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cowofwar posted:Graduate employment numbers are also declining every year. So every year tuition costs go up while in-field employment goes down. Which means eventually the actuaries at the banks will not provide loans for education anymore because there wont be confidence that it will be repaid. I guess Canada could make tuition free at that point but more likely backstop it with a CHMC for education. Holy loving I'm laughing out loud rn
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Jul 4, 2017 22:41
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DariusLikewise posted:There's gotta be a point where University either becomes only for the ultra-rich or enrollment drops so much that they have to lower or freeze tuition, no loving way my kid is paying 108k for a BA in the Liberal Arts Public post-secondary tuition in Ontario is set by the province, not market forces.
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Jul 4, 2017 22:54
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Subjunctive posted:Public post-secondary tuition in Ontario is set by the province, not market forces. It's like that anywhere, but if the Provinces move prices too high enrollment will crater and they will either need to lower prices, offer more scholarships, close departments or just let Universities bleed money??
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Jul 4, 2017 22:57
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To lower tuition they would need to increase the money they give schools, which is unlikely to happen in a meaningful amount. More likely you'd see small schools close. At least in the college system, few schools could survive in the red for long. Probably also the case for the vast majority of universities too. (Exceptions being U of T, maybe Waterloo and UBC?)
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Jul 4, 2017 23:05
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ubc is basically a REIT with a crappy football team at this point
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Jul 4, 2017 23:39
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cowofwar posted:First world countries need immigration and growth to stave off collapse, and the most difficult things to automate are fiddly jobs in non-standardized locations so probably a white collar trade like electrician. Although I'm sure regulations will continue to weaken so that instead of needing an electrician to do the work you can just hire a firm that has one electrician and they send a non-certified TFW to do the job after they get your app order. Already happens. Technically you only need the electrician to do the connection at the panel or receptacles/etc. Running of cable is general labour (and generally takes the most time.)
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Jul 5, 2017 00:15
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On the one hand, it will be a very long time (if ever) before Rope Access situations are automated so I tell everyone it's a great bet for mid-term career stability. On the other hand, it's being flooded with garbage trainees from developing nations and our country really loves to suckle on TFW's. 
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Jul 5, 2017 00:25
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The other issue is that with our merit based immigration people with language, education, and money get preference to come here. So they likely are already a step ahead education wise, however the verification of their accreditation is sometimes lacking. 110k for Arts majors I dunno though. Need to run that through a cost benefit analysis to see if you will ever make your money back... hahaha kidding you will never ever ever make that back in salary
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Jul 5, 2017 00:31
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namaste faggots posted:My wealth manager~ got me to meet a financial planner and she was saying that we need to plan for 35k/year university tuition for our precious 2.5 year old snowflake. That's in today's dollars btw. For a Canadian university. Anyone else planning to spend that much? By the time your kid is in college Waterloo co-ops are going to be paying like 15k/mo.
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Jul 5, 2017 06:14
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Jesus Christ my tuition in Ottawa 10 years ago was like $4000 a year. edit: I just looked it up now, it looks like it's gone up to $4000 a semester 
HookShot fucked around with this message at 03:41 on Jul 6, 2017 |
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Jul 6, 2017 03:38
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Does someone collecting a pension or withdrawing from an RRSP pay CPP/EI? What about dividend/capital gains - is CPP/EI paid on that? Cursory google search has let me down.
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Jul 7, 2017 19:51
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Guest2553 posted:Does someone collecting a pension or withdrawing from an RRSP pay CPP/EI? What about dividend/capital gains - is CPP/EI paid on that? Cursory google search has let me down. No you don't pay CPP/EI. No cap gains either.
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Jul 7, 2017 20:01
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namaste faggots posted:No you don't pay CPP/EI. No cap gains either. Yeah, CPP is literally only on employment/business income, and EI is only on employment income that is considered arm's-length (ie. if you own or are related to the owner of a corporation, you pay no EI). I know most of you know this already, but for anyone who's self-employed (or thinking about becoming self-employed) and has never realized this: not only is paying CPP your responsibility, but you're also paying double than that as an employee since you're now your own employer paying that portion.
