|
Post a screen shot of your reported transactions from CRA my account?
|
#
?
Dec 8, 2015 19:31
|
|
|
|
| # ? May 14, 2024 02:25 |
|
|
Mantle posted:Post a screen shot of your reported transactions from CRA my account? I never got my code in the mail and I never needed to use My Account for anything so I never bothered getting them to re-send it  But I think that just solved it, I put 10k in my TFSA in 2014, so $16,500 + $10k comes out to what I figured my TFSA amount should be. So the $16.5k number they have is the contribution room that I can use in 2015, not the total accrued ever?
|
|
#
?
Dec 8, 2015 20:33
|
|
|
Probably, yes.
|
|
#
?
Dec 9, 2015 01:41
|
|
|
Saltin posted:Once again the people who needed it the most were sold a bunch of bullshit - the only thing this rollback is about is the tax base the government can draw on, but it was sold as a "those 1%'ers won't get away with this any longer!" Meanwhile, they'll continue to exploit ridiculous tax loopholes and always stay ahead while you've just lost a significant part of your ability to save for retirement. If that's not motivation to bootstrap your way into the nation's elite so you can go 'gently caress you, got mine' with the rest of them, I don't know what is. It's also great from exempting yourself from things like 'negative interest rates' or 'the law'.
|
|
#
?
Dec 9, 2015 01:59
|
|
|
2016 TFSA contribution limit is $5,500 with no change or clawback to the 2015 one. http://www.theglobeandmail.com/glob...rticle27638448/
|
|
#
?
Dec 9, 2015 03:06
|
|
|
Did anyone actually expect there to be a clawback? That just seemed completely unreasonable and hard to implement.
|
|
#
?
Dec 9, 2015 18:29
|
|
|
Demon_Corsair posted:Did anyone actually expect there to be a clawback? That just seemed completely unreasonable and hard to implement. There were all sorts of silly prognostications, most of the based firmly in the "gently caress those people that can contribute 10k" feel.
|
|
#
?
Dec 10, 2015 14:22
|
|
|
Did the 10k stuff get passed or was it just an election promise?
|
|
#
?
Dec 10, 2015 21:31
|
|
|
As soon as the intent was announced it was allowed. But the 10k just got gassed so 
|
|
#
?
Dec 11, 2015 01:21
|
|
|
Rick Rickshaw posted:Alternatively, if you bank with CIBC you could try complaining about their mistake and demand they don't charge you for one of the transfers. If you don't bank with them, I'd say it's unlikely they'll do anything for you. James Baud posted:If the two RRSP accounts at CIBC are actually two of the same type and not held at different parts of the bank (and maybe even then...), you should be able to get someone on the phone who can tell you how to go about merging them together at CIBC "because you don't want two separate statements", etc. Since that would be within the same bank, I'd expect no charge for it. Then, once that's done, you could transfer out. If it's only one phone call or maybe a couple forms, not too bad, but at a certain point you have to decide how much hassle that $100 is worth. Thanks, employee who screwed it up! Good suggestions, I'll give this a try and see how it goes and then go from there. I only have $400 in this second RRSP account, if I can't merge the accounts it probably wouldn't even be worth it to 'cash out', would it? Assuming 35% tax rate I'd be looking at $140 in tax on it wouldn't I? Rick Rickshaw posted:Depending on your RRSP limit and marginal tax rate, you could consider contributing your TFSA amount to your CIBC RRSP and then transferring it out once you hit $25,000. This is a great suggestion I'd never thought about. I'd rather keep the funds more accessible than locking them into an RRSP. In this case I'd still end up paying $100 for the transfer of my TD FutureBuilder account, since Questrade will only pay for the transfer of one. I think paying $100 somewhere is unavoidable. Rick Rickshaw posted:Can you buy ETFs in Future Builder? If so, you could consider one of the CCP ETF portfolios: http://canadiancouchpotato.com/wp-content/uploads/2015/01/CCP-Model-Portfolios-Vanguard.pdf No ETFs in future builder, just a very limited number of funds: code: ?
m ! k e fucked around with this message at 13:27 on Dec 11, 2015 |
|
#
?
Dec 11, 2015 12:53
|
|
|
19 days until I shut down my RBC accounts and say good-bye to those fuckers. Worst bank ever as a client. Not bad as a shareholder though. I suppose I'll keep the no fee credit card just to give them a maintenance loss while I use my new Tangerine one.
|
|
#
?
Dec 14, 2015 04:13
|
|
|
cowofwar posted:19 days until I shut down my RBC accounts and say good-bye to those fuckers. Worst bank ever as a client. Not bad as a shareholder though. I suppose I'll keep the no fee credit card just to give them a maintenance loss while I use my new Tangerine one. Yeah, I've been a client or had to deal with as a client with most of the major banks and I have nothing but horror stories about RBC.
|
|
#
?
