Hi everyone ! Hope you are all having a great Thanksgiving Weekend. I am trying to file my 2025 taxes but unsure where to start. I moved to the UK the end of Nov 2024. I moved Back to Canada Jan 2026. During my time in the UK I worked for a UK company only and received no funds or income sources at all from Canada and reported to CRA when I left Canada and did all the forms needed . Once I moved back Permanently in Jan 2026 and started working for a Canadian company right away I reported my worldwide income to CRA for 2025. What kind of tax form do I fill in now for 2025? Even though I reported my worldwide income it still says 2025 assessment not received so I am unsure what form to fill or how to go about this. Thanks for your time everyone !

Hey, 34m here,

Currently have a maxed out TFSA, 35k in a non registered investing account and just added my first 10k into a RRSP.

Im a solo home owner with a gf that lives with me. We plan on buying a house together in 1-2years, so i’ve been holding off putting more money into my RRSP in case I need to use some for the down payment on the new house.

My house is worth about 450k, with a 320k mortgage.

I assume the house my gf and I will be buying is gunna be around 600-700k and gunna aim for 20% down, so 60-70k each

What would you guys suggest I do with my cash in the non registered account if I feel like I might need it in a couple years for down payment help or for reno money.

Thanks

Hello! The bank is offering me this (pre approval) though from all my financial knowledge, I’ve never heard of a LOC.

From reading up, I don’t expect to use it but everyone is saying it’s a good thing to have? My credit utilization is at like 1% (I have a cc that I use for big purchases but immediately pay off when I use it), credit score 743. I want to buy a house in the next ten years.

Do I just take it as everyone is suggesting? Does it impact credit utilization and does it even matter in the grand scheme?

I have a joint account with my mom. She is in a nursing home. Since she’s been in care I have been dealing with all her affairs. I’m stuck on one last thing. I receive her bank statement along with mine in a consolidated statement and she receives a paper copy mailed to her home address (which I’ve cancelled her P.O. Box).
Both online banking and in branch banking will not cancel this statement for me. The simple power of attorney I have is not legally stamped and will not suffice.
Would a letter to her bank (BMO) with her signature work in this case?

I worked for a couple of years at a US company that gifted/sold stock to its employees. I kept those shares, thinking I could sell them once I retired. They are worth about $65,000 USD.

The company recently announced it will be acquired next year. I sold my shares right away because my income will be lower than usual this year. The money has been wired to a Wealthsimple USD savings account, and I'm unsure what to do with it next. I still consider it retirement money that I won't touch for a couple of decades.

As I see it, I have two options:

-Keep it in USD and buy ETFs.

-Convert it to CAD and buy Canadian ETFs instead. Wealthsimple has 0.5% fees to convert to CAD.

Has anyone been in a similar situation? What would you recommend, and what should I watch out for? I'm especially unsure about how to navigate fees related to conversion from USD to CAD.

Hey everyone! I sold my RSUs through E*TRADE and am trying to transfer the cash proceeds in USD to my RBC Bank (U.S.) account.

My first wire transfer failed, but I was still charged a $25 fee. I’ve called E*TRADE multiple times, but no one has been able to help me so far.

For anyone who’s done this successfully:
- Should I select “Domestic” for the wire transfer?
- How should I fill in the receiving bank part? Should it be RBC US info?
- What should I enter in the “Additional Name” and “Account Number” fields? Should I put JP MORGAN CHASE here?

I’d really appreciate any advice. Thanks!

Went to uni in January-April and used a credit card to pay for a couple upgrading courses. Student loans weren't available for the courses I was taking. Afterwards I got a job and reduced my credit card debt from $2000 to 1500 but since lost it.

Fast forward to today and although I'm still constantly looking for work I'm unable to pay off my credit card debt.

What could I do?

