2020 Tax Slips Info | Oaken Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





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

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
2020 Tax Slips Info
February 18, 2021
8:52 am
Nehpets
Ontario
Member
Members
Forum Posts: 753
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

Detailed information regarding Oaken issuance of tax slips found here:

Tax slips for the 2020 tax year

Stephen

February 28, 2021
2:44 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Did anyone receive their T5, which was to have been mailed Feb 17? or their portfolio statement, allegedly mailed Feb 25?

March 4, 2021
5:13 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Oaken owes me 3 mailed documents but none have arrived yet.
I phoned today and they said they had all been mailed out on schedule. I checked, and there has been no tampering with my address.
I have not been watching mailing dates closely. Is this normal, for mail going from Toronto to Toronto? I could drive to their office in 20 minutes!

When I asked the CSR how long I should expect to wait, she said until tomorrow, which is definitely over two weeks and sounds a little too convenient to mean anything.
i have received the necessary documents from every other FI that I deal with, but none from Oaken.

If it takes this long to go within the city, good luck to those who live in Prince Rupert, let alone Pangnirtung!

March 4, 2021
7:08 pm
GR
Member
Members
Forum Posts: 355
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Loonie said
Oaken owes me 3 mailed documents but none have arrived yet.
I phoned today and they said they had all been mailed out on schedule. I checked, and there has been no tampering with my address.
I have not been watching mailing dates closely. Is this normal, for mail going from Toronto to Toronto? I could drive to their office in 20 minutes!

When I asked the CSR how long I should expect to wait, she said until tomorrow, which is definitely over two weeks and sounds a little too convenient to mean anything.
i have received the necessary documents from every other FI that I deal with, but none from Oaken.

If it takes this long to go within the city, good luck to those who live in Prince Rupert, let alone Pangnirtung!  

Same problem here, also a Toronto resident. No T5 or year-end portfolio statement received yet in the mail. I left a message for the Manager, who asked a rep to phone me on his behalf. Useless response was that everything was mailed on schedule, so must be Canada Post's fault! Toronto to Toronto first class mail taking more than 11 business days - I don't think so!

Would appreciate if other Oaken clients could post whether or not they received their documents by mail already.

March 4, 2021
10:11 pm
semi-retired
Member
Members
Forum Posts: 166
Member Since:
April 15, 2015
sp_UserOfflineSmall Offline

Waiting for interest receipt. Live in Ottawa. Nothing yet.

March 5, 2021
7:31 am
pooreva
Member
Members
Forum Posts: 232
Member Since:
April 2, 2018
sp_UserOfflineSmall Offline

semi-retired said
Waiting for interest receipt. Live in Ottawa. Nothing yet.  

Snail mail is slow these days due to 'corona'. Only junk mail comes on time...
Ask your bank to send you t5 in encrypted email. Problem solved.

March 5, 2021
10:46 am
AltaRed
Member
Members
Forum Posts: 1322
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline

The link in the first post said tax slips are available online, as in

You can also view these documents online as of the date indicated in the table

If they can be viewed online, they can be downloaded by generating a PDF or even a screenshot. Why does anyone need anything more?

March 5, 2021
12:28 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

The point is that they said they would send these things, they said they DID send them on time, and nobody has apparently received them. This is a cause for concern whether you use online banking or not.

I mailed a birthday card to Europe on Feb 23, and received word that it had arrived today despite an outbreak at the international sorting station in Mississauga.
So where is my T5 that only had to go part way across Toronto, allegedly mailed Feb 17, let alone 2 other Oaken documents that were supposedly mailed Feb 25?
It doesn't add up.

March 5, 2021
4:44 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

No mail received from oaken today.

I just looked up what happened last year:
T5 allegedly mailed Feb 10; arrived Feb 24.
RIF allegedly mailed Feb 17; arrived Feb 27.

So, it would appear that Oaken is chronically slow with their document mailings. I don't believe any of these documents went into the mail on the dates claimed. Maybe it's the day they ordered the print run.

March 5, 2021
5:24 pm
Kidd
Member
Members
Forum Posts: 658
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

How good were those chocolates now?

March 5, 2021
7:19 pm
AltaRed
Member
Members
Forum Posts: 1322
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline

Out of my 20 or so tax slips, ~5 of them still insist in coming in paper form. I received the last one (I think) today. Generally, I would allow 2 weeks from the end of February for T5s to arrive after which time I'd likely inquire (certainly by late March).

There are 8 weeks left to file so it isn't like there is any rush and particularly if available online as well.

March 6, 2021
3:43 am
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

For the 3rd or 4th time, it's not about what is or is not available online or about filing taxes.

