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Looks like EQ bank has the best rate.
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Nov 2, 2020 20:52
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Almost! https://www.highinterestsavings.ca/chart/ That site also has an RSS feed and/or email newsletter for monthly updates, if you wanna passively keep up to date.
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Nov 2, 2020 22:53
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I just saw a Motley Fool article that says you're not allowed to invest in any non-Canadian stock market stock in your TFSA. Is there any truth to that? Because it sounds simultaneously like I would have read about that a lot earlier, and also like it could very much be a thing.
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Nov 8, 2020 01:07
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HookShot posted:I just saw a Motley Fool article that says you're not allowed to invest in any non-Canadian stock market stock in your TFSA. Is there any truth to that? Because it sounds simultaneously like I would have read about that a lot earlier, and also like it could very much be a thing. Completely untrue, article might have been about the lack of a Canadian tax credit for foreign taxes withheld on TFSA holdings, such as on dividends. I actually remember reading a tax court case won by the individual, where the CRA went after him for doing something not allowed in a TFSA and he successfully deflected blame to the broker - that if it wasn't allowed, it was on them to stop him. Can't remember the specifics but it might have been OTC penny stocks? Something reasonably obscure that most of us don't do, anyway.
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Nov 8, 2020 01:22
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It might be a challenge to find brokers that allow trading on exchanges outside Canada and US though... Think Interactive Brokers and HSBC offer it, but not really something I've cared about so not sure who else might.
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Nov 8, 2020 01:25
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Also the Motely Fool is garbage and has a combination of user submitted and generated articles for most of their content.
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Nov 8, 2020 05:10
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Sassafras posted:It might be a challenge to find brokers that allow trading on exchanges outside Canada and US though... Think Interactive Brokers and HSBC offer it, but not really something I've cared about so not sure who else might. IB only allows stocks traded on US and Canadian exchanges (excluding CSE). https://www.interactivebrokers.ca/en/index.php?f=13406&p=tfsa TFSA is allowed to trade the following qualified investments: Stocks listed on designated US and Canadian exchanges (excluding Venture-NEX segment and CSE single listed stocks) Long equity call options Long equity put options Short equity call options with a fully covered position (covered call) Long equity put options with a fully covered position (protective put). Long put/call options on indices. Warrants/Rights if the underlying asset acquired under the right to purchase is a qualified investment. U.S. Bonds. FX conversions limited to USD/CAD
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Nov 8, 2020 06:17
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pokeyman posted:Honestly can't decide whether Toronto Life got had or if this is correct, expected use of their column inches. Nobody at Toronto Life got in trouble for that story.
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Nov 8, 2020 06:22
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I am running VAB for bonds exposure, what’s a good equivalent for non-canadian more diverse bonds?
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Nov 8, 2020 06:29
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cowofwar posted:I am running VAB for bonds exposure, what’s a good equivalent for non-canadian more diverse bonds? Not an answer, but it's not necessarily a good idea to buy non Canadian bonds. https://www.moneysense.ca/columns/ask-the-spud-should-i-hold-us-bonds/
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Nov 8, 2020 06:34
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Kal Torak posted:IB only allows stocks traded on US and Canadian exchanges (excluding CSE). https://www.interactivebrokers.ca/en/index.php?f=13406&p=tfsa Sassafras posted:Completely untrue, article might have been about the lack of a Canadian tax credit for foreign taxes withheld on TFSA holdings, such as on dividends. Cool, thanks. It sounded like one of those "hmmm, I feel like I would have heard of this" things, but you never know. So I asked the internet instead of a professional, and came out on top.
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Nov 8, 2020 19:01
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cowofwar posted:I am running VAB for bonds exposure, what’s a good equivalent for non-canadian more diverse bonds? VGAB is an ETF based on a global bond index hedged to the CAD and is probably what you're looking for. qhat fucked around with this message at 10:42 on Nov 24, 2020 |
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Nov 24, 2020 10:32
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Is a bond ETF outperforming a HISA right now in terms of return and also expected risk? I almost wonder if a GIC (or laddered GIC ETF) or HISA is going to be better than a bond based solution in this weird time.
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Nov 24, 2020 11:18
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VelociBacon posted:Is a bond ETF outperforming a HISA right now in terms of return and also expected risk? I almost wonder if a GIC (or laddered GIC ETF) or HISA is going to be better than a bond based solution in this weird time. HISAs return around 0.05-0.10% right now which is as close to nothing as to make no odds. I feel like most bonds in bond funds these days will be premium bonds (owing to perpetually falling rates) which aren't tax efficient, but that can be mitigated with specific discount bond ETFs like ZDB. I'm not really an expert on this though, as a disclaimer.