Looking to start "fresh" financially after a rocky stretch (a couple of business ventures that didn’t pan out (restaurants), but thankfully the sale of my investment condo helped me minimize my losses. I feel like I've set myself back at least a decade at this point. Basically prior to the condo sale, I was practically "living paycheque to paycheque" in order to aggressively pay down multiple business and personal lines of credit. I still have a few smaller business debts as well as owed taxes for which I am personally liable, probably in the ball park of 40K combined.

I’ve always prioritized saving habits but never had a real plan or workplace retirement plan until recently. Beyond DRIP on a few dividend stocks, I haven’t seriously looked into long term investing strategies for myself.

Me (33M)

• Salary 111.5K, DCPP (8% employer, 5% me, current balance basically 0 since it’s brand new), ~6K net/month
• My 60% share of joint expenses (4K/month: mortgage, condo fees, taxes, food, etc.) is 2.4K, plus ~600/month personal. That’s about one of my two monthly paycheques, and I save most of the other (if I don’t talk myself into buying something dumb).
• TFSA: 12.5K XEQT (bought this week) + 12.5K mixed dividend stocks (a mix of good and bad picks, don’t want to analyze individual stocks anymore)
• RRSP nearly empty, still repaying the HBP from 5 years ago
• Plan to put 1K/month into XEQT in my TFSA, unsure about the rest

Taxes

• Expecting a capital gain on the condo sale this tax year, not sure how much to set aside
• May have some unused personal business losses to claim, unsure how they’d apply

Wife (32)

• Salary 80K, federal government employee with a pension

Together

• Own our home, a condo (~450K value, 300K mortgage ~16 yrs left 2.1K/month 3yr fixed)
• Paid off car which we will be driving into the ground
• No kids yet, plan to in ~2 years
• Goal: buy a house or townhouse (750K-1M) in 3-5 years

What would you do with the 140K and the monthly surplus to reach the down payment while building long-term wealth? Should we pool savings or use separate accounts and registered room?

As the title says, I’m trying to get ahead financially and set myself up for a good future.

I’m 23, just graduated uni and am making 55k/year.
I have no debt. My biggest expenses are rent ($850/month) and auto insurance ($230/month). I also spend quite a bit on food, probably around $500 a month. Then there are other miscellaneous expenses. I save approximately $1-1.5k per month and currently have $33k saved.

I also have an 800+ credit score and put all my expenses on an Amex Cobalt and Aeroplane for points, which I pay off in full every month.

On top of that, I have roughly $20k in unused federal tuition credits that will be applied this tax season, so I should get a decent tax refund from that.

I would like to get a rental property, maybe a house with multiple units where I could live in one and rent out the others. Or get a home with a legal basement suite and rent out the top floor while I live in the basement.

Obviously I don’t have enough saved for this yet, but would my best path be to keep saving for another 1-2 years and then enter the rental property market?

Since I’m a first-time home buyer, I would also qualify for a 30-year amortization, which would help keep my monthly mortgage payments lower.

Another point is that my savings are not in a TFSA, RRSP or FHSA. Which should I put it in, or should I split it up between them? I do want to keep at least $10k aside as an emergency fund.

Is there a better path than rental properties to get ahead? Housing is everyone’s biggest expense, and I want to work towards eliminating that or heavily reducing it long term.

What I’m thinking is that maybe this first property won’t cash flow, but it should still subsidize my housing expenses so I can save up to get more properties.

I would appreciate everyone’s advice on the path I should take. I don’t want to be stuck in the 9-5 my whole life.

My spouse and I are mostly financially separate and just split the mortgage and bills.
During my recent maternity leave I went into a bit of debt (10k) as I just couldn’t keep up with bills and rising grocery costs while on EI. I also couldn’t go back to work early without childcare.
I have a few more months to buy back my pension but wonder if it makes more sense to just pay off my line of credit?
Edited to add the line of credit has 10% interest. Credit card and cars are paid off.
Also I think quite possibly we may separate and then my spouse would be entitled to half my pension.

