Random Questions Mega Thread v1.1

[DoubleF]

Originally Posted by lazypucker

I was thinking a family of 6 cramped in an old Corolla struggling to get to 80km/h on Stoney...

That's not a car issue, that's a driver issue.

About 110 HP with 5 passengers in it will still hit 130 kmph on a flat road if you put your foot down to the floor. 140-150 kmph if there's a little bit of down hill. I've done it/been in vehicles with this much HP that have done it.

[Slava]

You can coast down some of the mountains in BC and go really fast. I was there a couple weeks ago, coasting down, and I don’t want to say the speed. Fast enough that my wife just glared at me and said “I think that’s enough”.

[DoubleF]

Originally Posted by Slava

You can coast down some of the mountains in BC and go really fast. I was there a couple weeks ago, coasting down, and I don’t want to say the speed. Fast enough that my wife just glared at me and said “I think that’s enough”.

I have a buddy who was scared to exceed 120kmph on the highways. I drove to Kelowna with him one summer. At one point I asked if he was in a rush to do a washroom break or something, because he was casually oblivious to the fact he was going more than 140kmph on a down hill. He was just enjoying the scenic drive and assumed the vehicle would start to shake violently if he accidentally drove too fast and exceeded the maximum speed limit by more than 15-20 kmph.

[CorsiHockeyLeague]

I'm on a floating rate plan with enmax for natural gas. The foxed plan is 4.99/gj for five years. Is it a good idea to switch? Is floating about to be a crazy thing to be doing?

The 3 year fixed rate is 4.59/gj and the futures seem to average below 3 bucks, so even with the .99 enmax admin fes, floating seems better... yet someone I know is telling me it is armageddon and to get on fixed asap.

Am I missing something?

[Fuzz]

Without knowing what Armageddon your source thinks is coming, it's tough to say. Are they more a prepper, or an insider with actual info?

[bizaro86]

Originally Posted by CorsiHockeyLeague

I'm on a floating rate plan with enmax for natural gas. The foxed plan is 4.99/gj for five years. Is it a good idea to switch? Is floating about to be a crazy thing to be doing?

The 3 year fixed rate is 4.59/gj and the futures seem to average below 3 bucks, so even with the .99 enmax admin fes, floating seems better... yet someone I know is telling me it is armageddon and to get on fixed asap.

Am I missing something?

Demand for gas in the basin is going up because of the startup of LNG exports, but there is also quite a lot of Montney inventory that's drilled but not completed.

Basically, you should ask someone who says they can predict commodity prices better than the futures curve to show you their billion dollars in futures trading profits.

[jayswin]

Been awhile since a coke stage concert. What time do the acts usually start playing?

[Harry Lime]

When you have two jobs, and your second employer does (what the T1 paperwork is there for) takes an income tax deduction from day one, for the first year... But in the second year stops taking income tax deduction resulting in a big bulk payment due to Revenue Canada, is the second employer responsible in any way for their error?

I do realize that the employee in this scenario should have noticed the lack of deduction on their paystubs, but it was missed.

To clarify, one one employer was using the T1 minimum exemption in year one, and then in year two, both employers started using the T1 minimum exemption.

[Locke]

Originally Posted by Harry Lime

When you have two jobs, and your second employer does (what the T1 paperwork is there for) takes an income tax deduction from day one, for the first year... But in the second year stops taking income tax deduction resulting in a big bulk payment due to Revenue Canada, is the second employer responsible in any way for their error?

I do realize that the employee in this scenario should have noticed the lack of deduction on their paystubs, but it was missed.

To clarify, one one employer was using the T1 minimum exemption in year one, and then in year two, both employers started using the T1 minimum exemption.

No.

Each employer is only responsible for their own remittances, they technically dont know anything about a second employer thus the employee is responsible for the cumulative effect of the income once its added together.

Theres more to it such as...the employer might be using a 3rd party payroll service who also knows nothing of additional income and is just accounting for that particular employee's anticipated pay, then theres employees on commission which requires a TD1X, etc. it goes on and on.

Unfortunately, unless there is severe negligence all of the liability for taxes owed falls upon the taxpayer.

The employee should take care of this on their respective TD1s but most people dont know how to fill them out properly or what they mean.

Further...Payroll Employees are Accountants that couldnt stand the excitement of actual accounting...so...you're not probably not getting the 'A-Team.'

