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slidebite posted:Are there any EFTs which are heavily weighed on fixed income from countries like New Zealand where 1 year interest rates are in excess of 4%? I think you'd have to look at NYSE-traded funds. On the TSX you'd be looking at something like HAF or VBG, which are global funds with only small holdings in NZ bonds. AUNZ on the NYSE is probably the closest you're going to get but it only holds 11.95% in NZ bonds.
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Mar 4, 2015 17:41
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slidebite posted:Oh sure, income taxes are typically stupid easy. Yeah, it's stupid easy until you start dealing with dividends and capital and then suddenly your software introduces stuff like CNIL and oh god what the christ am I doing.
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Mar 4, 2015 18:28
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Don't worry, our friendly CRA is there for assistance. Just make sure to ask them 3-4 times from different employees. They have a 75% accuracy in their answers, so go with the more common response.
Golluk fucked around with this message at 04:50 on Mar 5, 2015 |
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Mar 4, 2015 18:55
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Golluk posted:Don't worry, our friendly CRA is their for assistance. Just make sure to ask them 3-4 times from different employees. They have a 75% accuracy in their answers, so go with the more common response. Little known fact: since 2009, CRA agents are required to give you an ID number if you ask, so you can make a note that on March 4th at 11:17 AM, you asked CRA agent # 123456 and they told you that you could expense that thing you asked about.
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Mar 4, 2015 20:18
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Franks Happy Place posted:Little known fact: since 2009, CRA agents are required to give you an ID number if you ask, so you can make a note that on March 4th at 11:17 AM, you asked CRA agent # 123456 and they told you that you could expense that thing you asked about. And that helps you how? If it's not legally deductible, it doesn't matter what anyone (including a CRA agent) told you.
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Mar 4, 2015 20:19
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Kal Torak posted:And that helps you how? If it's not legally deductible, it doesn't matter what anyone (including a CRA agent) told you. Being told the wrong information and having proof of that fact can often spare you the interest penalty when they reassess you later.
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Mar 4, 2015 20:22
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Franks Happy Place posted:Being told the wrong information and having proof of that fact can often spare you the interest penalty when they reassess you later. I'm not sure how having an ID number would qualify as proof of anything. Ultimately, it falls on the person calling to ensure they are receiving the correct information which is unfortunate. These aren't CA's answering the phone. And the tax code is difficult enough for even the most seasoned professionals to understand...a bunch of people being paid peanuts to answer the phone aren't going to be able to provide anything above the most general tax advice/information.
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Mar 4, 2015 20:31
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I spent a couple hours playing with simpletax.ca today. I gotta say I'm impressed. Very easy and quick to use. The word simple is a bit of a misnomer since even complicated returns can be completed on their website.
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Mar 5, 2015 01:56
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I used simpletax.ca this year, since ufile was messing up my charitable donations (and isn't free). I agree, was very quick, and it even uploaded my netfile return in a single click. I seem to recall having to log in to the CRA website and do the upload manually... although that may have been a couple years ago now.
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Mar 5, 2015 02:08
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terrain posted:I used simpletax.ca this year, since ufile was messing up my charitable donations (and isn't free). I agree, was very quick, and it even uploaded my netfile return in a single click. I seem to recall having to log in to the CRA website and do the upload manually... although that may have been a couple years ago now. Yeah, the CRA changed their policy a couple years ago and now allows tax programs to submit the file directly to them. Last year I submitted directly through ufile.
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Mar 5, 2015 02:20
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Kal Torak posted:I'm in a similar position as my wife works from home and runs her own business. I find Quicken Home & Business meets my needs: Kalenn Istarion posted:This is what I was going to suggest as well. Thanks, appreciated!
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Mar 5, 2015 20:59
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Hey guys, I'd like some advice on how to optimize my savings strategy. At the moment I am with TD, and my savings is kinda everywhere. -I have maximized my RRSP by using the Canadian Couch Potato using the TD E-series mutual funds - I contribute to them bi-monthly (right out of the paycheque) -I have a TFSA account that is 30% in the above E-series mutual funds (before i figured out the difference between TFSA and RRSP. I have since stopped contributing through the TFSA), the remaining 70% is sitting as cash. -I also have an unregistered US account for my own stock picks, as investing in US equities through my RRSP/TFSA seems like a huge PITA. What should I do to maximize my TFSA productivity? I'd like to invest it in something liquid that does not correlate with the markets. Ideally I would like to use to the funds to take advantage of another recession, but i'd also like it to do more than sit as cash. Thoughts and advice would be appreciated.
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Mar 9, 2015 02:35
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Furcifer posted:What should I do to maximize my TFSA productivity? I'd like to invest it in something liquid that does not correlate with the markets. Ideally I would like to use to the funds to take advantage of another recession, but i'd also like it to do more than sit as cash. You are trying to time the market. Don't.
