🚀 go-pugleaf

In article <497@ubc-cs.UUCP> manis@ubc-cs.UUCP (Vincent Manis) writes:
>Chris Lewis remarks (in an extremely informative posting) that you don't
>need a SIN to open a bank account. I'm afraid that this statement is
>incorrect: the Tax Act requires that banks report interest on accounts (and
>therefore a SIN is required). 
 
When I worked in a bank you didn't need a SIN number to open an interest
bearing account. However, when it came time to pay the interest they
would withhold the maximum amount that might possibly have to be paid in income
tax.  I think a certain amount of interest had to be earned before this
rule applied (> 50?). 

  Donald Acton