Tax Questions

[No Conflict]

Hey All,

Just wondering, aside from the regular stuff (ie meals, lodging etc) what else you guys claim in your income tax stuff.... basically looking for loopholes


Thanks
NC

[2R]

Four wives ,twenty two children and five goats

[Chantal]

Hey!
Anyone, do you think this is a good GIC?

Market Powered GICThe power of stock market investing with a guaranteed return
Scotiabank's new Market Powered™ GIC1 delivers the upside potential of stock market performance with a guaranteed return, all in one simple investment solution. Ideal for both registered (RSP/RIF) and non-registered portfolios, the Market Powered GIC gives you:

Guaranteed principal
Guaranteed annual interest rate determined at the time you invest
Potential to earn additional income based on the performance of Canadian banks and utilities stocks
The Market Powered GIC is available as a 3-year or a 5-year registered GIC or a 5-year non-registered GIC.

Here's how the 5-year Market Powered GIC would have compared to a traditional GIC, had it existed from November 19, 19962*:

Maximum Compound Annual Return Average Compound Annual Return
Scotiabank's Market Powered GIC 8.53%
5.25%

Regular non-redeemable 5-year GIC 5.85%
4.85%

Result The maximum Market Powered GIC return was 2.68% better than the maximum 5-year GIC return On average, the Market Powered GIC outperformed the 5-year GIC by 0.40%

The 5-year Market Powered GIC would have returned 4.85% or more annually 63% of the time during the period reviewed.
Here's how the 3-year Market Powered GIC would have compared to a traditional GIC, had it existed from November 17, 19983*:

Maximum Compound Annual Return Average Compound Annual Return
Scotiabank's Market Powered GIC 8.57%
5.02%

Regular non-redeemable 3-year GIC 5.60%
3.91%

Result The maximum Market Powered GIC return was 2.97% better than the maximum 3-year GIC return On average, the Market Powered GIC outperformed the 3-year GIC by 1.11%

The 3-year Market Powered GIC would have returned 3.91% or more annually 68% of the time during the period reviewed.
You can purchase a Market Powered GIC at your local Scotiabank branch.

Key features
Minimum $1,000 investment (Canadian dollars only)
Registered 3-year term or 5-year term, non-transferable and non-redeemable until maturity
Non-registered 5-year term, non-transferable and non-redeemable until maturity
Index: Scotia Market Powered™ index
RSP/RIF eligible
CDIC eligible
Interest payment frequency:
Guaranteed annual interest: for registered plans (RSPs, LRSPs, LIRAs, RIFs, LRIFs, PRIFs & LIFs), compounded annually and paid at maturity; for non-registered plans, compounded annually and paid at maturity or paid annually
Potential additional returns: paid at maturity
Issuers†:
The Bank of Nova Scotia
Montreal Trust Company of Canada
National Trust Company

http://www.scotiabank.com/cda/content/0 ... en,00.html

[w squared]

Aren't the terms "Good" and "GIC" mutually exclusive?

The only reason that a GIC could possibly make sense is if your situation makes you incredibly risk-averse...so much so that you are willing to accept an almost non-existent rate of growth in return for miniscule risk.

Oh yeah...there is NO liquidity here. Not just penalties...but NO liquidity.