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Email this4:10 pm
January 12, 2019
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ValueTime said
. . .
Oh yes and I mentioned my displeasure towards the new web interface but I could tell my comments were going in one ear and out the other.
I can only guess, but it's probably because the Hubert CSR's are getting tired of hearing all the complaints about the new interface.
I wonder if the Sunova BOD are even aware of how unhappy the Hubert members are.
" Live Long, Healthy ... And Prosper! "
5:56 pm
May 28, 2013
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Hubert T5s do not match/balance to the interest earned in my HISA.
2019 T5s are $20,895.89 too high
So I decided to go look at previous years.
2018 T5s are $1,336.30 too high
2017 T5s are $3,117.65 too high
Note: I've checked my transactions 3 times. It's actually relatively easy to do on the "new" website. Anyone else care to check their records?
This is very serious!
6:35 pm
October 21, 2013
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I check mine every year and have never had a problem with this FI in regards to T5s.
I received 2 this year, one for interest and one for RIF withdrawal.
Why did you receive 3 different ones? Are they connected to different kinds of investments?
Is it possible that you have GICs with them and forgot to include the annual interest on them?, which must be declared whether or not you have received it yet.
7:04 pm
May 28, 2013
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I have two savings accounts. Why? One is me and the other is business savings.
Yes I know Hubert does not have business accounts but this works and it's ok with my accountant.
Whenever the business savings gets monthly interest for cash on deposit or when a GIC matures then I immediately (or almost immediately) move all the interest over to my account. So all interest earned in both accounts is declared by me as personal income and I pay the tax. The principal still shows in the business books. This is why I get 2 T5s but one of them was duplicated (I think).
The 4th T5 was for interest earned in my personal US$ account. Back in 2008 when our dollar was worth more than the US I bough A WHOLE BUNCH of US$ so whenever we go to US and spend money in our minds it's at PAR!
Oh did I mention my wife likes to shop!
7:15 am
December 7, 2011
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I also noticed, that mine 2019 Hubert T5 shows $7.91 interest higher, than actually earned and deposited to HISA.
I don't mind to pay extra taxes on $7.91 never deposited to my account, but it's alarming and serious omission, I agree.
8:42 am
April 26, 2019
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Wow. I have some questions.
To manually calculate interest:
HISA is straight forward
GIC interest paid annually is straight forward
GIC interest on a multiple year term NOT paid annually....how to you figure this one out?
OK Dean!!!
Sloppy website!!!
Sloppy book keeping!!!
What should we do?
If this small group has the time and initiative to verify T slips and call them....lets do it!! Boy wouldn't it be a nightmare at Hubert if we all called in on the same day!! But will it make them squirm or are there other avenues with more muscle???
So are we saying also that Hubert is not to be trusted....sounds like it?? I think they need to do a blanket notification to all customers and re-issue all and every T slip with an error. That would be the right thing to do.
And Hubert fix year 2019 and what about previous years too??
10:48 am
January 12, 2019
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ValueTime said
Hubert T5s do not match/balance to the interest earned in my HISA.
2019 T5s are $20,895.89 too highSo I decided to go look at previous years.
2018 T5s are $1,336.30 too high
2017 T5s are $3,117.65 too highNote: I've checked my transactions 3 times. It's actually relatively easy to do on the "new" website. Anyone else care to check their records?
This is very serious!
Yes ... That ⬆ is 'VERY' SERIOUS❗
I just checked my Hubert 2019 T5 ... fortunately mine is correct, right down to the penny.
For those here who have incorrect Hubert T5's, I hope Hubert is quick to make the necessary corrections. Please keep us posted.
" Live Long, Healthy ... And Prosper! "
5:41 pm
May 28, 2013
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Ok now I understand ... AND I sent an apology.
- The extra T5 is a mistake which I can ignore.
- The other two T5s are fine once you understand what they do to make the calculations.
Example 1
$100,000 in a 2 year GIC paying 3%. The first year anniversary $3,000 will show up on your T5 then in year 2, the maturity there will be $3,090 on T5
Example 2
$100,000 in a one year "laddered interest" GIC. Lets say the first 1/4 of the term is 2.75% so $100,000 X 2.75% / 365 X 91 = $685.62 (approximately) on T5 + next 1/4 term ($100,000 + 685.62) X 3% / 365 X 91 = 753.07 yada yada yada
Does your head hurt now?
Oh and don't forget to add on the 12 monthly interest payments paid on cash in the HISA.
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