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I read that holding American dollars and the American versions of Vanguard's index ETFs on RRSPs and TFSAs negates their tax free status. Is that true?
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Jan 19, 2016 18:22
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Olive Branch posted:I read that holding American dollars and the American versions of Vanguard's index ETFs on RRSPs and TFSAs negates their tax free status. Is that true? I believe if you're a Canadian citizen only (not US) then you eat withholding tax on dividends but otherwise no. Someone correct me if I'm wrong though. I guess I might just overload heavily on VUN but not having a REIT option kind of sucks - would it be that bad if I used my US TFSA w/ currency conversion for a 10% slice of my portfolio? It sucks being so effected by currency volatility though.
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Jan 19, 2016 19:06
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Holding US-listed stocks or ETFs incurs a 15% withholding tax on any dividends. In a non-registered account, you can claim it as a credit on your tax return. You don't have that option in a registered account, so the loss is unrecoverable. It's fine to want exposure to US REITs, but my advice would be to get that exposure when it's favorable to do so. There's no advantage to buying something like VGSLX right now and getting 70 cents worth of value for every dollar you invest. Vatek fucked around with this message at 19:36 on Jan 19, 2016 |
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Jan 19, 2016 19:11
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Olive Branch posted:I read that holding American dollars and the American versions of Vanguard's index ETFs on RRSPs and TFSAs negates their tax free status. Is that true? This is highly incorrect. The only kernel of possible truth is that the 15% withholding tax on dividends is unrecoverable in a TFSA (but it doesn't get charged in a RRSP!). You pay it anyway in a TFSA even if you hold the Canadian wrapped versions of these assets, so CAD vs USD is not the defining factor. In any case, don't overindex on trying to save this 15% of dividends, as we're talking 15% of like a 2-3% dividend yield in most cases. No big deal.
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Jan 19, 2016 19:24
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Which portfolio do you guys like best? 40% Beutel Goodman Canadian Equity MER 1.37% Front load: 0.5% 60% Baillie Gilford Global Equity MER 0.77% Front load: 0.75% 40% BlackRock Canadian Equity Index MER 0.2% Front load: 0.2% 60% BlackRock MSCI All Country World Equity Index MER 0.25% Front load: 0.25% I'd love to use ETFs but my choices are a bit limited if I want employer match.
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Jan 21, 2016 03:23
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rouliroul posted:Which portfolio do you guys like best?
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Jan 21, 2016 03:38
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Concur. First one is pretty lovely, second one is only kinda lovely. e. unsolicited advice because I've seen others fall into this trap before - if you're only contributing the minimum required to get the maximum match, make sure there aren't any weird stipulations like company matching being spread across all pay periods which in effect requires you to contribute something every paycheque to receive it in full. Guest2553 fucked around with this message at 04:13 on Jan 21, 2016 |
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Jan 21, 2016 04:08
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Ugh my broker is worthless. Bought more funds on Jan 20at the low and as of today the order is still 'filled' and not 'settled'. Market's been going up since so their slow asses cost me.
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Jan 25, 2016 04:37
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cowofwar posted:Ugh my broker is worthless. Bought more funds on Jan 20at the low and as of today the order is still 'filled' and not 'settled'. Market's been going up since so their slow asses cost me.
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Jan 25, 2016 04:41
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Less Fat Luke posted:"My broker"? Why would you not use a discount online brokerage like Questrade or something?
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Jan 25, 2016 04:44
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cowofwar posted:I used to be with RBC Dominion Securities but they dicked me around one too many times. I then tried to move to Questrade but they kept failing to transfer in kind from RBC. It was a pain setting up an account and then they couldn't do anything properly so I just moved to MD Management instead who promptly managed to move my portfolio in kind from RBC.
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Jan 25, 2016 04:46
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Less Fat Luke posted:That sucks, sorry to hear that. I've moved a few things to Questrade and it's been okay - their support team seems pretty responsive. Maybe check out Qtrade (not sure who got the name first, but what the gently caress) or Virtual Brokers if you're still interested in low-fee manual trading.
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Jan 25, 2016 05:04
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cowofwar posted:I'll probably eventually try Questrade again due to their free trades on ETFs. My current portfolio is all low MER mutual funds but I can halve the MER by moving to vanguard ETFs if I can get the purchases without fees. 
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Jan 25, 2016 05:05
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While we're on the topic of Questrade, there's no way to automate purchases of ETFs, is there? I'm guessing that's what WealthSimple and the like are for. Basically I just want to contribute $x dollars and have it buy an ETF every month or something. The main reason is because I don't want to look at the value of my portfolio more than once a year. Right now I just try to zoom in to prevent seeing the figures but it's not easy.
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Jan 25, 2016 15:17
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I would advise one of the robo-advisors then, yeah. Or just give me your credentials and I'll do it! 
