Hi, my name is Blaster86. First time poster in this thread, but long time reader. I finally got something.
It's some of the boomerest #### that can ever be boomered too. So for those that don't know, I work in retail management running a chain of liquor stores. In the lower mainland we've got that lovely mandatory charge for a bag thing. So all my staff are trained to make sure they ask the customer if they'd like a bag as a part of their initial greeting.
Older folks will always say no, some will make a snide remark about paying for a bag. Then after the payment is processed, some think they're clever and ask for the bag after the transaction is done. They will then get offended when they're still charged the quarter. It's not a one off thing. It's not more in one particular place or the other. It's like some sort of universal boomer bag con that they all have built in.
Just really annoying.
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Oh. And if this is your understanding, it is entirely possible your Accountant doesnt know jack about Estate Taxes. You might want to look into that.
Erm, I'm pretty sure there's a spousal rollover available isn't there?
EDIT: Damn Slava beat me to it. But hey, for completeness' sake:
Spoiler!
Quote:
Originally Posted by Income Tax Act s. 70
Where transfer or distribution to spouse or spouse trust
(6) Where any property of a taxpayer who was resident in Canada immediately before the taxpayer’s death that is a property to which subsection 70(5) would otherwise apply is, as a consequence of the death, transferred or distributed to
(a) the taxpayer’s spouse or common-law partner who was resident in Canada immediately before the taxpayer’s death [...]
if it can be shown, within the period ending 36 months after the death of the taxpayer or, where written application therefor has been made to the Minister by the taxpayer’s legal representative within that period, within such longer period as the Minister considers reasonable in the circumstances, that the property has become vested indefeasibly in the spouse or common-law partner or trust, as the case may be, the following rules apply:
(c) paragraphs 70(5)(a) and 70(5)(b) do not apply in respect of the property,
(d) subject to paragraph 70(6)(d.1), the taxpayer shall be deemed to have, immediately before the taxpayer’s death, disposed of the property and received proceeds of disposition therefor equal to [...]
(ii) in any other case, its adjusted cost base to the taxpayer immediately before the death,
and the spouse or common-law partner or trust, as the case may be, shall be deemed to have acquired the property at the time of the death at a cost equal to those proceeds,
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Last edited by CorsiHockeyLeague; 05-06-2024 at 02:14 PM.
So my dad has a RIF. Its been sold according to Locke. Strike price has happened. Is there no reason to just move it to an accessible account. Right.
GIC's mature in a few months, how the hell does that work. Interest up to death date on the dad and then what about interest after that? Things TD Bank should be able to answer but can't.
Oh. And if this is your understanding, it is entirely possible your Accountant doesnt know jack about Estate Taxes. You might want to look into that.
My sister is her accountant, she knows plenty, thanks.
Quote:
Originally Posted by Slava
Well, spousal rollover though?
Exactly. She sold none of them. The bank manager apologized to my mother when the person she was dealing with kept insisting that she needed to sell. She does get taxed on them, yes, she pretty much lives off the dividends.
Hi, my name is Blaster86. First time poster in this thread, but long time reader. I finally got something.
It's some of the boomerest #### that can ever be boomered too. So for those that don't know, I work in retail management running a chain of liquor stores. In the lower mainland we've got that lovely mandatory charge for a bag thing. So all my staff are trained to make sure they ask the customer if they'd like a bag as a part of their initial greeting.
Older folks will always say no, some will make a snide remark about paying for a bag. Then after the payment is processed, some think they're clever and ask for the bag after the transaction is done. They will then get offended when they're still charged the quarter. It's not a one off thing. It's not more in one particular place or the other. It's like some sort of universal boomer bag con that they all have built in.
Just really annoying.
Plastic bags at a liquor store has always seemed non-sensical to me. I'm not trusting more than one bottle or sixer to a bag (and even then I don't really trust it)...in which case I could just carry that in my hands anyways.
Hi, my name is Blaster86. First time poster in this thread, but long time reader. I finally got something.
