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I'm looking into investing internationally in a couple of emerging market funds. Anyone here have any experience with it and have good resources on what kind of accounts/anything else that needs to be done for tax purposes? I may have to make payments in the local currency as well so how do you go about taking the smallest possible hit on currency conversions?
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# ¿ Mar 25, 2017 19:59 |
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# ¿ Apr 28, 2024 15:28 |
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I'm exercising my options at my company, and I'd like to hold on to the stock for awhile. Is there a brokerage you guys could recommend? Can I hold it in a TFSA? What are tax related issues I need to look at when exercising options? (the company isn't publicly listed at this time)
mila kunis fucked around with this message at 01:15 on Sep 22, 2017 |
# ¿ Sep 22, 2017 01:09 |
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Wealthsimple's offering a 2% interest rate on an account here, is there some catch to this? https://www.wealthsimple.com/en-ca/smart-savings
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# ¿ Dec 13, 2018 17:44 |
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I (finally) paid off my student debt and have some discretionary income. Housing is completely unaffordable so I'm looking to invest, apologies for any stupid questions about to come your way. To start off: - Is there any downside to having a bunch of different RRSP/TFSA accounts at different places (TD, Tangerine, Vanguard, Wealthsimple are some I've looked at) and socketing small sums (say about 1-2k) in each? Or should I stick with one place? - The advice I've seen so far says that RRSPs are better if you're in a relatively high tax bracket, and also better if you can contribute to your spouse's (when you withdraw it comes out at your spouse's tax bracket) if they're in a lower tax bracket. Both these conditions currently apply to me. However, I believe myself to be in an extremely bubbly sector of the economy, and have zero guarantees I'll be earning at the same rate this time next year. Should I still look into an RRSP over a TFSA? - Probably a dumb question, but I'm also thinking of maybe holding high interest savings accounts in an RRSP/TFSA. To do this, do you have to open the registered account at the place that offers the high interest savings account, or can they be held cross institution?
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# ¿ Sep 19, 2019 15:18 |
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I've ways had my taxes done by a family friend but this year they're not available, and this is also the first year I've contributed towards an RRSP and a TFSA. How easy is it to do your taxes yourself on the CRA website? Or is it recommended to use some kind of helper software?
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# ¿ Jan 17, 2020 15:46 |
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I've maxed out my RRSP and want to contribute to a TFSA so I'm looking for a decent one. I found one at AlternaBank that's CDIC insured and has 2% interest rate. Does anyone know much about this - is there a catch/downside? Can you buy and hold securities in it like you could in a Questrade TFSA?
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# ¿ Apr 23, 2020 04:09 |
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Deciding between wealthsimple trade and Questrade for my TFSA. From my understanding, it seems like wealthsimple trade is strictly worse if you want to buy US assets, especially ETFs (which are free to buy on Questrade)? No commission, but you get bit by foreign exchange fees on both buying and selling, since you're forced to keep cash in CAD on that platform. In addition, if I go with Questrade does it make sense to do a Norbert's Gambit to initially convert all my cash from CAD to USD, and only start buying assets after doing so? Or is that risky/not worth doing for low value accounts?
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# ¿ May 7, 2020 01:40 |
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Are there any platforms where you can buy a foreign government bond directly?
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# ¿ Sep 11, 2020 19:00 |
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Hi, I have a silly question. I have maxed out my TFSA and have some cash left over. I'm not sure what to do with it, so I guess I might buy ETFs in a taxable account. Next year when I get more contribution room is there a mechanism to move the securities from my taxable account to my TFSA without selling them?
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# ¿ Jan 8, 2021 15:53 |
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What's a good ballpark figure for the total costs of buying a house as a percentage of the house price? (downpayment + sales tax, assessments, moving costs, new furniture costs, various legal/broker fees, installations and repairs, etc?) I've been told 1.25% -> 4% on top of the 20% downpayment but we're trying to be conservative for our own peace of mind, would 25% be way too conservative or realistic?
