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Canadian Capitalist

  • CBC’s Canada’s Worst Cellphone Bill

    A recent episode of Marketplace on CBC featured cellphone customers who claimed to have Canada’s worst cellphone bills (you can watch it here). Cellphone customers had racked up thousands of dollars in charges either in air time, texting or, what appears to be fairly common, roaming charges while traveling abroad.

    The typical phone horror story also involved a dispute with the phone company: the customer claims she was misinformed in the phone store and the phone company points to the contract, which says something else. The customer is in tears, the phone company sticks to its guns and it makes for great TV. Especially, when Wendy Mesley, the show’s host adds to the debate by saying those rapacious phone companies are charging 15 cents for a text that costs them a third of a cent to provide.

    I’ve had my share of complaints with service providers and while I found myself sympathizing with most of the customers, it was hard to say the phone company was entirely at fault (except the lady who was incorrectly charged airtime and the phone company gave her the runaround). The hidden charges may be buried deep in the fine print but it is there and the client signed a contract agreeing to pay and the phone company is within its rights to demand payment.

    I was secretly glad that we’ve ditched our pricey monthly plans and gone the pre-paid route. Our annual cell phone bills with an el cheapo plan from Speak Out Wireless available through 7-Eleven costs us less than $50 per year not including the price of a phone. Granted, not everyone can be a light cellphone user but everyone can easily find ways to cut down on their monthly bill.

  • Auto & Home Insurance Premiums going up in Ontario

    Our auto and home insurance renewal documents arrived in the mail the other day. The bad news is that insurance premiums are going up sharply in Ontario. Our auto and home insurance premiums went up by 22 and 14 percent respectively even though we did not have any claims in the past year. The hikes [...]

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  • Budget 2010 provides Relief for Stock Option Tax Deferral Elections

    One of the measures in Budget 2010 (Pages 356 to 358) will be of special interest to Ottawa-area residents who elected to defer taxes on stock options. Some taxpayers who took advantage of tax deferral on stock options experienced financial difficulties when the value of the stock they received when exercising stock options declined in [...]

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  • Notes from Budget 2010

    Finance Minister Jim Flaherty tabled his fifth budget in Parliament today. There is plenty of print, broadcast and online coverage of the budget in the mainstream press, but if you are so inclined, you can read the entire 451-page document here. If you are only interested in the bits that directly affect your pocketbook, feel [...]

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  • What to expect in Budget 2010

    Unless the Government decides to spring a big surprise, the 2010 Federal Budget promises to be a big yawn. Here’s what we can expect in Budget 2010:

    The Government says that there won’t be any tax cuts (no surprise there, considering that the deficit will run at $56 Billion this year) or any tax increases in [...]

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  • Notes from the 2009 Berkshire Hathaway Annual Report

    Warren Buffett’s annual Letter to Shareholders is always worth reading even if you are not a shareholder in Berkshire Hathaway (BRK.A, BRK.B). The letters provide valuable insight into the major industries that BRK is operating in — insurance, regulated utilities, retail and services — all delivered in Mr. Buffett’s trademark folksy and witty language. Also [...]

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  • Sleepy Mini Portfolio Q1-2010 Update