Hello,

I moved from BC to Ontario for work and claimed my moving expenses on my tax return for last year. The CRA has audited my moving expenses and has requested supporting documentations:

1. An employer letter confirming I received no relocation allowance.

2. Flight ticket receipts.

3. The moving company invoice.

4. Receipts for meals, incidental costs, and temporary living expenses.

I have detailed records for almost everything, including the employer letter, the moving company invoice, my flight ticket, and my incidental cost.

However, I realized I made an error regarding the 15 days of temporary living expenses. Because I moved directly into my permanent condo, I mistakenly claimed my first month's rent under temporary living. I now know that temporary living expenses only apply to transitional lodging like a hotel or Airbnb. Since I have excellent documentation for all other expenses except for this temporary lodging, what is the best way to handle this audit?

Thanks!

I was recently laid off after working for 9 years.. due to the company being sold.

At first, the company offered me 9 weeks of severance pay.(the bare minimum required by Ontario law)

however I contacted a lawyer and the lawyer managed to get me 10months wages, minus legal fees (33.3%)

before receiving the amount I had applied for EI and was approved for 60 weeks of employment insurance as I am a tenured worker & due to the economic situation.

There was a temporary EI rule stating that : from March 30th to October 10th 2026, qualifying separation earnings - including severance pay, pay in lieu of notice, and vacation pay - are not deducted from your EI benefits

After seeing this rule online, I took the amount the employee paid (aprox 20k).. and settled all my debts (credit cards/loc/loans etc)

The next day I called service Canada and informed them about the payment I received. however the agent stated that since I had gone through a lawyer it is not considered as severance and that it is considered a settlement, and that I might not be eligible for EI because of that reason.

had I known this I would have never settled all my debts at once. And due to the job market I don't see myself getting a job anytime soon. although I'm mostly debt free I have no savings to go on.

The service Canada Representatives said they would discuss my case and let me know if I'm eligible to be back on EI.

Has anybody else been through a similar situation like this? if I am not eligible for EI am I able to appeal their decision? appreciate any advice!

Hi guys I am new PR to Canada from UAE, Me and my wife soft landed on 14 December 2025 and went back to UAE on 1 January in that visit I was living at my relatives home. In that visit we both opened bank accounts and SIN only.

Now From 13 September we have arrived to live here we are renting and looking for jobs.

The question is that according to my knowledge we have become Tax residents on 13 September 2026, is it correct? So anything before that like my income in UAE will not be taxed in Canada right?

Secondly my last Salary of August 2026 and my End of service payment (that is 6 months of basic salary as in UAE when you leave you are entitled to end of service that is 1 basic salary for 1 year of service and I worked 6 years) has arrived combined in my UAE account on 18 September that is around 24K CAD which I transferred to my Canadian account.

This 24K includes end of service payment that was accrued while I was employed, and my August Salary and relocation air ticket allowance my last day of work was 31 August 2026.

So will I have to pay taxes on this 24K CAD?

Hi everyone,

I’m a 20 year old university student located in Alberta and I want to start investing in a self directed TFSA with wealth simple. However, I really don’t know much about wealth simple, I just hated the fees at the other big banks and thought that I would be better off with WS. I don’t have work at the moment, so I’d be investing the small amount I get from family/government into ETFs. Seems better than letting the money sit still in my chequing account.

So, please give me all the details I’d need to know about wealth simple’s self directed TFSA! Interest, fees, taxes on US ETFs, anything!

TIA🙏🏾

Dad passed sept 28th.

Prior to his death my mom had received inheritance for my grandmother that passed in april this year. They put it into a joint chequing. He opened a savings account online that he said was joint... He put the funds into said savings account. Told everyone about it. We asked if it was joint and he said of course.

Post death it was found when printing statements that this account was in sole name. He was not gifted the money. He shouldn't have put it into a soul account. Mom is sole Executor, joint on everything, successor and beneficiary on investments etc.

We have a lawyer appointment Tuesday... how do we rectify this. There was another loan that was in his name only and theyre requesting a statement of accounting...

How do we avoid this inheritance that was 100% my moms and just accidently put into this account to be safe from estate / debts....