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Mar 9, 2015 03:14
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Mantle posted:You are trying to time the market. Don't. So your saying is that I should be fully invested in the market always?
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Mar 9, 2015 16:52
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Furcifer posted:So your saying is that I should be fully invested in the market always? Well you haven't really given a timeline for how long you want to invest the money or your risk tolerance, but I would always have the money (e: fully) invested in a balanced portfolio of equity and bond indexes. The balance would be determined by your risk tolerance and timeline. Mantle fucked around with this message at 21:47 on Mar 9, 2015 |
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Mar 9, 2015 17:28
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Also as far as I understand it, for mutual funds the whole "risk" thing is just more how big your ups and downs will be, not if you "risk" your money being all lost. What's important is the long term average. So a conservative fund might see -1% one year, 7% the next year, then 2% and after 15 years average out to 5% or so, while a "high risk" fund might see all sorts of crazy poo poo like 20% one year, -15% another year, but after 15 years averages out to 7%. So the longer-term your investment, the higher risk you can go because all you care about is the long term average. But if you aren't investing long term, if you're just putting some money away for a few years, you don't want to need your money the year after your fund did -20%.
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Mar 9, 2015 21:24
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Baronjutter posted:Also as far as I understand it, for mutual funds the whole "risk" thing is just more how big your ups and downs will be, not if you "risk" your money being all lost. What's important is the long term average. So a conservative fund might see -1% one year, 7% the next year, then 2% and after 15 years average out to 5% or so, while a "high risk" fund might see all sorts of crazy poo poo like 20% one year, -15% another year, but after 15 years averages out to 7%. So the longer-term your investment, the higher risk you can go because all you care about is the long term average. But if you aren't investing long term, if you're just putting some money away for a few years, you don't want to need your money the year after your fund did -20%. This is a reasonable laymans summary of the ideas behind the risk reward trade off.
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Mar 9, 2015 21:58
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Furcifer posted:Hey guys, I'd like some advice on how to optimize my savings strategy. Try to stop thinking of each account type as a separate portfolio, think of it as one big portfolio split between account types. Also most decent brokerages offer US dollar rrsp accounts, so that's not too bad.
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Mar 10, 2015 19:10
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I'm finally making baby steps in the right direction. Currently waiting for my TD account to set up and have my current TFSA monies transferred over. In the mean time, I've set up an unregistered Questrade account. Can anyone recommend a spreadsheet template to track ETF purchases? I'm assuming it's important to know when, how many and at what cost I make purchases throughout the year(s)? Currently following the CCP Vanguard model.
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Mar 11, 2015 17:28
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Reggie Died posted:I'm finally making baby steps in the right direction.
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Mar 11, 2015 19:17
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Olive Branch posted:Just save and invest the same amount of money each month. Dollar cost averaging will be automatic and you'll come out ahead if you do that. I personally do that and just divide my monthly savings into 50-25-25 (that's my own allocation) and buy corresponding shares of those ETFs doing a little division. I was leaning more towards the tax implications of ETF's outside of a TFSA/RRSP. I clearly have alot more reading to do, but this was where I started: http://www.taxtips.ca/personaltax/investing/taxtreatment/etfs.htm
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Mar 11, 2015 22:16
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Reggie Died posted:Can anyone recommend a spreadsheet template to track ETF purchases? I'm assuming it's important to know when, how many and at what cost I make purchases throughout the year(s)? Currently following the CCP Vanguard model. TD will do this for you.
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Mar 12, 2015 15:47
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Saltin posted:TD will do this for you. Assuming I need to hold my portfolio with TD and I'm not going to move my whole portfolio over to TD so I can do this... Any other options?
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Mar 12, 2015 16:46
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Mantle posted:Assuming I need to hold my portfolio with TD and I'm not going to move my whole portfolio over to TD so I can do this... Any other options? My suggestion would be to just start your own, and you can make changes and such as you see fit. The important stuff is just recording what you bought at what price, as well as recording ROC and other ACB adjustments (Google those, they're good to be familiar with even if the ROC for many funds is fractions of a penny each year). Then take that info figure out how to math it in to whatever numbers you need for decision making.
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Mar 12, 2015 17:02
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Anyone have a good resource for short term investing advice? Say $30,000 principle and $1,000/mo for ~3 years. End goal of a mortgage down payment (in a non-bubbly area of the country).
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Mar 12, 2015 18:42
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unlimited shrimp posted:Anyone have a good resource for short term investing advice? Money market fund.
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Mar 12, 2015 22:31
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Saltin posted:Money market fund. Isn't that even worse than straight up high interest savings?
