then on top of that the financial institution sets a limit if they want to, for example mine is 3k and my partner’s is 5k.
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Apr 28, 2024 04:37
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Arc Hammer posted:I pay my rent via e-transfers and today when I was checking my balance i saw that daily e-transfer limits have been upped to 10,000 CAD. Two years ago I actually had to up my daily transfer limit so I could pay rent in one go and RBC told me the hard cap was something like 2800 CAD. I had the same thing happen in the last year or two, also at RBC. I saw something saying that it might ask for my card PIN for larger transactions, but I sent one for $6500 a few days ago and it didn’t ask (from the mobile app).
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Apr 28, 2024 04:48
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I was able to up my limit to 10k a day a while back but they really impressed on me they aren't responsible for money being sent to the wrong person through a typo. It's a big liability.
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Apr 29, 2024 20:00
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DrBox posted:I was able to up my limit to 10k a day a while back but they really impressed on me they aren't responsible for money being sent to the wrong person through a typo. It's a big liability. That's just it though, they don't carry any of the liability and can't even intervene to stop an autodeposited transfer so I don't get why they care at all. These are the same people (banks) that are happy to charge what they do on credit card interest, they aren't primarily acting in the interests of their patrons anyways.
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Apr 30, 2024 16:33
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Hey folks, I have a weird CRA-related question and some helpful goons pointed me to this thread. I moved from the US to Canada in late 2019, got a work permit in 2021, have filed my taxes for 2020 (first year I was a tax resident) and on. I just got a letter from the CRA asking me to file returns for 2015 thru 2019, years when I did not live in Canada. Any other immigrants have an experience like this? Am I just supposed to file a bunch of $0 returns, or what? I'm in the process of trying to sort this out directly with the CRA but just curious if anyone has an idea of what to expect here.
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May 2, 2024 19:10
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Muscle Tracer posted:Hey folks, I have a weird CRA-related question and some helpful goons pointed me to this thread. There's a section on page 1 of the T1 that says "If you became or ceased to be a resident of Canada for income tax purposes in 2020, enter the date of [entry/departure]." Did you fill that out? You shouldn't have to file returns for years in which you were not a resident of Canada at any point and had no Canadian income, but if you didn't alert them to the fact that you became a tax resident at some point, they might think you always have been.
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May 2, 2024 19:59
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Muscle Tracer posted:Hey folks, I have a weird CRA-related question and some helpful goons pointed me to this thread. I had a related experience as an emigrant because I hosed up my departure paperwork and they decided that I was not a resident earlier than I actually left, and then used that to (a decade retroactively) penalize me for TFSA overcontribution. Anyway, they wanted to see things like home insurance policies, utility bills, receipts for stuff shipped to the address in question, medical records, etc. If you have that stuff for those years (or maybe just 2019 would suffice), then I would keep it handy. (My accountants think I would have triumphed in tax court eventually, but at a cost greater than the penalty amount we negotiated them down to.)
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May 3, 2024 01:45
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tagesschau posted:There's a section on page 1 of the T1 that says "If you became or ceased to be a resident of Canada for income tax purposes in 2020, enter the date of [entry/departure]." Did you fill that out? You shouldn't have to file returns for years in which you were not a resident of Canada at any point and had no Canadian income, but if you didn't alert them to the fact that you became a tax resident at some point, they might think you always have been. Yeah, this sounds to me like a hiccup somewhere on paperwork or something. A lot of the letters that are sent out are automatic (ask me about getting frantic calls from clients saying they got their Notice of Assessment that says they owe -- turns out the CRA just didn't apply the payment until after sending the NOA almost every single time). Generally, if you're a non-resident for tax purposes then you don't have to pay tax if you have no Canadian-source income. If you give them a call at 1-800-959-8281 (keep your latest tax return or NOA on hand to confirm your identity) they should at the very least give you some guidance if not outright fix it (be prepared for a long wait, 'cause their call centres are always swamped). Also: thank gently caress tax season is over. I survived my first at the new office. Very few billable hours because I was the only staff member who was versed in e-signatures, efiling, etc. thanks to a shortage of staff, but at least I get at least a few extra days of paid vacation out of it. Edit: if you haven't set up an online account with CRA, please do so. It takes extra effort but now that there's less of a time-crunch it'll save you hassle later on in the event that you need something, like checking any slips you've missed, checking RRSP/TFSA contribution room, downloading your notices of assessment, that kind of thing. mojo1701a fucked around with this message at 02:11 on May 3, 2024 |
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May 3, 2024 02:05
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VelociBacon posted:That's just it though, they don't carry any of the liability and can't even intervene to stop an autodeposited transfer so I don't get why they care at all. These are the same people (banks) that are happy to charge what they do on credit card interest, they aren't primarily acting in the interests of their patrons anyways. Yeah, I meant it's a big liability on the individual. Easy to send money and no recourse if mistakes are made.
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May 3, 2024 14:38
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Thanks for the advice folks. I located the "became a resident" on my 2020 tax return, and no, it was not checked, which explains a lot. I did get through to the CRA, and at least got my immigration status updated, although now I've got to call another specialist center to learn if they actually expect me to file a 2019 return or not, and what that would even look like. Still, progress. And yeah I've had exactly the experience you guys referenced here, everyone I've spoken to has been polite and helpful though it's often taken a longgg wait time to actually get to them. Leagues better than dealing with the IRS!
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May 4, 2024 04:30
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