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Kal Torak posted:Huh? They all do that. Oops, you're sort of right. RBC and HSBC (the other ones I know about) don't. I guess Scotia and BMO do.
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Apr 9, 2015 04:52
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spoof posted:So for $14/mo, you could earn 50 AIR MILES Reward Miles if you keep a balance of $3000 or more. Seriously? Air Miles and Aeroplan are two absolutely bogus rewards programs. But it is Canada where "Paying More is our National Pasttime". Kreez posted:Oops, you're sort of right. RBC and HSBC (the other ones I know about) don't. I guess Scotia and BMO do. Hmm...I thought they all did but yeah, looks like RBC and CIBC do not.
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Apr 9, 2015 05:01
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Kreez posted:Oops, you're sort of right. RBC and HSBC (the other ones I know about) don't. I guess Scotia and BMO do. HSBC does it too, but they base "minimum balance" on your total asset value parked with them (investments and your mortgage etc), and the number is much higher ($100k now I believe). I briefly considered that account, but HSBC is miraculously somehow even sleazier as a corporation than our banks.
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Apr 9, 2015 05:08
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Kal Torak posted:Air Miles and Aeroplan are two absolutely bogus rewards programs. But it is Canada where "Paying More is our National Pasttime". CIBC does wave a fee on account balance of 1500 or more.
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Apr 9, 2015 05:41
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Kal Torak posted:Air Miles and Aeroplan are two absolutely bogus rewards programs. But it is Canada where "Paying More is our National Pasttime". Air Miles in particular is just spectacularly awful. A few months ago I wanted to burn up my points and there was essentially nothing of tangible value worth ordering. They used to have Whistler passes and so on - no more. Ended up ordering literally, and I do mean literally the only thing on the site I could find that might have a chance of being worthwhile: a shredder. It's just so  .
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Apr 9, 2015 07:26
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I overheard a couple gems at work the other day. Regarding TFSA's, one of the guys said something along the lines of "It's just another place for the rich to hide their money" and "I'm getting a great return this year because of it." He seems to be completely ignoring the fact that TFSA's are registered accounts, and when questioned about how his TFSA contributions have an effect on his return, he seemed to not actually be confusing them with RRSP contributions. He went on with something like "RRSPs are taxed when you withdraw from them. TFSAs are never taxed. I put money in, get a receipt for what I put in, and claim a deduction on my tax return. Then they don't even charge tax when you withdraw." This is all coming from the same guy that bitches and moans about having to pay EI premiums, since he think's he'll never be eligible to claim EI benefits because we (in our particular agency) have in the past had very low rates of lay-offs. Also, this same guy has (a long time ago) been convicted and imprisoned for defrauding the government by working while on unemployment insurance benefits. Basically "I shouldn't have to pay these premiums, because I already claimed more than my fair share, and suffer from exceptional job security" I have no idea how in the gently caress this 8th grade educated criminal is working in the public service.
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Apr 9, 2015 09:08
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sbaldrick posted:So do you make enough that you can knock out 11k in 4 months or is it 4 years. If you make enough money that you can knock off 11k is 4 months, try a risky investment with the money I can knock out 11k in 4 months. I run my own business and do about 44k net from that a year, and I'll be entering articling as a law clerk which pays okay. What is a risky but not insane investment I could look into?
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Apr 9, 2015 11:52
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spoof posted:I just glanced at BMO's plans and confirm that they also waive their fees. I also found this gem. They have two similar plans: When the GIC matures next year I will close all three though. I am done with RBC being useless and lovely. I primarily use my tangerine chequing and MBNA credit card now.
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Apr 9, 2015 12:58
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In case anyone was going over to MBNA to (try to) escape the Big 5, know that they're owned by TD as of a few years ago.
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Apr 9, 2015 15:01
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spoof posted:In case anyone was going over to MBNA to (try to) escape the Big 5, know that they're owned by TD as of a few years ago. And Tangerine is owned by Scotiabank. Hard to really escape them.
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Apr 9, 2015 15:23
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Tangentially related but I've found frequent flyer miles are best spent renting cars or minivans for moving. There's nothing more awesome than having a minivan to move your poo poo around with.
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Apr 9, 2015 15:26
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spoof posted:I just glanced at BMO's plans and confirm that they also waive their fees. I also found this gem. They have two similar plans: Air miles are worth about 9.5 cents each, so you are paying $14 for a value of $4-5 bucks in rewards. Lexicon posted:Air Miles in particular is just spectacularly awful. A few months ago I wanted to burn up my points and there was essentially nothing of tangible value worth ordering. They used to have Whistler passes and so on - no more. Air miles is an effort program sure, but if you are already shopping at these stores for other reasons it is just an added bonus. I used to cash out my air miles for TTC Metro passes and sell them, but sadly I can't find them on the website as a reward. It will take quite a while to collect them if you accumulate at $20 / 1 point.
