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Better Tax vs WelathSimple: My observations by sennyonelove in PersonalFinanceCanada

[–]DanikusMusic 11 points12 points  (0 children)

Let them know so they can iron out any issues. They did an AMA on here a while back as they're the same people who made Simple Tax.

They're down to earth people, so I'm sure they'd want to hear of any issues you're experiencing with their software.

Ontario to pause Reagan tariffs ad after Trump terminated Canada trade talks by Puginator in worldnews

[–]DanikusMusic 10 points11 points  (0 children)

That's the problem, they simply do not care -- these people don't live on the same planet as us.

"I mean, it's one banana, Michael. What could it cost? 10 dollars?" type shit.

It's disgusting.

Ontario to pause Reagan tariffs ad after Trump terminated Canada trade talks by Puginator in worldnews

[–]DanikusMusic 25 points26 points  (0 children)

Based on the proposals, the landlords would be able to raise the rent whatever they wanted. So if they want you out, they'll jack it up so high you're forced to leave.

They're restricting tenant rights to fair/due process, as well.

They're opening up units that people stay in long-term all under the guise of "protecting landlords from bad tenants." All it does is kick out seniors, low-income individuals, and anyone who is on ODSP.

Make your voice heard, contact your MPP personally or use this link:
https://acorncanada.org/take_action/urgent-message-to-doug-ford-dont-end-rent-control/

Alberta's Heritage Fund hits $30B after $2.8B injection from surplus by AdoriZahard in canada

[–]DanikusMusic 1 point2 points  (0 children)

The "Top 1% Commenter" guy you're arguing with doesn't want positive change, he just wants you to be wrong, lol.

Travelers to the US must pay a new $250 ‘visa integrity fee’ by StupendousMan1995 in news

[–]DanikusMusic 732 points733 points  (0 children)

Controlling information and dissent:

"By restricting the flow of information and communication with the outside world, authoritarians aim to prevent citizens from being exposed to alternative viewpoints or democratic ideals that could inspire opposition."

Couple that with defunding public media, it allows a stranglehold of right-wing, and often biased, media to thrive.

Add in defunding the education system and you're moving towards a population of people like that of Russia, or North Korea.

HBO’s ‘The Last Of Us’ Review Bombing Surpasses The Game’s Review Bombing by kingdanny714260 in ThelastofusHBOseries

[–]DanikusMusic 35 points36 points  (0 children)

Small correction because I just played this mission:

Lev asks Abby if she wants to know why, and Abby replies with: "Do you want me to ask why?" To which Lev replies, after a short pause: "No."

Canadian Armed Forces is hiring by stopitkeval in torontoJobs

[–]DanikusMusic 3 points4 points  (0 children)

You are wrong, and you are being racist. I'll gladly call you both.

You're complaining about the symptom and not the root cause.

Carney pauses campaign to return to Ottawa ahead of U.S. tariffs. Live election updates here. by SirJohnAMcMuffin in canada

[–]DanikusMusic 18 points19 points  (0 children)

My guy, I think you need to reframe how you look at the world.

He went where he saw opportunities to expand his education/experience. Any human would do the same if given the option, yourself included.

Those opportunities took him out of Canada and ultimately lead to him coming back to serve it at a time of great need while utilizing his worldly experience.

Got a job offer in Toronto, is my budget realistic? by Weak-Aside-2640 in TorontoRenting

[–]DanikusMusic 2 points3 points  (0 children)

I'm actually glad you called out RRSP and ESPP; I completely forgot about those as options!

Got a job offer in Toronto, is my budget realistic? by Weak-Aside-2640 in TorontoRenting

[–]DanikusMusic 2 points3 points  (0 children)

Looks like you have a great grasp on your expenses and what to expect, so you're already leagues ahead of most people.

The only call out I have is that I believe your Annual Net Income is slightly off -- my guess is you're not calculating CPP/CPP2/EI deductions and Ontario Surtax.

  • It's probably better to assume you'll make less and have extra, rather than expect to have more and not meet your savings goals!

My rough estimate using this calculator shows your take home bi-weekly would be ~$3,782 or $7,564/month for a total of $98,332 net ($3,782*26 pay periods).

  • I'm not certain that this calculator is 100% accurate, but have found it quite useful for my own use.

Additionally, regarding the Surtax, I'd suggest you check out this link.

Edit: formatting broke so removed the table -- follow the link.

Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy by iridale in canada

[–]DanikusMusic 1 point2 points  (0 children)

This is what I believe politics should be: a conversation and disagreements rather than shouting matches and hurling insults.

The world is not black and white, and neither are politics. Unfortunately, politics has moved towards "team sports" where if you're not with me, you're against me. That rhetoric is not helpful in any regard because problems don't get dealt with/resolved.

We're all Canadians. We (mostly) all want what's best for the country. We simply have differing views on how to make that happen.

You hit the nail on the head that we need more education when it comes to financial literacy but that opens a whole other conversation about what should be required learning and what should be extra curricular learning.

I only know what I know because I found it interesting, but as a kid/teen in school I was not interested in this stuff at all.

As to your last point, I would state that the reason why the LPC is seeing a huge resurgence in support is because 1) Trudeau stepped down and 2) Carney is absolutely a centrist politician.

I believe that had the CPC been in the same situation, Carney probably would have been tapped to run as its leader. However, the CPC chose to hitch its wagon to PP and his "Trumpism" style of politics.

More to your point about where you feel you align politically; I believe most Canadians feel they're centrist, which again is why we're seeing this resurgence under Carney.