It's some of the boomerest #### that can ever be boomered too. So for those that don't know, I work in retail management running a chain of liquor stores. In the lower mainland we've got that lovely mandatory charge for a bag thing. So all my staff are trained to make sure they ask the customer if they'd like a bag as a part of their initial greeting.
Older folks will always say no, some will make a snide remark about paying for a bag. Then after the payment is processed, some think they're clever and ask for the bag after the transaction is done. They will then get offended when they're still charged the quarter. It's not a one off thing. It's not more in one particular place or the other. It's like some sort of universal boomer bag con that they all have built in.
Just really annoying.
Old people..........
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Captain James P. DeCOSTE, CD, 18 Sep 1993
My sister is her accountant, she knows plenty, thanks.
Exactly. She sold none of them. The bank manager apologized to my mother when the person she was dealing with kept insisting that she needed to sell. She does get taxed on them, yes, she pretty much lives off the dividends.
Sorry, I thought these were being rolled to you or other recipients rather than a spouse, if it was just a Spousal roll-over this should have been effectively effortless.
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My sister is her accountant, she knows plenty, thanks.
Exactly. She sold none of them. The bank manager apologized to my mother when the person she was dealing with kept insisting that she needed to sell. She does get taxed on them, yes, she pretty much lives off the dividends.
I thought they were considered sold on death day, but I have no idea.
Sunrise Records are such rip off merchants. A few years back, I got into vinyl and shopped there often. Their jazz albums were always nicely priced between $22-27 and I picked up a bunch as was just getting into the genre. My music buying dropped off for a few years but I'm getting back into it recently and decided to pop in. The exact same albums (same pressings) I bought are now doubled in price. Likewise a Max Richter double LP that I would've paid no more than $35 for when I bought it is now $72! They literally must just have doubled the price of everything once they noticed vinyl becoming more and more popular.
I managed to snag one jazz album today for $22 but only because it had found its way into the regular rock/pop section and must've been missed in their price hike.
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Sunrise Records are such rip off merchants. A few years back, I got into vinyl and shopped there often. Their jazz albums were always nicely priced between $22-27 and I picked up a bunch as was just getting into the genre. My music buying dropped off for a few years but I'm getting back into it recently and decided to pop in. The exact same albums (same pressings) I bought are now doubled in price. Likewise a Max Richter double LP that I would've paid no more than $35 for when I bought it is now $72! They literally must just have doubled the price of everything once they noticed vinyl becoming more and more popular.
I managed to snag one jazz album today for $22 but only because it had found its way into the regular rock/pop section and must've been missed in their price hike.
Every business run by Sunrise Records’ parent company is basically synonymous with shady/manipulative pricing practices.
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My sister is her accountant, she knows plenty, thanks
Exactly. She sold none of them. The bank manager apologized to my mother when the person she was dealing with kept insisting that she needed to sell. She does get taxed on them, yes, she pretty much lives off the dividends.
Estate Taxes are getting harder every year. Its like Banks have never dealt with people who have died before, its unreal.
And they take longer and longer and longer...its ridiculous.
This stuff isnt that hard but Executors are put through the wringer and Banks take EONS to get this stuff done. Its getting beyond ridiculous.
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This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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So, I’m learning that the only way two parents working households work is that it doesn’t. There’s no ####ing way to meet the demands of parenting and of a half-decent career that I can see.
All I heard for years was I need to make more money. Finally get the more money job which comes with way more responsibility and wouldn’t you know it, doesn’t mean #### how important it is because my kids gotta get dropped off and picked up. And it’s so goddamn aggravating having a partner who makes more because you know damn well whose schedule gets trumped.
It’s brutal man. Like, the most important week that probably makes or breaks my career trajectory and does anyone give a ####? No, because we sure as hell can’t afford to lose her income if she can’t meet her demands.
Guess I could find a 12hr daycare and spend ALL the money and then some to lose all the time with my kid.
Sometimes man I could just cry. How the #### do you guys do it?
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No, no…I’m not sloppy, or lazy. This is a sign of the boredom.
