|
LTCG exemption only applies to qualifying small business proceeds, no? I don't think the Trudeaus are investing in many of those and holding for two years. Maybe a little angel investing. They can't use the LTCG against typical investment income.
|
#
?
Nov 25, 2016 15:43
|
|
|
|
| # ? May 16, 2024 17:02 |
|
|
Subjunctive posted:LTCG exemption only applies to qualifying small business proceeds, no? I don't think the Trudeaus are investing in many of those and holding for two years. Maybe a little angel investing. They can't use the LTCG against typical investment income. Oh yep, you are right, I didn't realize that.
|
|
#
?
Nov 25, 2016 15:48
|
|
|
Postess with the Mostest posted:Oh yep, you are right, I didn't realize that. It's mostly useful for families that actually run a family business, because when they sell it they can each claim the 800K against their portion.
|
|
#
?
Nov 25, 2016 15:54
|
|
|
I'm going to get a low-mid 6 wind fall I will need to use for projects in the next 10 years lets say. I'm thinking REAL ESTATE  Subjunctive posted:It's mostly useful for families that actually run a family business, because when they sell it they can each claim the 800K against their portion. Do I need to sell the company to get the exemption? or can I merely run it at an operating loss for a couple years and shutter it like the rest of the professional industry to save on taxes?
|
|
#
?
Nov 25, 2016 16:06
|
|
|
Risky Bisquick posted:Do I need to sell the company to get the exemption? or can I merely run it at an operating loss for a couple years and shutter it like the rest of the professional industry to save on taxes? You need to have a capital gain if you want to use the capital gain exemption.
|
|
#
?
Nov 25, 2016 16:08
|
|
|
Subjunctive posted:You need to have a capital gain if you want to use the capital gain exemption. Couldn't the company just hold sheltered investments for the duration I've set out though? That would get to the point where I would have capital gains, and I could issue dividends to family and flow back to me? Tax avoidance ITT. my money -> shell corp -> unsheltered investments -> $$$ GAINS -> cap gain exemption -> issue dividends to family -> dividends -> flowback ?? Risky Bisquick fucked around with this message at 16:13 on Nov 25, 2016 |
|
#
?
Nov 25, 2016 16:10
|
|
|
Risky Bisquick posted:Couldn't the company just hold unsheltered investments for the duration I've set out though? That would get to the point where I would have capital gains, and I could issue dividends to family and flow back to me? No, the company for which the sale proceeds are exempt needs to use 90% of its assets in carrying on an active business in Canada. The regs aren't hard to read, it's all in there. How would you have capital gains from the company holding investments, anyway? You didn't buy them, you're not selling them. They would be taxed in the hands of the company, and then again as ineligible dividends (grossed-up and discounted, per usual) if you decided to move the money out that way.
|
|
#
?
Nov 25, 2016 16:13
|
|
|
Maybe I should look at becoming a third party lender?
|
|
#
?
Nov 25, 2016 16:16
|
|
|
Risky Bisquick posted:Maybe I should look at becoming a third party lender? Just scam pregnant women and pre-med students, best ROI, suckers will buy anything with even low effort marketing.
|
|
#
?
Nov 25, 2016 16:29
|
|
|
My companies private stock plan qualifies for the LTCP exemption and I buy so much of that poo poo  (along with other diversified investments)
|
|
#
?
Nov 25, 2016 17:04
|
|
|
DariusLikewise posted:My companies private stock plan qualifies for the LTCP exemption and I buy so much of that poo poo Is there a liquid market for it? That's great if so (and if you hold for 24 months before selling).
|
|
#
?
Nov 25, 2016 17:06
|
|
|
Subjunctive posted:Is there a liquid market for it? That's great if so (and if you hold for 24 months before selling). The "share" price updates once a year, along with a share payout. 1 month later they do a buy/sell where you could liquidate everything you own or buy with a 100% match(up to a certain amount).
|
|
#
?
Nov 25, 2016 17:21
|
|
|
That's fantastic.
|
|
#
?
Nov 25, 2016 22:23
|
|
|
Please bear with this lengthy post, but I'm in need of some unbiased advice. I've read a hundred pro-con arguments on paying down mortgage vs. adding to savings portfolio, but I can't decide what to do for my situation. I have a fixer-up house that was way more fixer than house than I thought it would be when I bought it. Still got a great price. I owe about 100k on my mortgage now, with a home equity line of credit attached. (no balance) I'm trying to save 30k+ annually right now, just getting started with serious saving and investing. I planned to make a 10k RRSP contribution imminently, and another 10k (hopefully) by Mar 1 tax cutoff time to maximize my return. Within the next year, I also have significant remodel expenses anticipated, as well as a planned addition for the house. Addition estimates are about 80k, and probably can expect another 20k+ for other improvements. I had originally budgeted 50k total, but as I mentioned, the place was worse than I thought. I will not be able to pay cash up front for everything, so I'm both saving some in the house fund, and planning to borrow on the line of credit. Once I have a balance, I would pay that down as first priority of course. I'm thinking about paying chunks against my mortgage instead of my investments over the next year, though. This would both reduce my principal and increase my available credit for borrowing the rest I need for my reno. How do I decide how much to put where to maximize my bang for buck? TLDR: Starting to seriously save, planned to put 30-40k into RRSP but also spend 100k on home renos. Help!
|
|
#
?