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Jul 7, 2017 20:56
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I have a TFSA and RRSP with them, and it's my understanding that I should expect withholding tax on Canadian held foreign funds, such as VXC. And since US held funds of US stock are exempt from withholding tax in RRSPs, I want to see what the impact is to decide if it's worth splitting my VXC into US-held VTI and an international fund like VIU. How could I see withholding tax in Questrade? You'd think it'd be an entry on dividends, but there's no such information. Or is it collapsed into the net dividend and I have to consult Vanguard to determine what was taxed? Jan fucked around with this message at 17:53 on Jul 8, 2017 |
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Jul 8, 2017 17:49
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mojo1701a posted:Yeah, CPP is literally only on employment/business income, and EI is only on employment income that is considered arm's-length (ie. if you own or are related to the owner of a corporation, you pay no EI). When I was self employed, my accountant told me not to bother paying either.
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Jul 8, 2017 17:56
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Lexicon posted:When I was self employed, my accountant told me not to bother paying either. If you were under 18 or over 65, that was potentially valid advice. Otherwise dead wrong re: CPP.
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Jul 8, 2017 18:00
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James Baud posted:If you were under 18 or over 65, that was potentially valid advice. Otherwise dead wrong re: CPP. Hmm, well it seems to have been consequence free 
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Jul 8, 2017 18:09
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If you're serious employed ei is optional.
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Jul 8, 2017 18:18
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James Baud posted:If you were under 18 or over 65, that was potentially valid advice. Otherwise dead wrong re: CPP. If you're self-employed you can opt out of CPP by filing an election. Schedule 8, Canada Pension Plan Contributions and Overpayment for 2016, Box 372 quote:I elect to stop contributing to the Canada Pension Plan on my self-employment earnings on the first day of the month that I entered in box 372. http://www.cra-arc.gc.ca/E/pbg/tf/5000-s8/5000-s8-16e.pdf grack fucked around with this message at 18:43 on Jul 8, 2017 |
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Jul 8, 2017 18:34
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grack posted:If you're self-employed you can opt out of CPP by filing an election. You did read the very next sentence, right? "The date cannot be earlier than the month you turn 65 and you are receiving a CPP or QPP retirement pension"
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Jul 8, 2017 18:48
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Government still allows you to opt-out. I'm self-employed, have done so for ~10 years and I've never had a return come back with CPP owing.
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Jul 8, 2017 18:54
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grack posted:Government still allows you to opt-out. I'm self-employed, have done so for ~10 years and I've never had a return come back with CPP owing. They roll the CPP in with the other money owing/refunded, but if you fill the return in wrong, sure, it'll be processed wrong and they may not catch something that easy to do with computers because lol. Gotta pay yourself with dividends to avoid CPP properly, and that has other tradeoffs.
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Jul 8, 2017 19:08
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CPP is not optional on employment income. The only way you can avoid it (assuming you are below 65) is by incorporating and paying yourself dividends.
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Jul 8, 2017 22:51
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Lexicon posted:When I was self employed, my accountant told me not to bother paying either. haha what the gently caress fire your accountant You don't need to pay EI but you definitely need to pay CPP. My first year of being self-employed in Canada I accidentally paid EI because I didn't know and the CRA kindly sent me a cheque back with the amount I'd paid and a letter informing me that it wasn't necessary.
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Jul 9, 2017 01:28
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Kal Torak posted:CPP is not optional on employment income. The only way you can avoid it (assuming you are below 65) is by incorporating and paying yourself dividends. Ah this must've been how I got around it. I only took dividends until I wound down the corp
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Jul 9, 2017 02:06
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Lexicon posted:Ah this must've been how I got around it. I only took dividends until I wound down the corp Oh ok yeah that makes sense then.
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Jul 9, 2017 04:56
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Lexicon posted:Ah this must've been how I got around it. I only took dividends until I wound down the corp In which case, yeah that's it. That would therefore count as investment income, and not employment.
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Jul 9, 2017 04:57
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Question about a balance transfer promo... My MBNA MasterCard (no balance, and not my primary card) is offering me the insane interest rate of 0.00% on balance transfers, up until January 1st. The maximum I can take out is 26k. Should I max out this 26k and just park it at EQ BANK (2.3%) or similar for 6 months? I would, of course, keep paying the minimum on the card until January, when I'd just repay the whole principal. Is there any reason why I shouldn't borrow in this way? Other than upping my credit utilization, it seems like free profit. The only cost is a one-time 1% MBNA "transfer fee". So, $260 up-front.