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Nov 24, 2020 23:11
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qhat posted:HISAs return around 0.05-0.10% right now which is as close to nothing as to make no odds. I feel like most bonds in bond funds these days will be premium bonds (owing to perpetually falling rates) which aren't tax efficient, but that can be mitigated with specific discount bond ETFs like ZDB. I'm not really an expert on this though, as a disclaimer. Huh? You have several HISA options at 1.5% or higher https://www.highinterestsavings.ca/chart/
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Nov 25, 2020 00:38
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pokeyman posted:Huh? You have several HISA options at 1.5% or higher https://www.highinterestsavings.ca/chart/ Ah, you're right, I was looking at the rates offered by the big banks which seemingly offer terrible returns.
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Nov 25, 2020 01:58
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qhat posted:Ah, you're right, I was looking at the rates offered by the big banks which seemingly offer terrible returns. That’s their core business model!
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Nov 25, 2020 02:00
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Charge suckers fees to take their money and loan it to others with interest 
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Nov 25, 2020 02:32
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Does anyone have experience setting up, using, or contributing to an RDSP? I'm trying to steer a relative away from an advisor who will "set everything up" with 2.5% ER funds. Said relative is on board with the idea of self-directed investing for their other assets, but the RDSP looks scary to set up (and I can't blame them) so the advisor is alluring. They have been approved for the DTC. Having read through https://www.canajunfinances.com/rdsp/ I'm pointing this relative towards opening at TD, but I have no actual experience with the process myself. And I'm not entirely against hiring an advisor to help, but it seems like anyone who touches RDSPs wants to get paid with fat commissions off the funds they put clients in. Which is maybe ok for a client who would otherwise get $0, but I want to do better. My relative is also new to personal finance and investing in general, so I think a big part of it is adding the RDSP stuff on top of a pile that includes "what is a bond" and "what is a stock". Anyway, if anyone has any dos and don'ts to share about RDSPs, we'd appreciate it!
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Nov 25, 2020 18:04
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We've got an RDSP, they're not that bad to setup. Ours is through TD direct investing and we were able to get it all started in branch. It takes a little while for everything to go through the system but it's not a terribly long process either. Highly recommend to stick with low cost ETF's and mutual funds. The TD e series funds are quite reasonable. You're eligible for the disability grant and bond based on your income. The limits are fairly generous. The first year you need to ask TD to apply on your behalf, future years it occurs automatically. You'll be eligible for the two from when you are first granted approval for the DTC, so if you've had it for a while but never opened an RDSP the benefits do carry forward and you can retroactively apply for them. There's limits as to how much you can get in a year retroactively as all so be sure to read the government's page on RDSP's which spells out the limits clearly. Might take two or more years to catch up depending on how long they've had the disability before applying for an RDSP. The matching and government contributions are worth it big time. The government contribution is technically not yours until you've had it for 10 years , which applies as a sliding window to their contributions, but the interest and gains are yours to keep. Tax wise it seems a bit messy for withdrawals later in life. Your contributions are not taxed, but the government's contributions and any gains are. I guess we'll figure out how that gets accounted when the time comes.
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Nov 25, 2020 18:26
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That's awesome, thanks! Yeah the matching looks great, even better when it's not continuously whittled down by high fees. I didn't realize the bond and grant are retroactive, that's really good to know. I was worried about rushing someone who's not ready just to make sure they get this year's match. Do you have to apply specifically for the retroactive portion, or does it all happen with the first request?
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Nov 25, 2020 19:43
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I believe it's part of the first request, when your opening the account and your apply for the grant and the bond you put in the date you became eligible. For us the TD reps dealt with the applications on our behalf. E: oh, and fair warning, with a January deposit, it usually takes until March or April before the match hits the account. The wheels turn slow but can't complain about that match.
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Nov 25, 2020 23:33
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Sounds good, thanks again!
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Nov 25, 2020 23:43
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Bajaha posted:E: oh, and fair warning, with a January deposit, it usually takes until March or April before the match hits the account. The wheels turn slow but can't complain about that match. That isn't that much slower than the government match on an RESP. Seems about par.
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Nov 26, 2020 03:36
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I have a fairly complicated tax situation this year. I moved back to Canada after living and working in the US for four years, but I'm still working in my US job remotely. What's more, I got married and bought a house this year. Any recommendations for finding an accountant who specializes in Canadian/US taxes in the Ottawa region?