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Apr 9, 2015 15:48
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Rick Rickshaw posted:And Tangerine is owned by Scotiabank. Hard to really escape them. It's not really about escaping the big banks. It's about escaping the fees that come with them.
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Apr 9, 2015 15:55
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jm20 posted:Air miles is an effort program sure, but if you are already shopping at these stores for other reasons it is just an added bonus. Except that Air Miles (Loyalty One Inc) and Aeroplan (Aimia Inc) are profitable which means the cost is borne by the vendor and ultimately the consumer. You as the consumer are paying for this "added bonus".
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Apr 9, 2015 16:02
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jm20 posted:Air miles is an effort program sure, but if you are already shopping at these stores for other reasons it is just an added bonus. I used to cash out my air miles for TTC Metro passes and sell them, but sadly I can't find them on the website as a reward. It will take quite a while to collect them if you accumulate at $20 / 1 point. This is precisely my point! I'm not saying that the accumulation rate is slow; I'm saying that they've removed virtually everything of value that one might like to order given sufficient points. It was always a lovely program - now it's just totally worthless and bereft of any value to anyone.
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Apr 9, 2015 16:14
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JibberJabberwocky posted:I can knock out 11k in 4 months. I run my own business and do about 44k net from that a year, and I'll be entering articling as a law clerk which pays okay. You could always roll the dice on an oil company, Canadian Oil Sands is way under valued and Cenovus is a bit under valued if you can get into it in the next few days. I don't follow some of my legacy stocks all that closely and it seems my CPR stock is currently worth around 70 grand since I last look, gently caress me.
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Apr 9, 2015 17:16
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sbaldrick posted:You could always roll the dice on an oil company, Canadian Oil Sands is way under valued and Cenovus is a bit under valued if you can get into it in the next few days. Thank you Americans who took over CP!Can I have my job back please
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Apr 9, 2015 18:16
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Lexicon posted:This is precisely my point! I'm not saying that the accumulation rate is slow; I'm saying that they've removed virtually everything of value that one might like to order given sufficient points. You need to change your Airmiles over to Cash rewards. I check the weekly Safeway flyer and get the airmile bonus deals (if the sale price is good also) and then use the miles to get free gas. It does suck that they split up the miles into two categories and you can't really do much with your miles left over in the terrible "dream rewards" section.
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Apr 9, 2015 18:47
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beepo posted:You need to change your Airmiles over to Cash rewards. I check the weekly Safeway flyer and get the airmile bonus deals (if the sale price is good also) and then use the miles to get free gas. Ah, I didn't know that. It's bizarre that they'd have this dual system, but whatever. I don't shop to any meaningful extent at any Airmiles place anyway, as they are mostly awful.
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Apr 9, 2015 18:59
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DariusLikewise posted:Thank you Americans who took over CP!Can I have my job back please CP has always had horrible turnover like every 10 to 15 years. I honestly don't believe any other company operates more in a state of Civil War with itself then CP, it use to be worse when it was like 7 different divisions.
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Apr 9, 2015 20:12
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sbaldrick posted:CP has always had horrible turnover like every 10 to 15 years. I honestly don't believe any other company operates more in a state of Civil War with itself then CP, it use to be worse when it was like 7 different divisions. The last takeover especially was just a major shock for everything, not that it happened, everyone knew that the CEO was getting ousted. It was going from Fred Green who knew nothing about cost-effective railroading to Hunter Harrison Mr. Efficiency himself. Buyouts came down within the first 3 months and I think they are operating with a third of the amount of people than what was their prior to his taking over.
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Apr 9, 2015 21:12
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So my T3 finally arrived from Investorline. Aside from dividends, it shows a capital gain amount. It's close but not identical to a capital gain I'd calculated on my own ($60ish difference). I believe mine is correct, even though it's not in my favour. Should I use that instead of what the T3 says? In general, will this cause CRA problems if I report a capital gain differently than what the broker thinks?
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Apr 11, 2015 21:17
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Lexicon posted:So my T3 finally arrived from Investorline. Aside from dividends, it shows a capital gain amount. It's close but not identical to a capital gain I'd calculated on my own ($60ish difference).
