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How much do you know about financial independence?

April 21, 2015, 5 p.m.
Posts: 124
Joined: Nov. 30, 2010

TFSAs go to $10k per year, effective immediately. Fill er up while you can! (election pending…)

http://www.cbc.ca/m/news/topstories/budget-2015-tfsa-limit-hiked-to-10-000-as-election-budget-delivers-few-goodies-1.3040853

I am all over this. Mr Harper can still take a LOOONNGG walk off a short peer though!

April 21, 2015, 6:39 p.m.
Posts: 18790
Joined: Oct. 28, 2003

Trudeau says he will eliminate it if you have Harper walk the plank.

I think its time fir ol Justin to know the little man wants to invest tax free too.

April 21, 2015, 6:57 p.m.
Posts: 7707
Joined: Sept. 11, 2003

You get to deduct it from your income!

Tuition, plus monthly enrollment stipend plus textbook amount - but you only get get only a 15% tax credit for your deduction. Not quite the gold mine but still better than nothing.

If you have a kid and worked part-time while you went to school, and made $30,000 and your wife made $60,000, you would get about the same deduction for the family tax cut as your education amount.

April 21, 2015, 8:06 p.m.
Posts: 18790
Joined: Oct. 28, 2003

What in the hell am I doing reading the Federal Budget??!?

http://www.budget.gc.ca/2015/docs/plan/budget2015-eng.pdf

April 21, 2015, 9:40 p.m.
Posts: 124
Joined: Nov. 30, 2010

Trudeau says he will eliminate it if you have Harper walk the plank.

I think its time fir ol Justin to know the little man wants to invest tax free too.

According to his ad that is playing constant rotation on the PEAK FM, he is for the "middle class" [HTML_REMOVED] "those trying to join them". Now he is already trying to hold me down? Damn you Justin! :flame: Green Party Lady it is!

April 23, 2015, 9:04 p.m.
Posts: 7707
Joined: Sept. 11, 2003

Get paid to borrow money

http://www.nytimes.com/2015/04/24/business/get-paid-to-borrow-money-risks-and-limits-apply.html

April 24, 2015, 10:53 a.m.
Posts: 549
Joined: Sept. 2, 2010

^ I think the "who contributes to TFSAs" stats may be a bit misleading. Lot's of grey hairs were probably taking their RRIF funds and throwing them in TFSAs.

April 24, 2015, 12:28 p.m.
Posts: 18790
Joined: Oct. 28, 2003

http://www.cra-arc.gc.ca/tx/rgstrd/papspapar-fefespfer/lmts-eng.html

The fastest implementation of anything government related I've ever seen!

April 24, 2015, 1:34 p.m.
Posts: 16818
Joined: Nov. 20, 2002

Well, there is that income splitting thing, which was "sort of" implemented even before the budget that included it was tabled.

When one person suffers from a delusion, it is called insanity.

When many people suffer from a delusion, it is called religion.

April 24, 2015, 1:36 p.m.
Posts: 549
Joined: Sept. 2, 2010

^ I thought that having the income splitting provisions on the tax returns then presumably accepting said returns and issuing refunds based on those returns - all prior to the budget passing - was fairly quick.

April 24, 2015, 7:37 p.m.
Posts: 809
Joined: Dec. 22, 2002

NSMBA member.

April 24, 2015, 7:38 p.m.
Posts: 809
Joined: Dec. 22, 2002

NSMBA member.

April 24, 2015, 7:59 p.m.
Posts: 14922
Joined: Feb. 19, 2003

Not really the right thread for that.

April 25, 2015, 6:34 a.m.
Posts: 809
Joined: Dec. 22, 2002

Right then, back to "I got my green, hope you got your's, sucker". Carry on…

Sent from my iPhone using Tapatalk

NSMBA member.

April 25, 2015, 9:16 a.m.
Posts: 18790
Joined: Oct. 28, 2003

Well, I don't expect anyone else to provide mine, and I certainly don't have yours.

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