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Marriott Rewards Premium Visa Credit Card

  Chase Canada has revamped the credit card it offers in partnership with Marriott-Ritz Hotel chain to make it a pretty exciting offer. The card has been offered since last year, but since recently it is being promoted with great fanfare. The Marriott Rewards Premium Visa Credit Card comes at a cost 120 dollars per year fee, but it will be waived for the first year. The Marriott … [Read more...]

New Code to Help Understand Mortgage Prepayment Penalty

If you are thinking about pre-paying your mortgage but are reluctant because of prepayment penalty and the complexity of the issue, help is on your way. The Canadian government has issued a new code for banks to be more transparent about the penalties for prepayment and help clients understand how they are arrived at. Under the new guidelines, banks are supposed to: provide information on an … [Read more...]

2011 Canadian Tax — Children’s Art Tax Credit

The 2011 Tax filing time is approaching and SmartCanadian will bring you some tips on what has changed compared to the previous years. One of the new additions from 2011 is the ‘Children’s Art Tax Credit’ (CATC). You can claim a maximum of 500 dollars paid as refundable tax credit per child off the fees paid in 2011 related to the cost of registration or membership of your, your spouse’s or … [Read more...]

Free Goodies Non-Taxable

We all love when we win free goodies at the stores. But do you know that in Ontario, they also come tax-free? With the new Harmonized Sales Tax (HST), replacing the federal General Services Tax (GST) and the Provincial Services Tax (PST) which were levied separately, there is some confusion about what are taxed. Yes, this is something even some stores forget; for example, if you have a … [Read more...]

More On Aeroplan Miles

Aeroplan is running a special conversion promotion program until December 12th. The program allows your points from other, partner programs to be converted into Aeroplan Airmiles. The Partner Programs include Starwood Preferred Guest (SPG), Marriott Rewards, Hilton Honors, Points.com and Hertz. Aeroplan is also offering bonus Aeroplan miles when you convert. For exazmple, if you convert … [Read more...]

Breaching A Tenant-Landlord Contract

  When you move into an apartment as a tenant, you have rights and obligations. One of the key points of a tenant-landlord agreement is that it allows the tenant to live in the apartment for a specified period of time, usually a year, without a rent increase. On the other side, the tenant also commits to live in that apartment for that one year. What happens if the tenant wants to … [Read more...]

If You Have Over-Contributed to RRSP

The traditional RRSP payment season for 2010 just ended, and in case you suddenly realized that you have over-contributed, don’t panic. There are some avenues for recourse. First of all, some basic data: Assume your contribution room for 2010 was Cdn. $ 5000.00. RRSP contributions are voluntary, and you had time 60 days after the end of the year to make the contributions. If the 60th day … [Read more...]

Fixed-Rate or Variable Rate Mortgage?

Should you sign-up for a fixed-rate mortgage or should you go for a flexible (variable) rate? This is a question many a house owner, and would-be house owner, faces. Or, in the case you are wondering loud about buying a house, should you in the first place? Moshe A Milevsky, who is a professor at the Schulich School of Business at the York University, recently wrote a very informative piece … [Read more...]

Credit Card Analysis – TD Business Travel Visa Card

SmartCanadian begins a series of analyses of Canadian Credit Cards. In Part One, we analyse the TD Business Travel Visa Card. TD Business Travel Visa Card This is NOT a free card. The annual free is $149, and additional cards cost $149 each. Annual interest rate is 19.75% on purchases and 21.5% on cash advances. How You Earn TD Points For every dollar you spend, you will earn 3 … [Read more...]

Three Points We Need to Know About Credit Rating

Maintaining a good credit rating is vital for anyone. While we all know the importance of prompt payment of bills, and trying best to pay in full, there are three points we often forget and can affect our credit score and rating. Generally, too many people asking about your credit rating in a short period of time is not helpful. The exception is when you yourself request a report. So, it is … [Read more...]

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