Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

A Canadian payroll dependency chart

daemonology.net

Post reply on HN
Print view View original

201–210 of 301 posts

Re: A Canadian payroll dependency chart

#201

Post by AntiEgo »

newZWhoDis wrote: post #191
HorizonXP wrote: post #170

Earlier quoted context omitted.

I don’t think the “woke-mind-virus” superlative is conducive to the type of conversation we should be having but otherwise I fully agree. Canada does nothing to promote home-grown economic prosperity. What is the value in adding those taxes and fees on a $10 part? Do we honestly believe that type of protectionism is going to create a bunch of jobs domestically? Our GDP has grown mostly due to real estate. I work in t…

I disagree, I think those types of things need to be said and in more places than they currently are. It’s the only way to build momentum to achieve change. Sure, it might be uncomfortable but that’s a part of growth.

"Woke" was originally shorthand for "woke up to the fact that socioeconomics is not a level playing field", usually w.r.t. race but intersecting with gender and class.

Would you care to elaborate on how this is a mind virus, or responsible for the fees in the post?

Re: A Canadian payroll dependency chart

#202

Post by burnished »

Topgamer7 wrote: post #74
mmastrac wrote: post #4

It's a shame that we don't have open formulas in code form published by the government. The only way that I know how to do this reliably is using the web form provided by the CRA here: https://www.canada.ca/en/revenue-agency/services/e-services/... As you can imagine, doing this by hand is quite painful and error-prone.

I want something similar for my mortgage calculation. For example I cannot get my bank (TD Canada) to inform me of how much each payment goes towards my principal. I'm pretty sure I've calculated it properly, however the number is often in the 10's of dollars off from what the bank reports my outstanding balance is after a payment is made. Also don't get me started that I can't use an api to get my account details an…

Are you using the correct date convention? That can cause small differences in both the duration of the interest accrual period as well as the daily interest rate for that period

If they aren't providing you complete information there is probably a Canadian authority you can reach out to, though you may just need to go higher up the food chain at your bank - accounting can be a little arcane and the people you are speaking to may simply not know.

That being said being off by tens of dollars is absurd, the error is likely in your calculations, and I feel it is their duty to make how they calculate your interest owed plain to you.

Re: A Canadian payroll dependency chart

#203

Post by jredwards »

a13n wrote: post #177
fooster wrote: post #171

Earlier quoted context omitted.

You have to be kidding me. I really don't think Argentina is an example of a revolution anyone should follow.

What alternative courses of action do you recommend they take to manage their economy and currency, which is experiencing inflation of over 140%?

Economists like to say that there are only four types of economies: developing economies, developed economies, Argentina, and Japan.

Argentina is a special case of decades of absurd mismanagement. Milei's prescription is different, but that doesn't mean it's good. It may end up killing the patient altogether.

Re: A Canadian payroll dependency chart

#204

Post by burnished »

cperciva wrote: post #105
Topgamer7 wrote: post #74

Earlier quoted context omitted.

I want something similar for my mortgage calculation. For example I cannot get my bank (TD Canada) to inform me of how much each payment goes towards my principal. I'm pretty sure I've calculated it properly, however the number is often in the 10's of dollars off from what the bank reports my outstanding balance is after a payment is made. Also don't get me started that I can't use an api to get my account details an…

FWIW, being off by 10s of dollars sounds to me like different ideas of how to count days. Banks sometimes use calendar days, sometimes business days, and sometimes a fictitious calendar with 12 months of 30 days each.

Yes, you'd call that the calendar convention if I remember correctly. The one you are referencing is called 30/360 for 30 days in a month, 360 days in a year.

Re: A Canadian payroll dependency chart

#205

Post by throw0101d »

guhidalg wrote: post #173
j45 wrote: post #140

Earlier quoted context omitted.

Canadian mortgages are a bit different than the US. First, they renew their interest rates every 5 years over a 20-30-40 mortgage. Think of it as mandatory refinancing. Unlike the US where a homeowner can lock in a low interest rate for a very long time.

That sounds terrifying. Do people just pay them off within quickly if interest rates rise?

> That sounds terrifying. Do people just pay them off within quickly if interest rates rise?

Variable rate mortgages were a better bet 88% of the time between 1950 and 2000:

* https://wowa.ca/static/fixed-vs-variable-study.pdf

Post-2000 variable did fairly well as well.

It's the recency bias of the last 1-2 years that have people really freaking out about it.

Re: A Canadian payroll dependency chart

#206

Post by Spivak »

HorizonXP wrote: post #170
personomas wrote: post #164

[flagged]

I don’t think the “woke-mind-virus” superlative is conducive to the type of conversation we should be having but otherwise I fully agree. Canada does nothing to promote home-grown economic prosperity. What is the value in adding those taxes and fees on a $10 part? Do we honestly believe that type of protectionism is going to create a bunch of jobs domestically? Our GDP has grown mostly due to real estate. I work in t…

> Do we honestly believe that type of protectionism is going to create a bunch of jobs domestically

It's somewhat ironic saying this in response to someone who because of the high price (he thought) he was going to have to pay he took his business to someone local.

Re: A Canadian payroll dependency chart

#208

Post by pas »

jredwards wrote: post #203
a13n wrote: post #177

Earlier quoted context omitted.

What alternative courses of action do you recommend they take to manage their economy and currency, which is experiencing inflation of over 140%?

Economists like to say that there are only four types of economies: developing economies, developed economies, Argentina, and Japan. Argentina is a special case of decades of absurd mismanagement. Milei's prescription is different, but that doesn't mean it's good. It may end up killing the patient altogether.

dollarization makes sense, the rest is just claptrap talk about cutting social services (and some of which would be a necessary conclusion anyway, because currently the spending is financed by simply money printing)

of course the extremely dramatic complete eradication of any kind of redistribution is almost surely not the optimal path to growth

Re: A Canadian payroll dependency chart

#209

Post by graeme »

huxley wrote: post #179
personomas wrote: post #164

[flagged]

The guy is raving, if he had imported it, he was going to get ripped off by private corporations not by the government. There are no duties on importing US agricultural equipment parts into Canada, HST is max 15% so $1.50 extra. At $10 it would fit under the de minimis tax/duty value which is CAD$20, so he wouldn't even have to pay tax on it and no broker is necessary. What did him in was the shipping cost plus UPS a…

There's no good option to import something, you pay through the nose where brokerage fees greatly exceed the value of taxes collected on most items. The fees are deductible, but it's still an expense.

In theory he should have been under the exemption, can't speak to that. But $20 is extremely low.

Re: A Canadian payroll dependency chart

#210

Post by Spivak »

jacobr1 wrote: post #35
piperswe wrote: post #24

Earlier quoted context omitted.

A 401(k) match _is_ free money though. When you leave the company, you can just cash out the account - the penalty will still probably be less than the match gave you, so you come out ahead. Of course, it's best to just let it sit in retirement accounts until you can take a qualified distribution.

Only in the sense that you can optionally not accept it. But it still is part of your compensation, as is in effect, even the "employer-paid" portions of healthcare and other benefits. From the perspective of the employer they are part of your costs and the direct payments reflect that, likewise you would need to pay those costs yourself if you were self-employed.

So it's a semantic thing, employees know it's not literally free and comes from their employer but it's free in the sense that it's in excess of their negotiated salary.
Post reply on HN