[Harry Lime]

Originally Posted by Locke

No.

Each employer is only responsible for their own remittances, they technically dont know anything about a second employer thus the employee is responsible for the cumulative effect of the income once its added together.

Theres more to it such as...the employer might be using a 3rd party payroll service who also knows nothing of additional income and is just accounting for that particular employee's anticipated pay, then theres employees on commission which requires a TD1X, etc. it goes on and on.

Unfortunately, unless there is severe negligence all of the liability for taxes owed falls upon the taxpayer.

The employee should take care of this on their respective TD1s but most people dont know how to fill them out properly or what they mean.

Further...Payroll Employees are Accountants that couldnt stand the excitement of actual accounting...so...you're not probably not getting the 'A-Team.'

Thanks for the info. It was interesting to me that they did it as intended the first year, and then it was 'new phone, who dis?'.

[Locke]

Originally Posted by Harry Lime

Thanks for the info. It was interesting to me that they did it as intended the first year, and then it was 'new phone, who dis?'.

They're supposed to update the TD1 every year, they often dont. But its a double-edged sword...one payroll department at one company doesnt know what another payroll department at another company is doing.

I see this often. Especially with young people who have multiple jobs and no job thinks they're going to earn enough to be taxed, but when you add them all up and nobody has taken taxes off? Someone is getting screwed.

Worst one I've seen? A Teacher.

His primary employer was fine, but on his time off he'd work side jobs. Few grand here, a few grand there, nothing to write home about, but when you add those side jobs to his primary income and no additional tax has been withheld? There's gonna be a bill.

[Sylvanfan]

Originally Posted by Slava

You can coast down some of the mountains in BC and go really fast. I was there a couple weeks ago, coasting down, and I don’t want to say the speed. Fast enough that my wife just glared at me and said “I think that’s enough”.

I just got back from driving the Crowsnest hiway from Osoyoos to essentially Pincher Creek with the 3A detour through Neson and along Kootenay Lake. I would say the more excessive speeding likely is in the 50 zones thru towns or thru one of the Construction zones that go down to 50. Although hiway 97 at Vaseux Lake just North of Oliver got shut down 3 straight days due to accidents. It's a road with a speed limit of 80 and there is a 4 lane about 12km North of Osoyoos where the limit stays 80...and after following R.V's, Seniors, and farm trucks driving 65 or less...people might run out of patience. If you have driven that road a lot....you learn how pointless it is...you'll just hit the next guy going 65 and save 8 seconds.

[Sylvanfan]

Do travelers cheques still exist, or when did they go obsolete? I don't think I've seen them used in like 35 years, but I remember them being quite common in the 80's. Id guess with the growth of credit cards, easy ATM access that they've long ago died off.

[Locke]

Originally Posted by Sylvanfan

Do travelers cheques still exist, or when did they go obsolete? I don't think I've seen them used in like 35 years, but I remember them being quite common in the 80's. Id guess with the growth of credit cards, easy ATM access that they've long ago died off.

Lol! I dunno, I never used them but a long...long time ago.

Gather round! Its story time, I was 23 and going to Cuba after a Tax Season for vacation and of course I get there and we're waiting for the Bus to take us to our resort so I grab a few beers because, of course, my resort is the very last one and...of course its late at night, only 1 guy working and theres this young couple in front of me that I have to wait behind.

I say 'young couple' but they were probably a couple years older than me, but clearly not very seasoned travelers. Anyways, whatever and these were the days where you could easily exchange your currency at the Hotel, Cuba has changed a lot since then.

So this young couple rock up to the Hotel Desk to check in, I'm behind them, its late at night, I'm tired, I want to get my currency, hit the bar and then the room.

They need to exchange currency and...what do they have? The Concierge nearly passed out laughing.

Its all Traveler's Cheques. And....American Express Travelers cheques no less.

The Concierge explains...you have to go to the Central Bank in Havana to cash those and they're going to give you 50-cents on the dollar for them.

Anyways...who gave these people this advice? Was he over 80? They stood aside, I checked in, converted my currency, got my room key and asked the Concierge how much it cost to get to Havana and then loaned that to them, they said they'd pay me back when they got their money.

That was the first, but not last time that couple ended up borrowing money from me, but, to their credit, when we got back to Calgary they did pay me back!