It is that time of the month when all income is in, all numbers are added and we can now officially present to you the March 2017 Cheesy Index!
March 2017 Cheesy Index
This month we are very pleased to report yet another increase, and it is even bigger one than last month! We are up to 61%, that’s 1.5% for the month, an absolutely ridiculous MOM increase! We are now actually on track to hit the original 65% target already halfway this year. Unless there is a catastrophic market meltdown (wrong pun with North Korea at the moment…), we have a good chance to really get ahead this year.
Besides the usually contributors like the real estate, dividend income and our good savings rate, there is another reason why we shot up again this month. We finally (almost 9 month later than planned) got our Canadian taxes back from 2015! Well at least a portion of it….
We still worked a few months in Canada for part of 2015, before emigrating back to the Netherlands. Once we had sold our house, we maxed out the RRSP room available. An RRSP is a Registered Retirement Savings Plan. It’s the Canadian version of a tax sheltered/tax deferred investment account, which we manage ourselves. We both have an account and we keep the majority of our dividend stock here.
When we maxed out the contributions to these accounts, we also created a rather large tax refund for ourselves. However, due to the move and the requirement for special (paper!) forms it took a bit longer to get a tax return. When we did, the refunded amounts did not match with what we had in mind. So we called the CRA (Canadian Revenue Agency) to find out why.
Apparently we had not correctly filled out parts of the tax return, so eligible deductions were not accepted. Keep in mind that these special tax returns (non-resident) are far from easy and can only be done manually (we also did one for the Netherlands for the same year, again with issues). Mrs CF together with the CRA figured out what updates where required. We submitted the updates late last year.
And behold, we are now getting back what we had originally anticipated. The payment for Mr CF came in March. Another one for Mrs CF has already arrived too, but will not show up in the Cheesy Index until next month. So there will be another massive job next month too. We are a bunch of happy campers at the moment.
How did our net worth/index develop in March? Did you also receive a surprise income, bonus or tax return?