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Mar 12, 2015 22:34
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Lexicon posted:Isn't that even worse than straight up high interest savings? Yeah, savings account or cd or gic is probably better these days. But yeah for 3 years you want cash or cash equivalent with principle protection pretty much
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Mar 12, 2015 23:05
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Lexicon posted:Isn't that even worse than straight up high interest savings? Wow, yes they are. To be honest i haven't looked at a MMF in ages, it's always just been a go to for the scenario. Yeah high interest savings account is superior.
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Mar 13, 2015 13:23
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So both my TFSA and RRSP are maxed out and I'm looking to invest the rest in a non-registered account. Is there any particular ETF that you would recommend for non-registered account? Or any that I should avoid?
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Mar 15, 2015 04:57
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Chouk posted:So both my TFSA and RRSP are maxed out and I'm looking to invest the rest in a non-registered account. Is there any particular ETF that you would recommend for non-registered account? Or any that I should avoid? You should try to avoid picking different funds in and out of your tax advantages accounts unless they are materially different in type of income. Consider your overall portfolio balance as a whole and then, if you have a bias, it should be to keep interest income or dividends inside tax deferred and cap gains type funds outside. So say you have 20% domestic, 20% bonds, 20% international large cap, 20% international small cap and 20% emerging markets (this is not a recommendation don't do this, specifically) you'd be biased to leaving the bonds, large cap, domestic, small cap and emerging in your tax deferred, in that order. IE if 80% of your total wealth is in RRSP and TFSA the. You'd have all of your em holdings outside. If 70% deferred then you'd have 20% em and 10% small cap outside. The last thing you'd or outside deferred accounts is the bond fund.
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Mar 15, 2015 06:52
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Newb tax filing question: first year where I'm filing my own taxes using TurboTax, have a question about T5s. In 2014 I opened a TFSA and did the standard index investments in e-series mutual funds with TD. I contributed $5,000.00. I haven't received a T5 from TD, but instead just a statement that lists my total holdings, and Y-T-D distributions of interest, dividends and capital gains. The amount of capital gains I've earned is negligible; less than $100. Since this is in a TFSA, do I need to declare these gains on my tax return? Should I have gotten a T5 from TD for these investments? Halp.
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Mar 15, 2015 17:28
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n00b posted:Newb tax filing question: first year where I'm filing my own taxes using TurboTax, have a question about T5s. You should never get a T5 for a TFSA.
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Mar 15, 2015 17:46
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n00b posted:In 2014 I opened a TFSA and did the standard index investments in e-series mutual funds with TD. I contributed $5,000.00. I haven't received a T5 from TD, but instead just a statement that lists my total holdings, and Y-T-D distributions of interest, dividends and capital gains. The amount of capital gains I've earned is negligible; less than $100. Gains in Tax Free Savings Accounts are tax free. That's how a TFSA works. RRSP = remove money from income now, pay income tax on principal and gains later. TFSA = pay income tax on income now, pay nothing on principal and gains later. You will not be getting anything but an account update from TD because your contribution to you TFSA has no implications for your income tax.
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Mar 15, 2015 17:58
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That's what I was hoping, thanks!
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Mar 15, 2015 18:37
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Me and the wife just went through with simple tax. A few things on investment stuff was a little non-handholdy and confusing but I think we got it all done, really easy and sure beats paying some dude $50 to do it. A good program!
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Mar 16, 2015 01:05
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Kalenn Istarion posted:You should try to avoid picking different funds in and out of your tax advantages accounts unless they are materially different in type of income. Consider your overall portfolio balance as a whole and then, if you have a bias, it should be to keep interest income or dividends inside tax deferred and cap gains type funds outside. Thanks!
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Mar 17, 2015 03:26
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Is it fairly straightforward to transfer ETF's in kind between an unregistered and a RSP Questrade account? I currently have the unregistered account, and a maxed out TFSA (will be TD e-series once it's set up and transfered). I have no RSP's. I only *just* set up the Questtrade account, and only have $3K in there at the moment. I also have a chunk of money (~$20K) sitting in a savings account. I'm debating about just transferring it all into an unregistered account, then come next March, determine how much I want to contribute to RSP's and transfer it to a RSP questrade account. Or should I just set up the RSP account now and lump sum it right away?
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Mar 17, 2015 18:33
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Reggie Died posted:Is it fairly straightforward to transfer ETF's in kind between an unregistered and a RSP Questrade account? Yes, Questrade makes this very easy to do. You can do it through their online system and it takes about a day. Just be aware of the superficial loss rules.
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Mar 17, 2015 18:56
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Kal Torak posted:Yes, Questrade makes this very easy to do. You can do it through their online system and it takes about a day.
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Mar 17, 2015 22:42
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