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Apr 11, 2015 22:22
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Lexicon posted:So my T3 finally arrived from Investorline. Aside from dividends, it shows a capital gain amount. It's close but not identical to a capital gain I'd calculated on my own ($60ish difference). The capital gain on the T3 slip is not the capital gain when you bought/sold the fund. That is capital gains income from when the portfolio manager makes changes within your fund’s portfolio, and sells securities that result in a profit. It's the portion of income the fund received during the year that resulted from capital gains. To simplify, you have to claim both. Kal Torak fucked around with this message at 22:48 on Apr 11, 2015 |
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Apr 11, 2015 22:44
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Kal Torak posted:The capital gain on the T3 slip is not the capital gain when you bought/sold the fund. That is capital gains income from when the portfolio manager makes changes within your fund’s portfolio, and sells securities that result in a profit. It's the portion of income the fund received during the year that resulted from capital gains. Hmm, really? How confident are you in this? It seems close enough that I hadn't entertained it was anything other than the actual ACB derived capital gain, albeit calculated differently from my way.
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Apr 11, 2015 23:57
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Lexicon posted:Hmm, really? How confident are you in this? It seems close enough that I hadn't entertained it was anything other than the actual ACB derived capital gain, albeit calculated differently from my way. I'm 100%. Okay, do this. Add up all the income on the T3 and then compare that to the amount of distributions you received. The numbers should agree.
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Apr 12, 2015 00:13
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Kal Torak is correct. It's a coincidence that the amounts are so similar for you. Box 21 on the T3 doesn't summarize your capital gains from trading activitiy, it summarizes capital gains paid out to you via distributions from your holdings (due to selling of holdings within a fund's portfolio). If you look at the included T3 Summary of Trust Income form, there should be a breakdown of return of capital, capital gains and foreign income for every time one of your holdings made a distribution. For example, I have shares of XEF, and in August 2014 Blackrock switched from holding their US equivalent ETF (IEFA) to holding the underlying stocks directly. Their selling of underlying assets triggered capital gains, paid out to me via their distributions, that has to be reported. It gets reported on the T3, so I don't have to try and figure out what happened myself (thank god).
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Apr 12, 2015 00:44
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Thanks for all that, cowofwar, Kal Torak, HystericFactor. That makes sense. Side note: why the gently caress don't the banks track your non-registered capital gains for you? It seems ludicrous to me that this has to be done manually.
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Apr 12, 2015 03:40
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You're right, they absolutely should. They are getting better though. With the new T1135 reporting, the Brokers/Banks have taken it upon themselves to increase the tracking and reporting they do. Still a ways to go though... And it will never be 100%. If you transfer assets between brokers, there's no way they can know what the true cost basis of that investment is.
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Apr 12, 2015 03:52
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Kal Torak posted:Air Miles and Aeroplan are two absolutely bogus rewards programs. But it is Canada where "Paying More is our National Pasttime". Aeroplan isn't that bad. It's not great, but the redemption rates are pretty much on par with a lot of US programs (they probably are better in some cases, if you count the CAD/USD exchange rate).
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Apr 13, 2015 04:13
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blah_blah posted:Aeroplan isn't that bad. It's not great, but the redemption rates are pretty much on par with a lot of US programs (they probably are better in some cases, if you count the CAD/USD exchange rate). Aeroplan is pretty crap, but it's leagues better than the worthless bad joke that is Airmiles.
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Apr 13, 2015 05:28
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I want airkilometers
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Apr 13, 2015 16:38
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Baronjutter posted:I want airkilometers what you're saying is you want less?
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Apr 13, 2015 16:38
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JawKnee posted:what you're saying is you want less? No, he obviously wants his current airmiles balance to be multiplied by 1.6.
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Apr 14, 2015 00:37
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ductonius posted:No, he obviously wants his current airmiles balance to be multiplied by 1.6. This is Air Canada. The conversion will be 1:1 and redemption requirements will increase by 1.6.
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Apr 14, 2015 13:22
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spoof posted:This is Air Canada. The conversion will be 1:1 and redemption requirements will increase by 1.6. Also forced to fly Jazz for that generous 43 cm width
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Apr 15, 2015 14:49
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Alright here is the deal: my mother-in-law has about 15K to invest, I told her about the E-Series but she is not interested in it. This is what the bank is recommending to her, any thoughts? https://research.tdwaterhouse.ca/research/public/MutualFundsProfile/Summary/ca/FID269
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Apr 16, 2015 16:54
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triplexpac posted:Alright here is the deal: my mother-in-law has about 15K to invest, I told her about the E-Series but she is not interested in it. They are recommending funds that will make them money. 2.1% MER is ludicrous.
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Apr 16, 2015 17:01
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triplexpac posted:Alright here is the deal: my mother-in-law has about 15K to invest, I told her about the E-Series but she is not interested in it. MER of 2.1%. Look elsewhere.
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Apr 16, 2015 17:01
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triplexpac posted:Alright here is the deal: my mother-in-law has about 15K to invest, I told her about the E-Series but she is not interested in it. If she won't listen to very simple, helpful, correct advice, just walk away.
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Apr 16, 2015 18:07
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