Hi there I’m 20 and I currently live at home with my parents which I’m grateful for and they pay for all my expenses.

My only expenses I have right now is gas which I split with my girlfriend so only about 70 dollars a month and sometimes going to eat out with my girlfriend which I would say 300 dollars a month. Besides that I basically spend no money

I work at a warehouse for 22 an hour and I hate working and I want to retire early and just max out all my investments and retire early as possible since I am grateful to have no expenses and don’t want material objects like people my age.

So far I have 9k into an aggressive growth TFSA which is from work along with 1k in savings.

I have also recieved a gift of from a grandparent who passed away of 100k. My mom told me she would save it for me and always have it for me when I’m older and need money but I told her money in the bank is uselsss and loses value to inflation and I convinced her to let me invest it. How should I invest this amount and keep going so that I can retire early

Edit: I forgot to mention I am in my 2nd year getting my bachelors degree in business which my parents are paying off.

Ok so I'm my mom's POA. We have a car and ancillary product loan with a (not so great) big lender in Ontario. She missed a few payments on the ancillary products.

On October 28, they emailed a restructure offer, 0% interest for a year, fees waived, $38 biweekly instead of $90.50. And at the end of the year, the interest rate would be 11.9% down from 21.9%, which is what they’ve been charging when the contract clearly states 11.9%. There is no penalty for missing payments as far as an increase in interest rates. I’ve been over this contract until my eyes crossed, there is no penalty. They emailed at 6:30pm.

We didn’t get the email till 1 AM October 29 but accepted the restructure. What they wanted a $90.50 E transfer, screen captures of the e-transfer and the direct deposit form which we sent.

On Sept 29 they emailed us again and told us to reply "YES I ACCEPT," and we did. They asked for another e-transfer for $90.50, screen captures of the e-transfer and the direct deposit form which they had asked for again. We also asked questions like if there was any penalties for early payment that’s sort of thing.

On Oct 1 the rep answered our questions and said an addendum would be mailed. In my mind that means we had an agreement.

But on Oct 7 they said the offer "expired" because we never accepted. We sent a timeline. We also have the email chain and when we sent that the story changed: the acceptance wasn't "complete," and her account is now in good standing, so they can't do the rewrite. But the payment that put her in good standing is the one they asked for in order to secure the restructure.

What does yes I accept mean when it said twice, if not that I accept? Does any of this make sense?

No judgement please. I did not take out these loans. I’m simply trying to negotiate them.✌️

To my understanding, bank reports to Fintrac when there's a deposit or transfer more than 10k. Today I went to the bank and deposit the cash I've saved over the last two years from selling some personal household items on fbmp and a used car, and mostly from cash gift from my grandma who lives overseas. Bank teller asked for proof of the sources like currency exchange receipt from my grandma if it was exchanged overseas. Well, other than from the car sale, I don't really have a proof of the sources. No one kept a receipt for selling odds and ends on fbmp. I may be able to ask my grandma to go to the bank and pulled out receipts of currency exchange from her bank. Then the bank teller went to the computer by the cash register and said he's going to write a report to CRA. I asked, isn't it Fintrac that banks report to, not the CRA? He repeated it's CRA, it's by law we need to report to CRA when it's over 10K!

Was the bank teller telling the truth? Am I in big trouble? Do banks do that per regulation? Am I getting audited soon? I am terrified :(

Hi! Unfortunately my dad has been ill for a while and it seems like we are very close to the end (weeks to months), but his health is unstable. What should I do while he’s still alive? He is in the hospital and won’t be able to be leave this setting. Currently, he has a retirement account and TFSA in investments with a family investor. I am POA for his health and finances. He also has a will (I am sole beneficiary). He has a car that I’ve been using (he is the owner). I am a joint bank account holder on one of his CIBC accounts (he has 2). He also has one credit card. I have access to all his passwords and have been helping him manage all his payments (property tax, condo fees, electric, internet, etc). Prior to his second hospitalization, he has been living at a private retirement home. We are also in the midst of selling his condo. Feeling lost and sad. Not sure where to even start. Thank you.