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Nov 27, 2020 02:55
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I looked at 5 houses today in Toronto in my price range (as per listing). I couldn't stand in the basements of 3/5. I'm just under 5'11". 50 percent of the house unusable. I'm going to have to tack on 100k just to stand in my own home.
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Nov 28, 2020 22:12
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Yeah I've been looking lately and noticed that's pretty common. I saw one listing the other day that said three bedrooms; one was the master, one was in a basement that had 5'7" ceilings, and one was their unheated converted garage. The listing of course also said it had a garage :| 1.7m
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Nov 28, 2020 23:33
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I'm not the only one here with 99 percent of their net value in VGRO, right? Is there a point where there's too much to have in 1 fund, even if it's a 1 fund solution? I'm assuming even if there was I'm not near it.
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Nov 30, 2020 19:19
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xtal posted:I'm not the only one here with 99 percent of their net value in VGRO, right? Is there a point where there's too much to have in 1 fund, even if it's a 1 fund solution? I'm assuming even if there was I'm not near it. Not really anything wrong with it, the whole point is that it's a one stop solution. It would only be 'wrong' if it wasn't matching your risk profile, which should be equivalent in that case to the risk exposure that 80% equities 20% bonds gives you.
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Nov 30, 2020 19:36
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xtal posted:I'm not the only one here with 99 percent of their net value in VGRO, right? Is there a point where there's too much to have in 1 fund, even if it's a 1 fund solution? I'm assuming even if there was I'm not near it. The number of funds you have has no effect on your weightings.
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Nov 30, 2020 20:39
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xtal posted:I'm not the only one here with 99 percent of their net value in VGRO, right? Is there a point where there's too much to have in 1 fund, even if it's a 1 fund solution? I'm assuming even if there was I'm not near it. You are not (well, a bit less than 99 and VEQT instead but close enough). Only reason I'll consider changing back to multiple funds is fees (5bps isn't worth it to me today but 20bps in 10 years might be) or weighting (e.g. if I wanna go overweight in factors).
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Nov 30, 2020 21:05
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I have a question about car financing. I've always leased cars but I'm looking at financing a new one because it's a great deal and I'm tired of having to go through the leasing process every 3 - 4 years whether I want a new car or not. With financing do you need to pay the taxes up front or are they bundled into the financing? My issue is that I'm in Ontario and the car is in Quebec so right now I pay the 5% GST and then pay the 8% PST when the car is registered in Ontario. I'd prefer to finance everything because I'm getting 0.9% through the manufacturer and I'd rather leave my money in my HISA.
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Nov 30, 2020 23:49
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xtal posted:I'm not the only one here with 99 percent of their net value in VGRO, right? Is there a point where there's too much to have in 1 fund, even if it's a 1 fund solution? I'm assuming even if there was I'm not near it. I am. Only sortof-issue I ran into is when I wanted to convert a chunk of long-term investments into short-term savings for reasons.
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Dec 1, 2020 00:32
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Is VRGO not especially liquid?
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Dec 1, 2020 00:55
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Super liquid, it's more the fact that there's some inefficiency in selling an asset that's 20% bonds to buy one that's 100% bonds. Super first-world problem.
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Dec 1, 2020 02:31
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I am putting an offer in on a house in Toronto.
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Dec 1, 2020 04:24
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Mr. Apollo posted:I have a question about car financing. I've always leased cars but I'm looking at financing a new one because it's a great deal and I'm tired of having to go through the leasing process every 3 - 4 years whether I want a new car or not. But Typically taxes are rolled into the financing. I think if you buy a private used vehicle you may get dinged at registration time. When I lived in BC for several years in the 90s that's how it happened to me at least.
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Dec 1, 2020 16:20
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slidebite posted:Disclaimer: I've only bought new vehicles in Alberta where we have no PST.
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Dec 1, 2020 18:45
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Mr. Apollo posted:I'd be buying it from a Quebec dealer. I'm trying to see if there's a way to roll the Ontario taxes into the financing or see if I can coordinate with an Ontario dealer and get them to handle the financing application. Call the dealership you want to buy from and ask if it's possible.
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Dec 1, 2020 21:12
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Mr. Apollo posted:I'd be buying it from a Quebec dealer. I'm trying to see if there's a way to roll the Ontario taxes into the financing or see if I can coordinate with an Ontario dealer and get them to handle the financing application. You would not be the first person to do this. Most dealers are well seasoned in this exact thing. They can sometimes even get you the Ontario plates, depending on how close to the ON-QC border they are.
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Dec 2, 2020 03:38
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