What does it mean? When I borrow from corporation for lower that this prescribed rate (including interest-free loan), the saved interest becomes taxable benefit and should be reported in my individual tax return. E.g. if $100K is borrowed for 0.7%, then remaining 0.3% ($300) become my ...
Also, consider your lifestyle and the type of reward that will benefit you most — if you rarely stay in hotels, a hotel rewards card may not be the best fit. And consider the annual fee. A higher annual fee may mean better perks, but it’s only worth paying if you use the perks...
if one or two industries suffer a significant drop in production. It's also wise to try to maintain a sizeable savings account that you don't use for everyday purchases but keep in case you become unemployed or if inflation reduces the purchasing power of the money in your chequing account...
However, that doesn’t mean that you’re completely out of luck. People with lower credit scores can look to credit unions and trust companies or subprime and private lenders to see if they will approve you for a bad credit mortgage. These types of financial institutions are usually more ...
Most people who use a credit card will be familiar with the term ‘grace period.’ But what exactly does it mean? How do grace periods work, and how long do they last? This guide will look at grace periods to help you understand what they involve. ...
right of offset. Now, if a lender owes a debt to you and you owe a debt to them somehow (even if they aren’t a bank and you don’t have a savings/chequing account with them), then that lender could potentially apply the right of offset to reduce or clear the debt they owe you...