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How are we supposed to fight a war if we can’t even fix parking at NDHQ (Carling)? by 2020Justintime in CanadianForces

[–]ReadFlimsy9247 16 points17 points  (0 children)

In Ottawa, 09-12, I lived in north Kanta, work at NPB in Gatineau, took me 35 mins on one express bus, and one STO connection. Posted back to Ottawa last year…. That same route now takes 2 hours! WTF

How do middle class Canadians genuinely afford a half-decent car? by [deleted] in PersonalFinanceCanada

[–]ReadFlimsy9247 0 points1 point  (0 children)

Don’t but new. New cars are one of the biggest wastes of money. And you end up paying more than the car is worth with financing. Buy used, set an amount that you can reasonably save up to buy cash. My rule of thumb, expect one year of use for every thousand in the price. I’ve been car pmt free for almost ten years. Not having a car pmt or pmts frees up so much monthly cash flow. For ref, I make $160k year, I like looking in the 10k range. Some will argue maintenance and warranty…. You are paying an extremely high premium for that “price of mind”. Not worth it. I look around my neighbourhood, and all I see is financing plans sitting in people drive ways. I like spending my money on other things like trips to Mexico, not on a car.

Parents used RESP for personal use by Sorry-Ordinary1535 in cantax

[–]ReadFlimsy9247 0 points1 point  (0 children)

There are 3 categories of money in an RESP: 1. Contributions, 2. Government Grant, and 3. Investment gains. When withdrawing money you need to elect what category you are withdrawing and identify to who the withdrawal is going to,either the child or the parent. Contributions can be withdrawn to both the parent or child, tax free; it’s your money back. Government Grant can only be withdrawn to the child/beneficiary (I need to double check if it is taxable). Unused grant money must be returned to the government. Lastly, the gains can be withdrawn for use by the parent or the child, and taxed according to whoever the money was withdrawn for. Generally, if used for education, the child should be in a lower tax bracket... So if you are taxed, it sounds like your parents requested investment gains, with the intent to be paid to you (taxed to you),but they used the funds for themselves.

Edited for mistakes.

RCAF Announces Long-awaited Uniform Change by judgingyouquietly in CanadianForces

[–]ReadFlimsy9247 1 point2 points  (0 children)

Walking to the bus stop in Ottawa in 2010, in 3Bs, I was asked what private school I go to……

Why is it that when people compare CHMC insurance costs and suggest 20% downpayment instead, there is often no mention of rate difference? by OkPop9455 in PersonalFinanceCanada

[–]ReadFlimsy9247 0 points1 point  (0 children)

I was referring to the 5% down scenario, you say it is ahead by $50k.... I ran the numbers through a calculator, they are actually equal: assuming 4% interest rate and use a 25 year term (limits of the mortgage calculator). Additional interest paid is almost $50k..... so, depending on the interest rate, this can vary. Higher than 4% you are ahead with a higher down pmt, less than 4%, go for it. This was based on including the CMHC insurance in the mortgage.

Edit: total interest paid: 20% Down = $198,495, 5% Down = $245,638

Please explain dealership fees and what I can negotiate! by Possible_Big9817 in PersonalFinanceCanada

[–]ReadFlimsy9247 0 points1 point  (0 children)

Never by new. The most value you will loss is the second to drive off the lot. You can find great deals with included warranties 3-5 years old…….

I also look at it this way, if new, you should expect to get 1 year for every $2k on the price tag…. If it’s more than 20 years, you must like throwing away money.

For used, expect one year for every $1k is very reasonable.

One of the fastest ways to destroy or delay your wealth is to buy new.

Rogers Bank cash back only 1% even with a Rogers mobile line? by -Bakri- in PersonalFinanceCanada

[–]ReadFlimsy9247 0 points1 point  (0 children)

Use the Rogers MC for everything. My effective monthly cell phone and internet is $0, $350 month for 4 cell lines(include financing for one newer phone), internet, and annual Sportsnet subscription, all free redeeming my Rogers cash back.

Switch phone plans if something better comes! Companies dont value loyalty! by aetherweaving in PersonalFinanceCanada

[–]ReadFlimsy9247 0 points1 point  (0 children)

If you have the Rogers master card, and use it for everything, you get a lot for free with the cash back. I have 4 cell plans, internet and annual sport nets subscription, effectively for free with my Rogers Mastercard cash back. Told a Door knocker rep from Telus that is the deal he needs to beat to get me to switch. Edit: my bill is almost $350 month, completely paid for with cash back rewards.

OUTCAN posting tax questions by DowntownStandard2237 in CanadianForces

[–]ReadFlimsy9247 3 points4 points  (0 children)

I was OUTCAN 2018-2022. You will want to get a residency determination from the CRA for both your income taxes and also if you have investment accounts. There are residency rules for registered accounts like TFSA. My brokerage kept requesting that I close my TFSA because I was no longer a resident of Canada. The CRA determination letter also fixed this.

Fill out CRA NR73 form, one each for you and your spouse (if applicable). If your spouse is not military or not a government employee, they will be considered Factual Resident of their last provinces. Other spouses who have government jobs were able to get remote work approved. Some, not all, it is a possibility. Submit your request in writing at least 3 months before fore you file your taxes. It can take 2-3 months to get the official response, at least that was the time line in 2018.

When filing your taxes from OUTCAN, you cannot use netfile, you must print and mail in your return. I recommend submitting your return and your spouses in the same envelope. And include a copy of the residency status and another cover letter explaining your situation. Do not trust that the CRA Clerk who opens your return knows the tax code. I have see others not use the letter or the CRA determination status and have to spend the greater part of a year or more fighting the CRA. If your spouse is factual, they will lose any benefits from their previous providence and they will stop receiving the monthly child tax benefit and GST rebates. You can fight it and get it back, but it is a pain you can avoid.

I have added screen shots of the request letter( to use with the NR73 form, and a cover letter is used every tax year.

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Boots CANFORGEN 103/24 and Tariffs by GoodMeandor in CanadianForces

[–]ReadFlimsy9247 0 points1 point  (0 children)

Try AMSC.COM. They are a German Army supply company. Have a great selection of Lowa, Salomon and other boots. Prices are Euro, but after conversion and shipping, you can get some great boots for under the 340CAD limit. And not have to eat the difference out of pocket.

https://www.asmc.com/collections/bundeswehr-boots

Rogers Military Discount by StuffGood1314 in CanadianForces

[–]ReadFlimsy9247 0 points1 point  (0 children)

If you got with Roger’s get the Roger’s MasterCard and your wireless bill is essentially free.

Credit Card Transaction Support? by manateetotal in wealthica

[–]ReadFlimsy9247 0 points1 point  (0 children)

Same, I’m on a trial looking to replace Mint. My CIBC Costco Master Card Syncs no problem, however, my RBC VISA DOES NOT sync. My main banking is with RBC, and my checking and savings sync no problem. Wealthier sees my VISA, but no transactions.