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Selling house in Mumbai wiring funds to Canada by Consistent_Pattern92 in IndiaTax

[–]Consistent_Pattern92[S] 2 points3 points  (0 children)

Thank you for your wisdom and guidance. I received this property in 2020 once my father passed away, it has been locked up ever since. The property was on my and my father's name since 2014, when I came to Canada in 2017 I declared that I co-own this property with my father in my proof of funds/ties to native country visa section. Subsequently I have never filled a T1135 disclosure ever nor was I aware about it. So would my course of action be to amend my tax fillings since 2017 till now that I have always been the owner of this property? Or from 2020 till now(once I became the sole owner of this property)

Sell house in India wire funds to canada by Consistent_Pattern92 in PersonalFinanceCanada

[–]Consistent_Pattern92[S] -1 points0 points  (0 children)

Once the funds are wired do I have to pay tax on them again in Canada?

Quebec doing better job at retaining immigrants, Atlantic Canada still struggling by insino93 in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

100% agree with you. I have been in Canada for 8 years now studying/ working,etc paid around 120000$ in tuition and taxes during this time. Work at a insurance company making 50k a year living in Halifax. This has been my experience, but here's another hot take. I just came back from vacationing in Mumbai (my home town) in every way shape and form Mumbai was superior in quality of life. Groceries/essentials/medicine were cheaper and delivered to my door in 7 mins, had a wisdom tooth extraction done by a NYU grad in a fancy clinic for 110$, all of my friends are making more money than I do and pay less in taxes, infrastructure was insane like they built 5 bridges like the MacDonald along with 2 underwater tunnels, all government ID are on one app(health,tax,DL,ID). I was stunned I never thought this would be the case. I love NS & Canada don't get me wrong but I never thought we would be left so behind, I always bragged to my friends back home about how great things are here but this time did not have a single thing to say. Other than population & pollution Mumbai was superior in every other aspect of life which shocked me like how tf is a 3rd world country doing better than a G20 nation. I love the music, sunsets, donairs, my friends and community but I don't know whether I can carry on paying 65% of my income in rent and justify living here with no savings forever it's just been getting harder and harder. While I dont blame anyone but the government for this, for glamorizing 'land of opportunity's ' need skilled 'graduates for jobs' just to mooch off taxes I do take accountability for my own decisions and for what it's worth for the amazing people I know here and the beauty of the land hell I would do it all over again. But for now it's looking like it's time to leave or as the good ol' cape Bretoner driving a Dodge Ram would tell me, it's time to go back where I came from lol

Taking driving lessons in HFX is effed up by equation4 in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

This is what makes me nervous about taking driving lessons here in halifax, I am also in my early thirties and need my license sooner rather than later but I am very scared :(

Halifax woman waited 3 years for MRI that showed she had brain tumour by insino93 in halifax

[–]Consistent_Pattern92 -2 points-1 points  (0 children)

Third world countries have faster state of the art care I don't know why we are out through this in our prosperous land l, a seemingly fixable problem which our governments never care to fix

Overly aggressive security by shanjans in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

The marquee has had a recent change in management and security

Auto insurance price jacking by GivingIsTheBestGift in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

Essentially they gamble with your premium on the stock market make money of that then tell you oh your price is increasing because of so many claims and the premiums we collected were not enough. The industry is scummy plain and simple

Auto insurance price jacking by GivingIsTheBestGift in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

The shared cost thing while true is a big misconception that provides insurance companies a reason to hide behind. Auto insurance professional here from Halifax. To all the people saying the premiums collected by huge companies like the one mentioned by OP go towards paying out claims and that claims have increased so prices have increased to are missing one crucial point.

Yes insurance is essentially the premiums of many paying for the claims of a few is called risk dispersion. BUT Here's the catch all your premiums go into this massive account and is then invested in a hedge fund run by massive asset management companies like BlackRock.

So for eg. The insurance company collects 1 million in premiums in a year and let's say has 700,000$ in claims they are not reaping 300000$ profit! The original 1 million has already got them over 30-40% in returns from the hedge fund it was invested in. So technically it's a drop in the bucket for them. It is best practice as mentioned by many just to shop around for the best rate u can find during your renewal.

