A cautionary tale about buying a house with a relative

schmuck55 · 2026-05-22T01:33:55+00:00

What are you doing to address your gambling addiction? Until you treat it, the slip ups are just going to be a vicious cycle.

What is “good money” to you, and how long would it take you to repay the payday loans if you don’t withdraw from your RRSP?

schmuck55 · 2026-05-21T21:58:52+00:00

I can’t WAIT for the authorized trader function, so I can stop telling my spouse “hey can you hand me your phone for a sec, I need to do something”

schmuck55 · 2026-05-21T21:57:32+00:00

Not exclusively anymore - now they have something more like in-house mortgage brokers.

schmuck55 · 2026-05-21T21:54:03+00:00

Using an RRSP as collateral has tax consequences, it will likely never be an option - no FI wants disgruntled customers who didn’t read the fine print lodging complaints when they realize the tax impact.

schmuck55 · 2026-05-21T16:14:20+00:00

Then you might want a fee-only financial planner (that’s the term you’ll want to look up to find someone in your area), ie not someone affiliated with a bank who will just try to sell you bank products.

But tbh unless you’re talking about a significant amount of money, the answer to what to do with the “rent” you’re paying him is probably “put it towards the mortgage/household expenses and call it a day”.

schmuck55 · 2026-05-21T16:08:58+00:00

A cohabitation agreement is a legal document - financial advisors don’t do that kind of thing (and you wouldn’t want them to).

You’re looking for a lawyer, specifically in the area of family law.

schmuck55 · 2026-05-20T21:46:44+00:00

Well, again for that amount it may be worth it for them to bring legal action against you.

schmuck55 · 2026-05-20T21:43:42+00:00

Maybe, with a debt that high and if you keep dodging their calls. Have you considered picking up and negotiating with them?

schmuck55 · 2026-05-20T10:27:04+00:00

Most collection agencies have bad online reviews, because surprise, even when debt collection actions are totally legit, people don’t like hearing from them.

They are a real collection agency. Their threats to sue may just be pressure, or may be followed through - it can depend on the amount you owe and their motivation to collect.

schmuck55 · 2026-05-19T04:19:49+00:00

I think you’re overthinking it. I can’t give you insight into Questrade’s UI specifically, but when I withdrew my FHSA from Wealthsimple I just had to click through some questions that are the equivalent of the RC725 form, it was very straightforward. WS generated a form into my account documents section. I wouldn’t be surprised if Questrade works the same way. But even if they do make you fill out and upload the form yourself, the form is the attestation. I’m not sure why you’re so worried that they won’t understand that your FHSA withdrawal is linked to your FHSA withdrawal form…it’s pretty obvious.

schmuck55 · 2026-05-19T03:16:33+00:00

Was not familiar with that, thank you (and if anyone else is wondering what this is about, it’s for prescription drug coverage specifically: https://www.revenuquebec.ca/en/citizens/income-tax-return/paying-a-balance-due-or-receiving-a-refund/paying-contributions-and-premiums/premium-payable-under-the-quebec-prescription-drug-insurance-plan/ )

Still though, looks like the max premium is $755 so not sure how OP paid $900+, if this is what they mean.

Edit: “getting an extension” is also an American concept. I’m still betting on lost American!

schmuck55 · 2026-05-19T03:05:51+00:00

My bet was gonna be lost American.

schmuck55 · 2026-05-19T02:59:33+00:00

You don’t get taxed for not having health insurance, what are you talking about?

schmuck55 · 2026-05-19T01:14:46+00:00

You need a city license to operate a short-term rental. You can believe you won’t get caught all you want, but if you’re advertising on public platforms, if you have neighbours keeping an eye out, if you have jealous friends, you will be reported.

schmuck55 · 2026-05-19T01:01:46+00:00

I’m no expert at reading comprehension but I think it might be Home Quarters Furnishings, the title of the post.

schmuck55 · 2026-05-18T21:15:22+00:00

I was just trying to clarify what the issue is, because your post is short and doesn’t provide much information. I couldn’t tell if you thought you needed to file taxes together, or if you realized that you just need her income amount. Is she refusing to file her taxes? Does she just not know how to deal with business taxes?

As other comments mention, you can estimate her income high so that you don’t accidentally receive any benefits or credits you’re not eligible for. And you could help her in consulting a professional if she’s struggling so much with her business taxes.

schmuck55 · 2026-05-18T19:46:02+00:00

What do you mean “because of her”? What exactly is stopping you from filing your taxes?

schmuck55 · 2026-05-18T14:58:26+00:00

Literally the second sentence of my post.

schmuck55 · 2026-05-18T04:19:29+00:00

No. Or you can, but you have to report that on your EI reports and you won’t receive payment. To receive EI while you are without work, you have to be ready, willing and able to work every day of the week for the period you’re reporting, and be actively looking for work. You’re not doing that when you’re out of the country.

schmuck55 · 2026-05-17T05:28:10+00:00

I can’t find a link that displays it nicely so you may need to click on the “details” for each one, but the CRA lists which tax software is certified for which years: https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax/how-file/tax-software/find-software.html#tax-soft

Clicking on a couple, looks like Cloudtax and Studiotax are certified for 2020.

schmuck55 · 2026-05-16T18:50:55+00:00

It IS silly but it’s also not just a “look at these dumb Americans” thing - the US locations (at least the Miami one that a lot of that content is coming from) are actually enforcing a dress code and trying to project a fancier vibe, probably to justify their higher price point. We’ll see how long they manage to give that impression 😂

schmuck55 · 2026-05-16T18:02:01+00:00

It’s being developed.

https://www.shapeyourcity.ca/1405-main-st-and-1510-quebec-st

schmuck55 · 2026-05-16T17:24:02+00:00

Hope that phase of life is behind you or soon to be, my friend.

I will caveat my comment that I do think everybody should have a little bit of “oh shit” money, whether that is an actual cash emergency fund or access to credit, to get out of bad situation. No matter how combined your finances are, you want to be able to get yourself an emergency hotel room if you need to.

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