Dec 14, 2015 06:10
|
|
|
m ! k e posted:
US index?
|
|
#
?
Dec 16, 2015 04:52
|
|
|
m ! k e posted:Given these options, where does it make sense for me to park my money before transferring to Questrade (annually, if that makes the most sense)? Maybe a 0.75% MER money market Probably not a good bet right now, but that TD health sciences fund has been kicking rear end for me since I bought in. I hadn't done enough research, and hadn't heard of these "index funds" that seem all the rage, but I was trying to start saving for retirement, and attempting to diversify what I was investing in. So I took a total dice roll on the health sciences fund, thinking that we (Canada and the US) have an aging population, and health care looked like a growth industry. Then the next year Obamacare passed, and the fund gained 96%. The annual report had a line that is pretty much an unironic "Thanks Obama!" Good fortune like that helps offset the stupidity of buying TransAlta at $15 (currently around $6) No more messing round with this stuff for me. Anything I put my money in now is going to be an index etf.
|
|
#
?
Dec 16, 2015 10:18
|
|
|
With my investments allocated 100% to VXC, I've come through the past year of flat stock markets and tanking CAD quite well. Any recommended reading on whether I should consider "realizing" those profits by buying things related to oil and/or Canada? Does it make sense to rationalize buying CAD hedged equity or oil ETFs (having held none before) after a year of poor performance as similar to balancing? Or can you only rationalize rebalancing if you made the decision it before investments X and Y deviated in value? Am I just trying to time the markets? I just don't want to see oil shoot right back up to $100/BBL, carry the CAD back to parity, and take a 25% haircut. Thoughts?
|
|
#
?
Dec 17, 2015 19:00
|
|
|
From what I've read, hedging isn't worth it due to index tracking errors. What if the CAD stays below USD 0.75 for the next 10 years, and you've been hedged the whole time waiting for the payoff? What if it drops to USD 0.60 before it goes back up? You'll be paying an increased MER for the hedged ETF, and likely seeing a reduced return due to tracking errors. I wish I knew when oil was going to go back up, because then I would hedge. But I don't know when it will happen. Isn't it theoretically possible it will never go back up? Green energy has to reach a majority at some point (or else we're hosed). Maybe by the time the boom part of the cycle would normally return for oil, green energy will break the boom / bust cycle for oil. I don't really believe that last part, but it's possible enough an argument to talk myself out of trying to time the market.
|
|
#
?
Dec 17, 2015 19:32
|
|
|
Rick Rickshaw posted:From what I've read, hedging isn't worth it due to index tracking errors. What if the CAD stays below USD 0.75 for the next 10 years, and you've been hedged the whole time waiting for the payoff? What if it drops to USD 0.60 before it goes back up? My issue with that article (and the general online Canadian index investing community's "don't worry about" it attitude towards currency fluctuation) is that it's making the assumption that there is a "normal" currency exchange rate, and that in the long term, the fluctuations will therefore even out. Looking historically at various currency pairs, I don't see how you can make that assumption. Put another way, I'm happy to expose myself to the volatility of the value of the market in general, because there is reasoning and historical data that shows we can expect growth over the long term. I don't see why I should be happy about exposing myself to currency fluctuations, as the volatility there has no reasoning or historical basis to come out as a wash in the long term. I do see the reasoning behind not building a portfolio of "CAD Hedged" Index ETFs. They don't really do what they say they do, and they cost more. I don't think that that means that Canadians heavily invested in international securities (and the general advice these days is to go very heavily international) should just ignore the long term volatility of currency fluctuations though, there are surely other ways we can go about it by trying to anticipate what might happen that propels the CAD higher in the long term. Does anyone have any input on my reasoning up until this point? I'd love to be shown where my thinking is wrong so that I can stop worrying about it. If anyone agrees with my thinking, I'd love to discuss ways to hedge against a CAD that steadily gains over the long term.
|
|
#
?
Dec 18, 2015 01:30
|
|
|
^ I think your analysis and general thoughts on this are absolutely spot-on. As for hedging against a declining CADUSD, I'm not sure what one can really do in practice outside of finding a way to earn USD. Side note: I absolutely hate the general "oh well shucks - at least it's good for manufacturing " attitude we seem to get fed around this issue. I'm glad I'm not the only one who feels materially worse off every time the CAD notches downwards; as someone not in the market for wood or beaver pelts, everything I actually buy is ultimately priced in USD.
|
|
#
?