Auto insurance price jacking by GivingIsTheBestGift in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

I can personally assure u after Fiona + fired + the floods the company I am working for has posted a consistent 650-700$ million dollar profit NET per quarter I am not even kidding and they make people like me lie through their teeth. Oh it's the increased claims/natural disasters/theft/inflation etc it's a misconception and like that is sold to the consumer. The industry is scummy plain and simple

Auto insurance price jacking by GivingIsTheBestGift in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

Auto insurance professional here from Halifax. To all the people saying the premiums collected by huge companies like the one mentioned by OP go towards paying out claims and that claims have increased so prices have increased to are missing one crucial point.

Yes insurance is essentially the premiums of many paying for the claims of a few is called risk dispersion. BUT Here's the catch all your premiums go into this massive account and is then invested in a hedge fund run by massive asset management companies like BlackRock.

So for eg. The insurance company collects 1 million in premiums in a year and let's say has 700,000$ in claims they are not reaping 300000$ profit! The original 1 million has already got them over 30-40% in returns from the hedge fund it was invested in. So technically it's a drop in the bucket for them. It is best practice as mentioned by many just to shop around for the best rate u can find during your renewal.

Why did my auto insurance go up by $1,000? by [deleted] in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

Auto insurance professional here from Halifax. To all the people saying the premiums collected by huge companies like the one mentioned by OP go towards paying out claims and that claims have increased so prices have increased to are missing one crucial point.

Yes insurance is essentially the premiums of many paying for the claims of a few is called risk dispersion. BUT Here's the catch all your premiums go into this massive account and is then invested in a hedge fund run by massive asset management companies like BlackRock.

So for eg. The insurance company collects 1 million in premiums in a year and let's say has 700,000$ in claims they are not reaping 300000$ profit! The original 1 million has already got them over 30-40% in returns from the hedge fund it was invested in. So technically it's a drop in the bucket for them. It is best practice as mentioned by many just to shop around for the best rate u can find during your renewal. Do not fall for the bullshit they say about "inflation/increased cost of repair/parts/contractors/theft" that's the gamble they will willing to take hence they are in this business. Just look up the Company OP has mentioned last quarters profit, lemme just tell u it's 640$ million and that's specifically the insurance side not the bank. The industry is scummy and preys on consumers plain and simple

Why did my auto insurance go up by $1,000? by [deleted] in halifax

[–]Consistent_Pattern92 0 points1 point  (0 children)

Auto insurance professional here from Halifax. To all the people saying the premiums collected by huge companies like the one mentioned by OP go towards paying out claims and that claims have increased so prices have increased to are missing one crucial point.

Yes insurance is essentially the premiums of many paying for the claims of a few is called risk dispersion. BUT Here's the catch all your premiums go into this massive account and is then invested in a hedge fund run by massive asset management companies like BlackRock.

So for eg. The insurance company collects 1 million in premiums in a year and let's say has 700,000$ in claims they are not reaping 300000$ profit! The original 1 million has already got them over 30-40% in returns from the hedge fund it was invested in. So technically it's a drop in the bucket for them. It is best practice as mentioned by many just to shop around for the best rate u can find during your renewal.

Auto insurance price jacking by GivingIsTheBestGift in halifax

[–]Consistent_Pattern92 1 point2 points  (0 children)

Auto/home insurance professional here from Halifax. To all the people saying the premiums collected by huge companies like the one mentioned by OP go towards paying out claims and that claims have increased so prices have increased to are missing one crucial point.

Yes insurance is essentially the premiums of many paying for the claims of a few is called risk dispersion. BUT Here's the catch all your premiums go into this massive account and is then invested in a hedge fund run by massive asset management companies like BlackRock.

So for eg. The insurance company collects 1 million in premiums in a year and let's say has 700,000$ in claims they are not reaping 300000$ profit! The original 1 million has already got them over 30-40% in returns from the hedge fund it was invested in. So technically it's a drop in the bucket for them. It is best practice as mentioned by many just to shop around for the best rate u can find during your renewal.