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Jul 9, 2017 13:51
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Jolarix posted:Question about a balance transfer promo... 260 cost up front, interest income of 275-300, maybe a tiny speck more since rates could rise more than 0.25 in this timeframe... But you won't collect the full six months' interest because you'll pay the bill a few days early. Then you're going to lose a good 20-40% of the interest income to taxes assuming you have a full time job which makes this whole exercise break even at best, more likely a net loss. Equation changes a bit if you were to do bank/utility stocks, time it well, and collect dividends, but then there's the risk of a capital loss and needing to make up the difference from other cash you may not have available. Edit: Some people will say to deduct the balance transfer fee as a carrying cost. I don't know that the CRA officially goes for that, although it's also chintzy enough that auditors probably wouldn't think it's worth their time to pursue. James Baud fucked around with this message at 15:06 on Jul 9, 2017 |
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Jul 9, 2017 14:31
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Great answer thanks. I'm not going to bother with it.
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Jul 9, 2017 21:25
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Subjunctive posted:Public post-secondary tuition in Ontario is set by the province, not market forces. Certain programs can get exempted from the provincial rate policy, like business degrees the talent deficit posted:ubc is basically a REIT with a crappy football team at this point If UBC was more active in renting its massive property holdings it could give free tuition to everyone in the province But it doesn't Lexicon posted:When I was self employed, my accountant told me not to bother paying either. You don't pay cpp by not paying yourself a wage. I didn't pay myself a salary from my consulting business and just declared dividends. I also split the dividends with my wife who owned an equal number of non-voting shares. We paid about 11% tax all in on $90k of income Lexicon posted:Ah this must've been how I got around it. I only took dividends until I wound down the corp Yeah
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Jul 16, 2017 00:00
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Kalenn Istarion posted:Certain programs can get exempted from the provincial rate policy, like business degrees High-demand programs can exceed the nominal limits, but they're still approved by the province for colleges at least.
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Jul 16, 2017 00:16
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Subjunctive posted:High-demand programs can exceed the nominal limits, but they're still approved by the province for colleges at least. The example that comes to mind is the Ivey business program. Laurier tried to apply for an exemption for its business degree some time ago and was rejected. Don't know if they've tried since.
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Jul 16, 2017 00:26
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Tangerine is running their promotional 3% savings interest thing again. I'm wondering, what's to prevent me from moving everything out of my savings and then back into it to benefit from this?  e: Eh, terms make it obvious -- it only applies to deposits that take the balance above the one at the promotion's starting date. Still, knowing they run these promos about twice a year, it'd probably be more efficient to just hold all my savings in my chequing account, and only move them to savings once one of these starts. e2: Given how loving awful everything is about the loonie going up and interest rates too, causing both my bonds and equity to tank, maybe I should liquidate everything and put it in a Tangerine Savings TFSA, I have the contribution room to spare. 
Jan fucked around with this message at 17:55 on Jul 22, 2017 |
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Jul 22, 2017 17:45
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Jan posted:Tangerine is running their promotional 3% savings interest thing again. I'm wondering, what's to prevent me from moving everything out of my savings and then back into it to benefit from this? They take a snapshot your balance when they start the promo. Balance beyond that qualifies for the additional interest.
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Jul 22, 2017 17:47
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Jan posted:Tangerine is running their promotional 3% savings interest thing again. I'm wondering, what's to prevent me from moving everything out of my savings and then back into it to benefit from this? They run the promos every quarter, but you don't always get an offer. Still, it pays to have an account at PCF / EQ and move the money there a few days before the end of each Tangerine promo period. Then you only move it back if you get a better offer from Tangerine. PCF often does the recurring promo offer thing too, but I don't seem to get 3%+ from them as often as Tangerine.
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Jul 22, 2017 19:20
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TD has a $300 for opening one a chequing account with them. Conditions don't seem too onerous compared to any other offer out there if you're into that kind of thing.
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Jul 22, 2017 20:37
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Oh that's nice, I wish I didn't already have all my banking stuff with TD. I was going to do the BMO one but it requires direct deposit from an employer and seeing as I have none, well...
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Jul 23, 2017 00:00
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If you work in Quebec for a few years do you end up getting CPP checks and QPP checks when you retire? How does that work?
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Jul 23, 2017 00:37
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I already used that offer in 2016, which means I'm not eligible based on the "No account closures after November 1, 2015" criteria 
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Jul 23, 2017 00:37
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