Dec 18, 2015 01:43
|
|
|
Is it possible to transfer cash between different accounts on Questrade? I finally got around to creating a RRSP, but accidentally funded my margin account. Also, is it possibly to transfer ETF's in kind from margin to RRSP? Or do you need to sell, and then buy again?
|
|
#
?
Dec 18, 2015 16:12
|
|
|
Reggie Died posted:Is it possible to transfer cash between different accounts on Questrade? I finally got around to creating a RRSP, but accidentally funded my margin account. The answer to both is yes and you can do it right through My Questrade.
|
|
#
?
Dec 18, 2015 20:02
|
|
|
Reggie Died posted:Is it possible to transfer cash between different accounts on Questrade? I finally got around to creating a RRSP, but accidentally funded my margin account.
|
|
#
?
Dec 18, 2015 22:37
|
|
|
Kal Torak posted:The answer to both is yes and you can do it right through My Questrade. Thanks, and... Less Fat Luke posted:You can totally do that, but Questrade will cancel the transfer if the originating account is left with less than the 250$ in value required to keep it open. Investment transfers seem to take about a day. thanks for answering my next question! My third question is; if transferring investments from a non-registered to a registered account, am I contributing the initial amount paid for the investments, or their value at the time of transfer? Reggie Died fucked around with this message at 23:57 on Dec 18, 2015 |
|
#
?
Dec 18, 2015 23:44
|
|
|
Reggie Died posted:Thanks, and... Value at the time of transfer. You also have to report the capital gain as it is a deemed disposition with proceeds again at the value at time of transfer. Do not transfer at a loss, it will be considered superficial and you will never be allowed to claim it.
|
|
#
?
Dec 19, 2015 00:51
|
|
|
If you do want to realize a loss for tax purposes you can replace the holding with something similar that has the same role in your portfolio right? Like replace ZPR with CPD or VAB with VSB?
|
|
#
?
Dec 19, 2015 17:14
|
|
|
Mantle posted:If you do want to realize a loss for tax purposes you can replace the holding with something similar that has the same role in your portfolio right? Like replace ZPR with CPD or VAB with VSB? This can be considered a superficial loss for tax purposes (meaning you do not get to claim a capital loss) depending on how identical the fund is and whether you replace it within 30 days. http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/127/lss-ddct/sprfcl/menu-eng.html Vatek fucked around with this message at 23:48 on Dec 19, 2015 |
|
#
?
Dec 19, 2015 23:44
|
|
|
Mantle posted:If you do want to realize a loss for tax purposes you can replace the holding with something similar that has the same role in your portfolio right? Like replace ZPR with CPD or VAB with VSB? You're fine so long as they track different indexes: http://canadiancouchpotato.com/2013/10/24/finding-the-perfect-pair-for-tax-loss-selling/ I'm going to be switching XIC for VCN and CPD for ZPR myself next week.
|
|
#
?
Dec 20, 2015 00:47
|
|
|
Hi guys. I'm selling my house in Vancouver and moving to San Francisco. I'll be renting in the US for at least a year until I know what I want to do and where specifically I want to end up, but I'm wondering what I should do with the net proceeds after paying off all my debts (probably somewhere around 200k) since I don't want to move the money down when the dollar is so bad and I'm not in a hurry. What's the best way to park this that will have it still reasonably accessible if I happen to find a dream house or something (unlikely, but you never know.)
|
|
#
?
Jan 4, 2016 23:27
|
|
|
How old are you?
|
|
#
?
Jan 5, 2016 00:04
|
|
|
Mid thirties. I have no other appreciable assets or savings, because I'm retarded.
|
|
#
?
Jan 5, 2016 00:30
|
|
|
I don't know if I'd recommend anything but a gic at this point. If you were moving it to the US is recommend using a ~fintech~ robo advisor like betterment or wealthfront. I don't know of any Canadian equivalents.
|
|
#
?
Jan 5, 2016 01:17
|
|
|
Cultural Imperial posted:I don't know if I'd recommend anything but a gic at this point. If you were moving it to the US is recommend using a ~fintech~ robo advisor like betterment or wealthfront. I don't know of any Canadian equivalents.
|
|
#
?
Jan 5, 2016 02:17
|
|
|
ephori posted:Hi guys. I'm selling my house in Vancouver and moving to San Francisco. I'll be renting in the US for at least a year until I know what I want to do and where specifically I want to end up, but I'm wondering what I should do with the net proceeds after paying off all my debts (probably somewhere around 200k) since I don't want to move the money down when the dollar is so bad and I'm not in a hurry. max out your RRSP with vanguard funds on questrade is decent if you like low effort, or TD e-series if you don't mind jumping through hoops. Personally, I'd probably buy something that tracks the nyse or nasdaq but you might want to hedge if you're going to be getting paid in USD from now on DON'T start a TFSA. the IRS will want to tax you on any gains. i'd probably keep like $20k or so liquid and dump the rest into your questrade/td account
|
|
#
?