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# ¿ Jan 13, 2021 18:30 |
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Got another potentially dumb question for this thread about RRSP contributions and withdrawals. I'm wondering about whether to max out my RRSP contribution for 2020. Given my tax bracket and contribution room, I'd be getting 44% of that contribution back in saved taxes going by the wealthsimple tax calculator. However, I'm also seriously considering leaving the country at some point in the next few years due to the cost of housing - does anyone have a good resource on how much I'd get dinged on withdrawals with foreign residency from the government of canada side (I assume there might be tax implications from the country I move to as well but I'll leave that aside for now). I'm trying to calculate if I'd still come out ahead given the penalties. mila kunis fucked around with this message at 18:37 on Feb 22, 2021 |
# ¿ Feb 22, 2021 18:35 |
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https://www.investmentexecutive.com/news/industry-news/liberals-promise-new-tax-sheltered-account-for-downpayment-savings/ "The First Home Savings Account would allow Canadians under 40 to set aside up to $40,000 toward the purchase of a first home, with no tax on contributions or withdrawals. Contributions to the account would be deducted from income, as with an RRSP, and remain tax-sheltered until withdrawn tax-free as with a TFSA, up to a maximum of $40,000. If funds held in the account weren’t used for a home purchase by the age of 40, they would convert to normal RRSP savings, the Liberals proposed." This seems totally useless for actually being able to get an affordable home, but it does seem like a supercharged tfsa+rrsp? Should I hold off on my rrsp and tfsa contributions and wait to see if this comes into effect?
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# ¿ Aug 27, 2021 18:57 |
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Yeah I mean I don't trust them either but I have a limited amount of money to go around. I guess I could hold off on the RRSP contributions but put some into my TFSA. Speaking of the TFSA, my CRA account doesn't seem to show my contibutions over the last 2 years and show a much higher contribution room than it should. It's a little annoying because I have to double check my contributions to my TFSA accounts and subtract by hand, is there a way to directly link my TFSA accounts to the CRA so it actually tracks it?
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# ¿ Aug 27, 2021 21:33 |
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I exercised a bunch of options my company gave me a couple years back and I have shares (privately held, not on any exchange). The company offered to buy me out. Is there a good resource on what tax I'm liable for at the time of exercising (was I liable at the time of exercising? it wasn't public stock so I have no idea), and how much I'll be liable for after selling and receiving actual cash for it, and how to prepare documentation for it at tax time?
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# ¿ Nov 19, 2021 15:23 |
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Mantle posted:I'm not sure? I didn't negotiate, they just offered it to me at that rate. I'm early 40s and I use Tangerine for my payroll direct deposit so they have visibility into my income. Yeah same, but at TD. They offered it to me out of the blue. I have no idea why or what to do with it though, I've only used it once for a check for a car purchase that I paid off ASAP.
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# ¿ Jan 24, 2022 21:10 |
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With inflation going on I'm looking to put some of my savings into relatively safe investments, does anyone have any thoughts on: - inflation protected securities bonds/securities (I know the US has these, are there good equivalents in canada?) - buying bonds vs buying bond ETFs - with interest rates rising, are GICs and savings accounts offering interest worth a drat?
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# ¿ Dec 1, 2022 20:15 |
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Anyone know if/when FHSA accounts will start being provided at banks?
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# ¿ Mar 11, 2023 19:11 |
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tragic_ethos posted:I’ve read IBKR is still the choice if you’re going to buy overseas stocks, but doublecheck the fees. It can become extortionate level, though I think all the major players allow it. I’m with TD Direct Investing now, but I liked the Questrade platform as well. Can you buy GICs at IBKR?
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# ¿ Mar 21, 2023 11:25 |
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Anyone here gotten a FHSA yet?
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# ¿ Sep 2, 2023 19:19 |
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So I guess the order of priority for contributions for someone like me that's forever priced out of property would be FHSA -> TFSA -> RRSP? Or FHSA -> RRSP -> TFSA if in a sufficiently high tax bracket?
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# ¿ Sep 4, 2023 23:17 |
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Any downside to buying a HISA ETF like CASH.TO for short term investing with money you might need in a year or so? I saw that banks were grumbling about their existence, so idk.
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# ¿ Sep 12, 2023 18:20 |
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VelociBacon posted:What rates are they offering? I tried to google it and it kept going to www .cash.to and I gave up (don't go there). https://horizonsetfs.com/ETF/cash/
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# ¿ Sep 12, 2023 20:20 |
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I got my T4 but this year I also have to wait on a 'T4FHSA'. I wonder why this needed a form from your bank and you can't just declare deposits like you can with your RRSP. In any case I wish this poo poo would just autofile itself without needing my input, there's nothing complicated about my taxes and the CRA has all the data they already need. loving tax software lobby.
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# ¿ Feb 21, 2024 14:54 |
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# ¿ Apr 28, 2024 15:28 |
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I think CASH.TO had a gross divided yield of about 4.9% on their last payout. Not sure what it ends up being after fees and such but I think it's still not too far from the gross
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# ¿ Mar 2, 2024 21:48 |