EQBank T5 slip Box 13 for TY2019 includes interest credited on 2020-Jan-1st | Page 2 | Income tax filing | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
Page: 12Jump to page
sp_Feed Topic RSS sp_TopicIcon
EQBank T5 slip Box 13 for TY2019 includes interest credited on 2020-Jan-1st
September 23, 2020
7:18 am
Norman1
Member
Members
Forum Posts: 6766
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline
Go to Top
21sp_EditHistory sp_Permalink sp_Print

topgun said

I purchased a 5 year GIC on Jan 1, 2020. I assumed the interest payment date would be Jan 1, 2021. On my FI account it shows Dec 31, 2020. It looks like Leap Year/statutory holiday changes payment date. Having fun.

January 1, 2020 was not a business day. So, the GIC was really purchased the next business day, Thursday, January 2, 2020.

However, the anniversary date, January 2, 2021, will be a Saturday. Next business day would be Monday, January 4, 2021. Previous business day would be Thursday, December 31, 2020.

The financial institution chose to pay the anniversary interest early on the previous business day.

No permission to create posts
Page: 12Jump to page
sp_Feed All RSS
Go to top

Please write your comments in the forum.