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Jan 25, 2016 19:06
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Haha, thanks. Maybe I'll just put my girlfriend's really strong (prescription) glasses on before I log into Questrade. Investing through colours only! That's the Canadian way.
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Jan 25, 2016 20:09
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Hey cra, 2002 called, they want their web design back. Thanks for making it hard for me to figure out how to set up automatic payments.
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Jan 29, 2016 23:16
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Cultural Imperial posted:Hey cra, 2002 called, they want their web design back. I love the page that allows you to check a box to disable seeing that page for the remainder of your visits on that day.
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Jan 30, 2016 01:39
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Yeah the CRA's website is a loving disgrace. Gotta love that "sign in with your bank  " bullshit as well.
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Jan 30, 2016 01:49
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Maybe it's like when they officially tried to make sure government office buildings look crappy to not upset the tax paying peasants the government wants really bad web design so no one gets upset at opulent government web design.
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Jan 30, 2016 02:04
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Lexicon posted:Yeah the CRA's website is a loving disgrace. Gotta love that "sign in with your bank Single sign on. It's very useful, and on some interstitial page which isn't a big deal  Cultural Imperial posted:Hey cra, 2002 called, they want their web design back. They have to deal with mandated web accessibility standards for screen readers. I agree it's awful but there is a reason for its awfulness.
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Jan 30, 2016 04:48
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There's like 100 permutations of what you can set up auto payments for. I just want all my loving debts to the loving cra to be paid automatically. If it's over 10k, email me a warning or something. Jesus Christ
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Jan 30, 2016 04:51
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I never liked the surprise, you owe us money and several hundred in interest. I'm sure you're suffering with that right now.
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Jan 30, 2016 05:19
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Baronjutter posted:Maybe it's like when they officially tried to make sure government office buildings look crappy to not upset the tax paying peasants the government wants really bad web design so no one gets upset at opulent government web design. The government's modern wed design is somehow even worse. Be glad you can't see it because it's everything horrible about web 2.0
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Jan 30, 2016 23:46
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https://gov.uk is amazing. Since Canada loves so many trappings of the UK (most of which are irrelevant) maybe we could replicate that here?
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Jan 31, 2016 00:38
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This is only tangentially related, but do any of you have resources for someone (me) who's interested in starting a business in Canada? Pretty basic stuff is what I'm looking for right now. A forum-type interface would be handy.
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Feb 2, 2016 00:10
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Count Roland posted:This is only tangentially related, but do any of you have resources for someone (me) who's interested in starting a business in Canada? Pretty basic stuff is what I'm looking for right now. A forum-type interface would be handy. This is pretty generic but probably a somewhat helpful starting point: http://www.canadabusiness.ca/eng/page/2856/ If you want vaguely specific checklists, province and business type matters. Otherwise, there are a few things to get started as a sole proprietor (usually all you need). - Business name search & registration (or just operate under your own name) - Business bank account (best to use a separate one for ease of accounting - will need this if you use a different name and ever get paid with/issue cheques) - GST/HST registration and PST registration if a) you're selling taxable goods/services (probably) and b) you'll exceed the small seller exemptions of 30k for GST/HST, PST varies. - Local business licensing - depending on business type and location you either must have this before beginning to operate or you could skip it and probably nobody will ever notice. Bears investigation. All of the above can typically be done start to finish within a two to five business day turnaround when you know what you're doing (unless you need renovations/inspections done on a storefront). Canada's among the easiest countries in the world to start a business. Otherwise, make sure you file a copy of every single receipt and invoice! Ideally roughly organized and not just in a shoebox.
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Feb 2, 2016 08:08
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I've been waiting for the day when the CRA finally comes after my tenant/roommate/friend for his student loans, and he just received a letter from the CRA last week. I can't imagine that it would be anything else but a final notice that they will begin taking legal action on his loans. Does anyone know how long that process will take? I need to know because he's always late with rent as it is, and if the CRA starts garnishing his wages to the tune of $500 a month, things will get really tight for him. I want to know how long I have before I have to have a conversation with him to tell him to get his poo poo together. Rick Rickshaw fucked around with this message at 20:12 on Feb 2, 2016 |
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Feb 2, 2016 20:09
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Rick Rickshaw posted:I've been waiting for the day when the CRA finally comes after my tenant/roommate/friend for his student loans, and he just received a letter from the CRA last week. I can't imagine that it would be anything else but a final notice that they will begin taking legal action on his loans. Cut all ties and move. They will eventually come to you asking for money or to pay more of the rent while they 'fix things' which is code for never pays you back.
