Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [canada]

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

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

1519 questions
94
votes
12 answers

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?
S. Chang
  • 1,145
  • 1
  • 8
  • 7
68
votes
11 answers

Rent cheque was stolen from landlord - am I obligated to pay again?

I live in Quebec, and my rent cheque was stolen from my landlord as they travelled to the bank to deposit it. They've asked me to stop payment on the cheque, and provide them with a new one. The stolen cheque was not cashed, but I stopped payment,…
lrey
  • 887
  • 1
  • 6
  • 5
66
votes
2 answers

I won a car in a poker game. How is that taxed in Canada?

For the sake of title transfer and taxes, is this a gift or a sale? This was a private game. We both tossed our keys into the pot. I won and the vehicle is now sitting on my driveway. I live in British Columbia, Canada. I don't know if this is…
user47387
50
votes
11 answers

Is it principled to tip less if a pricey restaurant doesn't accept Visa or Mastercard?

Last month, I spent $230 CAD at a restaurant. Yesterday I spent $150 CAD at another restaurant. Both high-priced restaurants in Toronto accept just cash or debit, no credit. I'm using final prices, after tax and gratuity. I'm just talking about…
user44213
48
votes
12 answers

How can sister protect herself from impulse purchases with a credit card?

My little sister is 18, and currently has a bank account with a debit card. She and mom believe it might be time to get her a credit card, mostly to build up her credit rating than out of necessity. The thing is, she fears she might abuse this…
hellicat
  • 463
  • 1
  • 4
  • 6
48
votes
6 answers

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 with increased income: If I earn $91,830, an…
maservant
  • 479
  • 4
  • 4
43
votes
4 answers

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 concern for counterfeit currency) – in that case shouldn't…
Cherie-Lynn
  • 431
  • 1
  • 4
  • 3
41
votes
1 answer

Canadian citizen, TN worker, commute daily from Canada: am I a US person for tax purposes?

I only have citizenship of Canada. I work for a US company on TN Status. I commute daily from home in Canada to office in US and back. I do not reside in the US. I get a W2 and file taxes with the IRS every year. I have property and equity only in…
Keerikkattu Chellappan
  • 523
  • 5
  • 8
40
votes
14 answers

Why would someone get a credit card with an annual fee?

I currently just have a Visa credit card. A place I shop at doesn't accept them. I'm looking at getting a second credit card such as Mastercard. I am surprised by how many highly recommended cards there are with annual fees. Why would someone ever…
titchseason
  • 1,129
  • 1
  • 9
  • 16
39
votes
4 answers

How do I lend money to a friend for a car and put the car as collateral?

A friend of mine wants to buy a car, but does not have the money for it. Instead of him going to a bank and borrowing the money to buy the car, I was thinking of maybe taking some cash from my bank account (that is currently only earning 2% a year)…
Jonathan
  • 415
  • 1
  • 4
  • 3
38
votes
6 answers

Ex-husband is trying to find out my banking info

My ex-husband keeps trying to find out my banking information. We have been divorced for 3 years but still involved in the family court system. Over the past years, he's opened closed accounts, brought his girlfriend along with him to the bank to…
Jen
  • 397
  • 1
  • 3
  • 3
37
votes
8 answers

Should I pay more towards my mortgage?

I have worked for the past 5 years to get out of debt, pay my bills, and own a home. I'm glad to say that all my debts are paid off, my bills are paid every month, and my mortgage is cut by 10 years time, since I pay a little extra toward it. I have…
Canadian Luke
  • 961
  • 9
  • 21
36
votes
10 answers

Car buyer wants to pay by actual cash - what are the motivations and risks?

My partner was is listing her car for sale (about $9-10K CAD). She got contacted by someone who wanted to pay with cash bills. He was somewhat reassuring about the obvious risks of walking around with a lot of money, but it still felt offputting: …
Italian Philosopher
  • 527
  • 1
  • 4
  • 7
32
votes
9 answers

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 without a new house. Or stuck settling on or…
Hlick
  • 631
  • 2
  • 7
  • 9
32
votes
4 answers

Why do most banks in Canada charge monthly fee?

I am not sure about other countries, but here in the UK we mostly don't need to pay a monthly fee. But I was a bit surprised to learn that most Canadian banks do charge monthly fees that some of them advertise a free first year as a special…
Rafid
  • 439
  • 4
  • 6
1
2 3
…
99 100