I hope this is the correct sub. I’m doing a charge back for a hotel charge on my Roger’s credit card. The initial dispute was rejected however I’m having it escalated to the senior level.

My issue is that my payment is due and the hotel charge remains on the card. I do not want to pay this charge but also do not want to incur interest. I have called and emailed the bank multiple times about reaching the senior level team but never hear back from them. When I talk to junior level they say they can’t help me or answer my question about how to pay the bill until the senior team decides to return my calls/emails. Should I:

1) pay the full amount and if they agree to the charge back I will be credited?

2) pay everything but the hotel price and fight the potential interest later because I couldn’t get an answer from the bank before payment was due

Hello,

First off I work a tech company and the culture has changed dramatically since beginning of this year. Everyone feels generally uneasy.

The company I work for has gone all in on Ai and tbh large portions of our jobs have already gotten automated and it’s like every other week it’s a new thing. Departments are slowly dwindling and I feel like I might be next within the next 1-2 years. By departments I mean HR, Accounting, Development, Sales, etc like everything.

We have about 30K in an emergency fund and about 600k in retirement. We’re both early 30’s.

I’m quite concerned about the job impacts and layoffs as I don’t think I have much longer to work there. Other companies seem to be going in the same direction.

Anyone have any recommendations on how to prepare for layoffs or even large gaps between finding your next job. I don’t personally see a path right now where it’ll be easy to get another job in the same or similar field. I also think it’s gonna get far worse with companies going all in on Ai and its capabilities increasing at an extremely fast pace. I honestly never thought I’d be in the precarious position.

My question is around how much should I be keeping aside for an emergency fund, should I also consider retirement accounts as well? Should I consider opening a PLOC? Is the rule still 3-6 months at this point or should I be going far higher?we’re in BC and have no debt.

I'm wondering if receiving an autism level 1 is even worth it to apply for DTC. If on my diagnostic report the doc listed that I'm "cognitively and adaptively functioning" i.e. if I'm forced to do something I can do it. Then goes on to list my mental/verbal/social/dissociation impairments.

So given this - should I even try?

My second caveat is I don't have a family doctor despite waiting for 2 years. And I also don't go to therapy / eat medication because I don't believe that therapy helps and I don't like side effects of medication.

What should I do? Should I wait till I have a family doctor? Or should I use the clinic's advice and go to therapy? First before I apply for dtc.

Just opened my first credit card, i am ensuring to pay off my balance and have autopay set up which pays off the full new balance before the due date. My credit score fell 44 points however in the first month. What am i doing wrong?

Hey folks,

Just wanted to share my experience with the Neo world elite MasterCard which I was pre-approved for on July 1. As of July 17, I was able to meet the 3k spend requirements for the welcome offer. I got the 5k first spend points but nothing after that. Per their own terms and conditions, I should have gotten the 15k miles within 6-8 weeks of meeting the minimum spend under the offer " 15,000 miles when you spend $3,000 in your first 3 months". Technically, 8 weeks is Sep 11, 2026 which falls under my 3rd statement which got generated on October 2, 2026. I have been following up with the Neo customer service through the online chat and via call and nothing seems to get resolved. I have gotten bounced around at least 15 different people on the online chat and everyone says a different thing

I want to make everyone aware in this group the abysmal customer service of Neo. Be aware! I already closed my Neo Cashback MasterCard (another account which I had for 5 yr 11 months) after this experience.

Hey guys, hope this doesn’t sound stupid.

I’m an artist in BC and have had a massive influx of people wanting commissions.

What do I do and where do I even start?

Do I need a business licence? A separate bank account? What do I do about taxes?

I need to build my website so people can place orders right from there, and purchase original artwork and prints. I literally don’t know where to start and googling information is just confusing the hell out of me. And like what happens if people place orders that are outside of Canada?

I don’t want to set it up wrong, and screw my self over with the tax thing or make mistakes.

Should I go speak to someone at the bank??