Jan 5, 2016 06:32
|
|
|
the talent deficit posted:DON'T start a TFSA. the IRS will want to tax you on any gains. i'd probably keep like $20k or so liquid and dump the rest into your questrade/td account Same goes for RESPs, they're also a reporting nightmare in the US, so you likely want to liquidate before leaving if you have any open. You should probably consult a cross-border accountant for all this stuff. Canadian brokers generally don't let you trade once they learn you're non-resident, so choose investments wisely if you're not bringing the money with you. (You should bite the bullet and bring it with you.)
|
|
#
?
Jan 5, 2016 06:39
|
|
|
Don't the capital gains become a huge headache once you're dealing with two tax agencies, one of which is the IRS? For that reason alone, I'd be wary of leaving non-RRSP investments in Canada.
|
|
#
?
Jan 5, 2016 08:04
|
|
|
I have no idea how the taxes work. Do I have to file in both places? I thought if you were outside of Canada for more than six months or something the rules were different? I actually have no idea though. It didn't occur to me that leaving money in the bank would be taxable. Is there a good place to read up on this that isn't giant CRA documents?
|
|
#
?
Jan 5, 2016 18:26
|
|
|
Some questions about work RRSP program (Great West Life) 1. I assume, I can't somehow take this money out and transfer it into an stock brokerage account where I can manage it myself I guess? 2. Would it be a good idea to take out my current investments which are USD based and put them into CAD based investments now until the exchange rate stops being poo poo, then re-invest it back into USD then? I am 30 so I won't be needing these funds anytime soon.
|
|
#
?
Jan 5, 2016 19:45
|
|
|
ephori posted:I have no idea how the taxes work. Do I have to file in both places? I thought if you were outside of Canada for more than six months or something the rules were different? I actually have no idea though. It didn't occur to me that leaving money in the bank would be taxable. Is there a good place to read up on this that isn't giant CRA documents? This is a hideously complex area, so I won't attempt to answer it beyond imploring you to talk to a cross-border accountant and/or tax attorney. The problem with leaving investments here is that you purchase at $X CAD, then leave the country, and at some point in the future, they're worth $Y CAD. It's not at all clear to me how you attribute the gain/loss between countries and it sounds like a goddamn nightmare to be honest.
|
|
#
?
Jan 5, 2016 19:48
|
|
|
lol internet. posted:2. Would it be a good idea to take out my current investments which are USD based and put them into CAD based investments now until the exchange rate stops being poo poo, then re-invest it back into USD then? I am 30 so I won't be needing these funds anytime soon. We've talked about this in this thread a couple of times recently. The only way to invest in CAD but still be exposed to non-Canadian markets is to currency hedge. There are a couple of arguments against hedging. One of which is that currency-hedged investments cost more, and they're also less likely to properly track the index they're attempting to track (for worse). Another is that you can't be sure, if ever, that the CAD will recover to make the hedging worth it. It could also drop more before recovering, or drop more and never recover. So worst case is you could hedge for 20 years, paying more for hedging all the while, and the CAD never recovers, drops further, or it goes up a little but you fail to time it properly and it goes back down before you sell. Best case is you time the market perfectly and sell at some future high of the CAD (which is hard to do), but you're still down the hedging fee and tracking errors. That being said, if you want to invest solely in the Canadian market and avoid currency issues all together, then...I guess you could do that! But I wouldn't. Rick Rickshaw fucked around with this message at 20:10 on Jan 5, 2016 |
|
#
?
Jan 5, 2016 20:06
|
|
|
The thing is I don't mind being invested in the CAD-only market with this RRSP account so I would not hedge. I would have other funds in the US market outside of this RRSP.
|
|
#
?
Jan 5, 2016 20:20
|
|
|
|
| # ? May 14, 2024 02:25 |
|
|
ephori posted:I have no idea how the taxes work. Do I have to file in both places? I thought if you were outside of Canada for more than six months or something the rules were different? I actually have no idea though. It didn't occur to me that leaving money in the bank would be taxable. Is there a good place to read up on this that isn't giant CRA documents? canada doesn't give a poo poo about taxes on earnings outside canada once you leave but you will have to file taxes if canada decides you are still resident. even having a bank account here could mean you are still considered a resident. once you're in the usa they will want to tax you on everything you own/earn, even if it's in canada. there are tax treaties that will let you hold onto your RRSP without too much worry but anything else they will consider just regular old money, even if canada considers it tax advantaged (like a RESP or TFSA). if you become a us citizen they'll tax you forever, no matter where you go
|
|
#
?
Jan 5, 2016 23:24
|
|