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

Questions tagged [ontario]

For questions that relate to the laws, practices, and products of the Canadian province Ontario.

for questions that relate to the laws, practices, and products of the Canadian province of Ontario.

128 questions
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
15
votes
5 answers

Why would my tenant want me, landlord, to buy his leasehold interest in my own property?

My lessee asked if I'm interested in buying his leasehold interest. He wants to sell his lease to the landlord, me. He's renting my detached house in Toronto until Jun 1 2024. He pays $9 000/month. I'm discombobulated! How does it make sense for a…
user44213
10
votes
1 answer

Defer bonus pay to next year

My employer offers the option of deferring my bonus payment to 2015 i.e instead of taking it in December, I have the option of taking it in 2015. Now, I understand if I was planning to retire/quit in 2015, I may want to take it in 2015 to reduce…
Victor123
  • 16,084
  • 40
  • 133
  • 234
10
votes
6 answers

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. Who will receive the special HST rebates? How…
Chris W. Rea
  • 31,999
  • 17
  • 103
  • 191
8
votes
1 answer

How to pay myself as a single person corporation in Ontario? Should I get an accountant?

I'm an IT contractor and required in some of my contracts to have a corporation. I created my corporation, opened a corporate account and have been collecting income for about 6 months now... ... I should probably pay myself. I learned that there…
mgjk
  • 275
  • 2
  • 6
7
votes
1 answer

In a 2 income family, is it more tax beneficial for the lower income spouse be the Primary Caregiver (Ontario)?

My wife and I just had a new daughter. My wife applied for the 4 in 1 newborn package and she was designated as the primary caregiver and applied for the child care benefits. Since she makes more than me (I'm in a much lower tax bracket than her),…
linstar
  • 231
  • 1
  • 6
7
votes
3 answers

When does Ontario's HST come into effect?

When does the HST become effective? Will all businesses start charging HST right away, and will it replace the 5% GST with a straight 13% tax for all services?
Giablo
  • 1,400
  • 2
  • 14
  • 20
6
votes
1 answer

As a contractor, if my business makes no net profits, do I owe taxes?

Have been working full time, switching to at least part time contract work. I'm looking at starting a company and having all my contract pay go through it. Assuming I'm also working at least part time at a different company, let's say my company…
StackOverflowed
  • 139
  • 6
6
votes
1 answer

Ontario HST Rebate: Is the HST rebate taxable / to be included in one's income?

Is the HST rebate taxable?
s lamb
6
votes
1 answer

Family/divorce lawyer wants large retainer before taking on case. Is this normal?

My friend needs to get a separation agreement and divorce. The law firm she called asked for a retainer of several thousands of dollars up front before doing any work. Is a large retainer normal for this kind of legal work?? Why? She lives in…
user
  • 61
  • 2
6
votes
1 answer

Will CRA suspect, if you never filed and now retroactively files taxes?

Someone in family employed for past 15 years, but his income never outstripped ON's Basic Personal Amount. It's $13,229 in 2020 He just found today if even though he never had paid any tax, filing taxes can earn tax credits and RRSP contribution…
user40269
5
votes
1 answer

Ontario HST rebate: I live in Quebec. Are the rebate cheques for Ontario residents only?

HST cheques are for Ontario residents only? Thought it was Canada. I live in Quebec. So we don't receive a cheque? But will have to pay the HST on all items purchased?
ml
5
votes
1 answer

I am married and currently being sponsored. I have a taxation number when filing taxes. How much HST rebate will my family receive?

I am married and currently being sponsored. I have a taxation number when filing taxes. How much HST rebate will my family receive?
carmen
5
votes
1 answer

Canada/Ontario Principal residence exemption

I bought my house in 2013 and have been renting it to present time. I never lived in it. I am thinking of starting to live in the house in 2025 and 2026 and then sell it in 2027. What do I have to do to claim the house as my principal residence? Do…
user122866
  • 151
  • 5
4
votes
1 answer

Ontario HST Rebate: What was the mailing date of the June, 2011 HST rebate cheque?

What was the date that the June, 2011 HST rebate cheques were mailed? I have my bank statement that covers up to June 17th and the HST cheque was not deposited by that time.
Steve
  • 41
  • 1
1
2 3
…
8 9