It's about mail that is missing which has sensitive data on in it - in my case 3 envelopes.
It's about an FI that claims to have sent out mail on a date when it clearly did not.
Last year it took them 2 weeks and 10 days respectively to deliver my envelopes a few miles, when covid was not really an issue. Post Office standard is 2 to 4 days under normal circumstances. They were ALL significantly late last year and will be even later this year if they ever arrive. This year, they are blaming the post office and covid. Covid may have made it a bit worse, but the problem lies with Oaken because this is a repeated behaviour. It is taking far less time for me to send LetterMail to Europe than for Oaken to send it within Toronto.
I don't think the post office has singled out Oaken to get bad service. We had received all our other FI tax slips several days ago, including several out of province, many by post.

FYI, the previous T5 , covering 2018, arrived Feb 13. I don't know when it was allegedly mailed. They are clearly getting significantly slower every year: Feb 13, then Feb 24, and now not even by March 5.

The chocolates get delivered on time at least! - probably because Oaken outsources the shipping. They should maybe consider outsourcing their other mail because they clearly can't get it done on time.

I really don't like the fact that they lie to us and blame others.

March 6, 2021
7:51 am
Norman1
Member
Members
Forum Posts: 3898
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

It may very well be that Oaken agents are misinterpreting the T5 date shown on their system. That date is likely when the T5 slip was printed.

Could be a bozo moment in the mailroom. Someone forgot to top up the water tank on the envelope stuffing machine. As a result, a large part of the envelopes ended being stuffed but not sealed. Now, they have to be sealed by hand!

March 6, 2021
2:03 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Norman1 said
It may very well be that Oaken agents are misinterpreting the T5 date shown on their system. That date is likely when the T5 slip was printed.

Could be a bozo moment in the mailroom. Someone forgot to top up the water tank on the envelope stuffing machine. As a result, a large part of the envelopes ended being stuffed but not sealed. Now, they have to be sealed by hand!  

2 years in a row of not topping up the water? doubtful. And it's not just "a large part" of the mail that is late. Nobody has reported receiving it.

It's not just that the CSRs are looking at misinformation. The same info is on their public website and also came by email to customers. And it clearly says "mailed".

March 6, 2021
9:16 pm
AltaRed
Member
Members
Forum Posts: 1322
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline

FWIW Loonie, I do understand the concern about paper T5s potentially going astray and wondering who might have your SIN. That is the one piece of information that is highly sensitive. Actual interest is not necessarily so.

FWIW2, I have been hounding FIs for a very long time to always offer the option of an online PDF tax slip. I don't want any such tax slips with my SIN on them in Canada Post. CP is not a secure delivery system and especially if one gets their mail in 'community boxes' or worse, an old fashioned insecure metal box at one's front door.

In this case, it appears Oaken is dysfunctional two years in a row. Maybe it is time to dump that organization? Given they (meaning Home Capital Group) almost went insolvent in 2017, one has to truly wonder if they are a suitable FI to be involved with.

Added: I would like to dump all FIs that refuse to issue an online PDF tax slip because of my concerns about Canada Post deliveries but it is not practical in a few cases, e.g. ISAs/MMFs in brokerage accounts which insist on paper T3/T5. I was highly disappointed in LBC Digital when I found out those turkeys actually issue a paper T5 - from an online bank yet!!!!

March 7, 2021
4:43 am
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

I hear what you are saying, AltaRed, and it makes sense.

I can't dump Oaken right now because I have GICs coming due in upcoming years, if for no other reason.

But it is a blot on their copybook.

We're watching, Oaken. Chocolates only go so far.
Get your act together. You've been warned.

March 10, 2021
12:06 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

It's now 3 full weeks since Oaken claims to have mailed out portfolio statements.
Nothing received.

March 10, 2021
12:44 pm
topgun
Member
Members
Forum Posts: 378
Member Since:
September 6, 2020
sp_UserOfflineSmall Offline

Are the slips on their website?

A couple years ago I called my CU about a missing slip. They said it had been mailed weeks before. They reissued it. Only one arrived. I would call.

Have a Great Day

March 10, 2021
2:17 pm
Alexandra
British Columbia
Member
Members
Forum Posts: 186
Member Since:
September 24, 2019
sp_UserOfflineSmall Offline

I haven't received anything by mail from Oaken either. I printed the T5's from my on-line account.

March 11, 2021
6:32 pm
Loonie
Member
Members
Forum Posts: 6983
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Received today 2 tax slips and one Portfolio Statement. They finally made it through city traffic!
Still missing one Portfolio Statement, supposedly mailed Feb 25.

It's more than curious how a T slip and a Portfolio Statement, mailed respectively on Feb 17 and Feb 25 according to Oaken, both arrived same day.

I hope the rest of you have started to receive your documents. There is hope.

No permission to create posts

Please write your comments in the forum.