CAD Dollar Concerns

[Madame]

I have heard that they have certain tax consequences, do you know of any? I only have a small contract for the benefits, so our 75 rental wouldn't be a huge deal but we may rent out 19 and 20 if we can manage to use them.

Yes. When we rent we declare it as income, but you can claim maintenance fees to offset it. We paid for our contracts with a low interest HELOC and could declare the interest paid on the loans to help offset the income too. Really easy.

 

[gskywalker]

Yes. When we rent we declare it as income, but you can claim maintenance fees to offset it. We paid for our contracts with a low interest HELOC and could declare the interest paid on the loans to help offset the income too. Really easy.

Ok thanks, Sounds like a lot of work for $200 profit. By the time we take into account the percentage of the original purchase price and annual dues its about $200 CDN profit for 75 points. But if it proves impossible to go and they won't allow us to carry forward an extra year than I will look at it.

 

[Lperd]

We were planning on a WDW trip in fall but rethinking because of cost. For Canadians once you factor in airfare, park tickets, pricey park food, and the weak dollar, a Mexico trip seems like a much cheaper alternative

 

[Madame]

Ok thanks, Sounds like a lot of work for $200 profit. By the time we take into account the percentage of the original purchase price and annual dues its about $200 CDN profit for 75 points. But if it proves impossible to go and they won't allow us to carry forward an extra year than I will look at it.

Yes but they way the dollar is tanking, that $200 usd is going to be $300 cad

 

[FigmentSpark]

So, do I take the refund for my cancelled cruise, which I paid for on Cdn cards or do I take the rebook deal for next year?

If I take the refund, I'll have all that money refunded and re-converted into CAD from USD now, or whenever they get around to it. The good, I get a sligh profit over what I paid. The bad, it will all be credit on a card that gave me cash back for those purchases, so I'd probably lose the 3 or 4 % off the top of the refund.

The re-book option - I could be delaying getting that refund, because the cruise industry could be decimated by next year. I don't think (I can't imagine, anyway) DCL going out of business before then, but who knows, these days?

What to do.... ?

 

[Madame]

So, do I take the refund for my cancelled cruise, which I paid for on Cdn cards or do I take the rebook deal for next year?

If I take the refund, I'll have all that money refunded and re-converted into CAD from USD now, or whenever they get around to it. The good, I get a sligh profit over what I paid. The bad, it will all be credit on a card that gave me cash back for those purchases, so I'd probably lose the 3 or 4 % off the top of the refund.

The re-book option - I could be delaying getting that refund, because the cruise industry could be decimated by next year. I don't think (I can't imagine, anyway) DCL going out of business before then, but who knows, these days?

What to do.... ?

Me personally? I’d take the refund. Things are changing too rapidly to have a large amount of money tied up in a cruise vacation when the future of the industry, and my own personal finances are so questionable.

 

[gskywalker]

hey its still crappy but the rate has gone from $1.465 to $1.425 so that's a pretty big jump.

 

[FigmentSpark]

70.15

 

[AdamsMum]

What's wrong with Wonderland? Just curious as we've never been but have considered it.

Its just become a roller coaster park. It doesn't appeal to me.

 

[Jrb1979]

Its just become a roller coaster park. It doesn't appeal to me.

That's not true. Their Winterfest was done really well. Its more then just roller coasters.

 

[HappilyEverAfter80]

With the dollar dropping so much the only vacation to the States for us is Cedar Point as we have season passes. If families need their amusement park fix, there is always Wonderland in Toronto.

No way Wonderland can even come close to satisfying my Disney fix. Disney is not really an amusement park though. if you’re a roller coaster junkie though Wonderland is great!
We have a Disney trip planned for mid July, not sure if it will happen either, not just the covid19 but the weak dollar. It has to rebound a bit for us to go....

 

[Jrb1979]

No way Wonderland can even come close to satisfying my Disney fix. Disney is not really an amusement park though. if you’re a roller coaster junkie though Wonderland is great!
We have a Disney trip planned for mid July, not sure if it will happen either, not just the covid19 but the weak dollar. It has to rebound a bit for us to go....

I realize a lot of people that love Disney is for character meet and greets, the parades and fireworks. Wonderland is more then just roller coasters, their Winterfest was done really well and only a couple of rides were opened.

 

[Disneylover99]

I realize a lot of people that love Disney is for character meet and greets, the parades and fireworks. Wonderland is more then just roller coasters, their Winterfest was done really well and only a couple of rides were opened.

I don’t like any of the rides at Wonderland, but we got season passes this year just for Halloween Haunt and Winterfest. Crowded, but great fun! Both events were well done and even the Halloween Haunt seemed very family oriented.
I was expecting crazy, rude teens running around everywhere. We were happily surprised by how well mannered and calm the large groups were.

 

[HappilyEverAfter80]

I realize a lot of people that love Disney is for character meet and greets, the parades and fireworks. Wonderland is more then just roller coasters, their Winterfest was done really well and only a couple of rides were opened.

That’s fair, yes there is more to it than coasters, but overall it’s just not in the same category to me as Disney is... I am not trying to trump anyone’s experience there, and overall I think it has come a long way since my high school days. We may hop over there once this summer, but if for some reason we can’t go to WDW, I need to figure out what else to do in Canada. Traditionally it has been more expensive for us to travel in our own backyard...
So many what-ifs!

 

[bababear_50]

I took my jar of $1000.00 cash vacation fund dollars into the bank last week and asked them to deposit it into savings account. Most stores are refusing cash payments and asking for debit or credit cards.
I felt bad for the teller trying to unroll the new Canadian bills to get them to go through the counting machine and did thank her kindly for doing it.
Times will be tough but we are Canadian and being there for each other is what we are about!

Hugs
Mel

 

[FigmentSpark]

 

[Sue M]

I’m hoping our Aug trip is a go. I bought flights and the Canadian tix and paid most of hotel before CAD went down. So don’t plan on cancelling unless travel is a no go still.

 

[HappilyEverAfter80]

I’m hoping our Aug trip is a go. I bought flights and the Canadian tix and paid most of hotel before CAD went down. So don’t plan on cancelling unless travel is a no go still.

I wish we paid for the package before the dollar went down...
I could however buy plane tickets for our dates for $360 usd total both ways for my family, but last few days I started to think our July trip may not happen... hoping that it does, we may end up driving if it does.

 

[deedubb]

We are booked for July. At the moment, I am less concerned about the dollar and more concerned about COVID-19 in the US. At the current rate of infection in the US, I'm not sure I even want to go in July. Disney will always be there, but I can't say the same about myself or my family if we become infected.

 

[ilovetotravel1977]

@deedubb I'm with you on that! The US will need to be squeeky clean before Trudeau opens travel again.

Also, as long as their is a government-issued travel ban to the US, we will have SOME leverage. I purchased everything back in January well before this all started.