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Tangerine Money-Back credit card quick facts
Tangerine Money-Back*
Annual fee: $0
Interest rates: purchases 19.95%, cash advances 19…
Will credit card debt affect my mortgage application?
– moneysense.ca
With debt being so common these days—the average Canadian consumer carried a credit card balance of $3,745 at the end of 2021, according to TransUnion—you might be wondering how, exactly, outstanding credit card debt affects your mortgage eligibility and whether it’s something you should be worried about. Here’s what you need to know.
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How credit card debt can hurt (or help) a mortgage application
If you have a relatively small credit card balance and diligently make your minimum payments on time, that debt is unlikely to have any effect at all on your mortgage application…
10,000 bonus points per night and Club Lounge access for stays at the Sheraton Gateway Hotel in Toronto International Airport
– RewardsCanada.ca
The T5 Statement of Investment Income Tax Form Explained
– canadianfinanceblog.com
What Is a T5 Slip?
If you earn more than $50 of income in your investment accounts, your financial institution will issue a T5 slip, also known as a Statement of Investment Income. If you earned less than $50, you wouldn’t get a slip as the CRA doesn’t charge tax under that amount. Depending upon the type of investment income, you will see amounts reported in several boxes, as per below.
What’s Included In the T5 Slip?
There are several information boxes on the T5 slip. While you may not notice an amount in each box, here is a breakdown of what’s included:
Box 10: Actual amount of dividends other than eligible dividends
Box 11: Taxable amount of dividends other than eligible dividends
Box 12: Dividend tax credit for dividends (excluding eligible)
Box 13: Interest income from Canadian sources
Box 14: Other income from Canadian sources
Box 15: Foreign income
Box 16: Foreign tax paid
Box 17: Royalties from Canadian sources
Box 18: Capital gains dividends
Box 19: Accrued income: Annuities
Box 21: Report code
Box 22: Recipient identification number
Box 23: Recipient type
Box 24: Actual amount of eligible dividends
Box 25: Taxable amount of eligible dividends
Box 26: Dividend tax credit for eligible dividends
Box 27: Foreign currency
Box 28: Transit
Box 29: Recipient account
Box 30: Equity-linked notes interest
Who Should Claim T5 Income?
If your investment account is owned jointly with your spouse, you will receive a T5 slip in both names…
March 25 Update: Aeroplan extends flight reward change policy, MyLenovo Rewards launches in Canada & an Amex Offer for ECCO Shoes
– RewardsCanada.ca