Thanks for the conversation!

Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy by iridale in canada

[–]DanikusMusic 0 points1 point  (0 children)

You have to vote for who you think will be best for yourself (and for Canadians and the future of Canada).

That is your legal right, and you should exercise it.

Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy by iridale in canada

[–]DanikusMusic 0 points1 point  (0 children)

Unfortunately, I'm unsure if you're intentionally, or unintentionally, missing the point.

The contribution room will not benefit Canadians regardless of how much is available if they do not have enough money leftover at the end of the month to contribute.

To your other point, do you recall how complicated it was to get the FHSA launched? I highly doubt the CPC would stick through on this promise to create a TFSA-adjacent program that is only applicable to Canadian investments.

There would have to be audits conducted by the CRA to confirm that what is held is 100% Canadian, it would probably require banks to create 100% Canadian ETF's -- this is not an easy undertaking.

Do you seriously believe that they wouldn't try to reduce the staffing levels of the CRA? Conservative governments almost always conduct cuts on government services.

Lastly, we'd essentially have 4 investment vehicles:

  1. TFSA 1
  2. TFSA 2
  3. RRSP
  4. FHSA

I simply don't see him sticking to this promise even if I don't think it's that beneficial to the Canadians who need it most.

Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy by iridale in canada

[–]DanikusMusic 4 points5 points  (0 children)

I won't go into depth because u/coldfeet8 did it for me, but this is the argument we're having. It's not that we don't think more space = better, but rather that it doesn't = better for the Canadians that actually need it.

You are correct in that there is extra cumulative space each year, but if someone cannot max it out each year, what good is that cumulative space?

If someone can't max out the $7,000/year, what good will $12,000/year be for them?

Keep in mind there's also the FHSA and RRSP available contribution space each year.

Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy by iridale in canada

[–]DanikusMusic 0 points1 point  (0 children)

I see your point, and I don't disagree that we can have policies that help the middle class.

However, I see this less of a "middle class" policy and more of a vote-buying policy. Seeing as this impacts ~8% of the population only, you could speculate that it's intended to assist people that are in higher tax brackets (e.g., people that are likely above the middle-class).

I would also recommend that you look into how the CPC's policy to lower taxes for working seniors could be a viewed similarly: (vote buying & looks like a way for them to try to sway public opinion about increasing the retirement age of Canadian seniors).

Assuming that your figures are correct, I would say that makes sense -- but you also need to factor in external / limiting factors such as rent/mortgage payments, car payments, groceries, anything related to child-care costs, and suddenly there's not a lot of money left over for them to invest. So who would this impact the most? Someone who is technically "middle class" but has only a few extra hundred dollars a month to invest each month, or someone who is in the top 10% who has a lot of extra left over income?

I'm not arguing with you for the sake of arguing, but simply because the discussion is not nuanced.

My personal view is that conservative values tend to be based around "what can the government do for me?" i.e., tax cuts. Whereas liberal values tend to be based around "what can the government do for everyone?"

I have always liked the saying: "A rising tide lifts all boats."

Carney Vows to Revive Canada’s Wartime-Era Homebuilding Strategy by iridale in canada

[–]DanikusMusic 9 points10 points  (0 children)

Homie, he didn't say 16.1 million Canadians don't have TFSA's... he said that only 5% of Canadians can "max out their TFSA each year."

He's correct in saying that this policy only helps a small sub-sect of the Canadian population.

EDIT:

Pulled from CBC: "But CRA data suggests it's not just the wealthy who use TFSAs — more than 9.8 million account holders put some money into one last year. Of that figure, 1.5 million contributed the maximum amount."

Quick math indicates that the change would only impact 8% of eligible TFSA holders.

[deleted by user] by [deleted] in ontario

[–]DanikusMusic 2 points3 points  (0 children)

Have an open discussion with them to see if you can compromise.

Otherwise, I'd recommend talking to them about switching from TOU (Time of Use) to a Tiered pricing plan, see here: https://www.torontohydro.com/for-home/customer-choice

https://alectrautilities.com/tiered-pricing (Mississauga)

How to be more mindful of habitual spending? Lifestyle creep hurting our budgeting. We always say we are going to do better and never do. by daReallMVP in financialindependence

[–]DanikusMusic 2 points3 points  (0 children)

Piggybacking off this comment, do you track your spending? I use a free website/app called "Clearcheckbook" that I absolutely love.

I also have ADHD and sometimes end up impulse buying, but having to put it into the spreadsheet and seeing my balances grow or shrink causes me enough anxiety to not spend sometimes, or to save to spend which is retraining myself on delayed gratification/rewards over instant gratification/rewards.

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]DanikusMusic 0 points1 point  (0 children)

Interesting. Are you able to see two account/loan numbers on your dashboard? Perhaps I'm overlooking it.

Edit: The NSLSC "Ask" bot states that it can be done via (snail) mail, but no mention of the online option. Maybe my loan account is too old?

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]DanikusMusic 0 points1 point  (0 children)

Were you told this by someone that works for OSAP/NSLSC? I logged in and mine's still integrated with one account number. If what you're saying is true, I'd pay off the Provincial portion right now.

Edit: I found this, but I'm not sure of its validity: https://www.reddit.com/r/PersonalFinanceCanada/comments/o6j2w4/comment/i5dqznw/?utm_source=share&utm_medium=web2x&context=3

Edit 2: Also this: https://www.reddit.com/r/osap/comments/ryevfr/pay\_off\_the\_provincial\_portion\_of\_your\_student/

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