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Feb 2, 2016 20:33
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jm20 posted:Cut all ties and move. They will eventually come to you asking for money or to pay more of the rent while they 'fix things' which is code for never pays you back. Well, he's a tenant in my house, technically. He's renting a room from me. It's an easy $7k~ a year at the moment. He always pays, just sometimes a week or two late. He doesn't have parties, doesn't make noise, hardly takes up kitchen space. And he's a friend, so it's hard to be too rough with him. It's also pretty easy for him to just move back home if push comes to shove. I'm not too worried about kicking him out if I have to. I'm trying to preserve the easy money I have coming to me right now by having a conversation with him about what a future of wage garnishment would look like. I just want to know how much time I have before I have to have that conversation. Rick Rickshaw fucked around with this message at 20:47 on Feb 2, 2016 |
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Feb 2, 2016 20:45
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James Baud posted:This is pretty generic but probably a somewhat helpful starting point: http://www.canadabusiness.ca/eng/page/2856/ Cool, I'd found that government website, seemed pretty handy. The bank account thing is an important point. I'm kinda starting a business inside another business, so a major question that has yet to be defined is exactly how ownership will be divided between my boss and myself. I'll talk to my bank tomorrow to see what they have to say. Thanks for the advice.
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Feb 2, 2016 22:15
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Rick Rickshaw posted:I've been waiting for the day when the CRA finally comes after my tenant/roommate/friend for his student loans, and he just received a letter from the CRA last week. I can't imagine that it would be anything else but a final notice that they will begin taking legal action on his loans. The CRA rarely does wage garnishment for student loans and unless he makes a ton of money he can get the 500 bucks cut in half.
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Feb 3, 2016 22:43
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Whoa, haven't looked at my investments for a while, see I need to do some rebalancing. Is there an easy way to rebalance on TD Easyweb or will I have to bust out the math skills? I did set up automatic purchases on a monthly basis so in the future there is even less of a need to check in.
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Feb 3, 2016 22:46
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sbaldrick posted:The CRA rarely does wage garnishment for student loans and unless he makes a ton of money he can get the 500 bucks cut in half. Hmm, all I know is that the monthly payment they wanted from him a couple of years ago was around $400. I assumed that would have went up due to lack of payment. And I've heard the CRA can garnish up to 25% of your wages, maybe more. $250 would surely be a lot more manageable though, at around 12.5% of his income. Maybe I shouldn't worry about it then.
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Feb 3, 2016 23:13
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Bilirubin posted:Whoa, haven't looked at my investments for a while, see I need to do some rebalancing. Is there an easy way to rebalance on TD Easyweb or will I have to bust out the math skills? You don't want to rely on these jokers doing the math right. Do it yourself. Once you have more than one account (e.g. TFSA + RRSP, say) you have no choice anyway.
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Feb 3, 2016 23:15
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Rick Rickshaw posted:Hmm, all I know is that the monthly payment they wanted from him a couple of years ago was around $400. I assumed that would have went up due to lack of payment. And I've heard the CRA can garnish up to 25% of your wages, maybe more. It doesn't go up for lack of payment as far as I know but they will give you a break based on how much you make. But you have to pay them for it to happen.
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Feb 3, 2016 23:26
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The CRA can also freeze bank accounts if you don't pay them, we saw it on a way more regular basis than I would have expected when I worked at TD Bank.
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Feb 4, 2016 00:00
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James Baud posted:Otherwise, make sure you file a copy of every single receipt and invoice! Ideally roughly organized and not just in a shoebox. This is very important: if you take it to an accountant, they will probably charge more than you hope for just because someone like me has to root through receipts for things. I did three years of back taxes for a client that buys and sells rental properties, and he handed three years' worth of receipts (segregated by year at least) in shopping bags, and at least half of my billable hours was spent just segregating them into repairs & maintenance, food, etc., and then adding them all up.
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Feb 4, 2016 17:33
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Got an invite to apply for the Tangerine Mastercard, and was approved. I think it's time to retire my Canadian Tire Mastercard. Thing is I've used it for the last 14 years, and is by far my oldest line of credit. Would it be worth hanging onto for my credit score? I won't need it for utilization as I'm already under 10% even without it.
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Feb 13, 2016 20:05
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HookShot posted:The CRA can also freeze bank accounts if you don't pay them, we saw it on a way more regular basis than I would have expected when I worked at TD Bank. They will also put a lien on any property you own. I found out by mistake when they sent a letter to my address for a guy with the same first and last name as mine, but a different middle initial (and obv a different SIN). That dude owed them something like $70k, and the CRA was kind enough to put a lien on my place despite me never owing them a red cent above and beyond what I usually pay them. When I called the guy at the CRA responsible for the file he didn't seem too concerned until I told him I was about to write a letter to the Canadian Press. It got resolved tout suit after that. Apparently it had happened prior and they were called out for it, said they had addressed the root cause, and yet it happened to me afterward Saltin fucked around with this message at 14:53 on Feb 15, 2016 |
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Feb 15, 2016 14:49
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