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  1. Margin account interest for combination dividend and non-dividend shares

    I do have a margin account and based on the money I borrowed I am paying interest. Some of the shares that I am holding are paying dividends every quarter and some do not. During a year some of shares dispositioned (maybe even before paying dividends) but I have always received dividends...
  2. Why need for minimum payment on line of credit that still has available funds?

    General Personal Finance Talk
    Hi All, Why do banks require a minimum monthly payment on a line of credit that still has available funds? I find myself in the situation where interest is charged each month and debited to my account. I then have to transfer money from my line of credit to my chequing account, and then back to...
  3. Joint Account Interest Reporting on Tax Returns

    I have a joint savings account with my spouse. I had income last year while my spouse did not have any. Can I show all the interest income on my wife's Tax returns or do I have to split 50% for each of us? Thanks
  4. Can I pay a lump sum to Osap and then extend my grace period?

    General Personal Finance Talk
    I just graduated in April and I am continuing school in a post-graduate certificate program that is not eligible for osap. So I need to pay upfront. That, with new car expenses will be a lot of money. So I want to extend my grace period for osap in October (once my automatic 6 month grace period...
  5. How to calculate the true cost of borrowing (mortagage) over the first 5 years?

    Real Estate
    I currently have a mortgage of $360,000 (30 years) at 2.6% signed for 5 years and it has been 6 months (so 4.5 years left) A new bank is offering me a rate of 2.5% but I need to pay a penalty of $2,000 to the first bank to transfer it over (blended into my mortage). So I am trying to calculate...
  6. Borrowing from LOC to invest HISA

    General Personal Finance Talk
    Hi, I'm in a fortunate position where as a perk of the company I work for, I can borrow up to $350K at only 1%. I'm looking at maxing this out and just dumping all the money in a High Interest Savings account that pays 1.6%. My calculations indicate I'd make $2,100 a year for basically doing...
  7. Can I write off full HELOC expense even if my business makes money?

    Hi all, Need some tax help.. Here's my scenario.. I'm starting a business using HELOC money (home equity line of credit). I know I can deduct the interest expense. But here's the question - say my business makes $10k profit in its first year. Can I apply this $10k towards my mortgage...
  8. Personal loans to friends

    General Personal Finance Talk
    On the news a couple of years ago, in BC, they said that if you are NOT an financial institution, it was illegal to charge interest on any money that you have lent out. This would fall under the Loan Shark Law. Now I live in Alberta. And apparently it is ok in Alberta to charge interest if you...
  9. Basics: looking for help to start investing

    Iam currently 24 years old and by year end have approx $73,000 sitting in a savings account with very low interest. I have zero knowledge on investing, i have a TFSA maxed out for the current year, and i plan on dumping 25k into my RRSP this year (lots of room) for the Home buyers plan one day...
  10. Any mortgage experts here?

    General Personal Finance Talk
    I've noticed that my bank has been pulling my automatic mortgage payment a few days early for some time. An example is my May 19 payment came out yesterday morning May 15 from our account. I'm not sure if there should be a corresponding reduction in interest paid as the payment is coming out...