Dec 10, 2016 18:25
|
|
|
It's probable that going all-in on the market would give the best result, but not guaranteed (especially on the short term). I'd probably contribute to both in were it me though, maybe a 60/40 split. The non-trivial sum of 15-20K into both RRSP and mortgage payments allows you to both reduce interest paid on your debt while being in the market for longer. It'd also (to me) be easier to rationalize the decision post hoc since you catch some upside either way, if you're the type to worry. If the house isn't for living in (ie, flipping/speculation) I'd throw all the money in the market though.
|
|
#
?
Dec 11, 2016 00:58
|
|
|
Just signed up for the Costco Capital One card, not sure what limit they've approved me for, but with no annual fee and cash back on gas/restaurants/and general purchases it'll probably supplant the Amazon Chase card as my regular card.
|
|
#
?
Dec 16, 2016 19:07
|
|
|
JawKnee posted:Just signed up for the Costco Capital One card, not sure what limit they've approved me for, but with no annual fee and cash back on gas/restaurants/and general purchases it'll probably supplant the Amazon Chase card as my regular card. It's great for gas (2% back) and restaurants (3% back) but you can do better elsewhere on everything else. They are at 1% for everything else but only once you hit 3K in spending. Assuming you aren't going to get any other cards, you should use the Costco one for gas and restaurants and the Amazon one for everything else.
|
|
#
?
Dec 16, 2016 20:08
|
|
|
So I'm looking into getting a e-series mutual funds account with TD. However I'm not actually with TD at the moment. I understand that opening an account won't be difficult. However, how do I contribute money into this account regularly if I don't want to use TD as my main bank?
|
|
#
?
Dec 21, 2016 06:23
|
|
|
Zettace posted:So I'm looking into getting a e-series mutual funds account with TD. However I'm not actually with TD at the moment. I understand that opening an account won't be difficult. Cheque or wire transfer will both work.
|
|
#
?
Dec 21, 2016 06:30
|
|
|
Zettace posted:So I'm looking into getting a e-series mutual funds account with TD. However I'm not actually with TD at the moment. I understand that opening an account won't be difficult. I have my TD e-series set up so that when I purchase funds it does a direct debit from my chequing account at another bank. Just like you can set up automatic payments for bills
|
|
#
?
Dec 21, 2016 06:38
|
|
|
I tried to open a TD Direct Investing TFSA online and had to take my ID to a local branch. Still no update for over a month. Their online applications are a disaster and don't work properly in Chrome. Do it in person at a branch.
|
|
#
?
Dec 21, 2016 15:18
|
|
|
Questrade!
|
|
#
?
Dec 21, 2016 17:21
|
|
|
Zettace posted:So I'm looking into getting a e-series mutual funds account with TD. However I'm not actually with TD at the moment. I understand that opening an account won't be difficult. Despite what everyone else said, they'll also open a debit account for you, because you can't have an online access number & card without one. And if you decide not to deposit anything in it, they'll silently cancel your access card, making you unable to access your TD eSeries! In fact, they'll do this so thoroughly that if you call them to ask about your account, they'll have no record whatsoever of that access card number ever existing!  The good news is, once you realize they have a terrible service, you don't actually need to have access to TD web to issue a registered request to transfer everything out of it.
|
|
#
?
Dec 21, 2016 17:28
|
|
|
Welp, I guess I'll just to Questrade since they can probably open my account faster. Since eSeries are TD only, is there something similar with low MERs I can buy?
|
|
#
?
Dec 21, 2016 18:59
|
|
|
Yeast Confection posted:Welp, I guess I'll just to Questrade since they can probably open my account faster. Vanguard etf
|
|
#
?
Dec 21, 2016 19:00
|
|
|
Blackrock has their iShares ETFs too if you don't want to have all of your money invested with one ETF company.
|
|
#
?
Dec 21, 2016 19:26
|
|
|
Jan posted:Despite what everyone else said, they'll also open a debit account for you, because you can't have an online access number & card without one. And if you decide not to deposit anything in it, they'll silently cancel your access card, making you unable to access your TD eSeries! In fact, they'll do this so thoroughly that if you call them to ask about your account, they'll have no record whatsoever of that access card number ever existing! Not doubting your personal experience (or disagreeing with your opinion of their service) but this really wasn't the case for me. I only have a TFSA e-series account with them (No chequing or savings), and have been using their Web service and access card for over two years now without any problem.
|
|
#
?
Dec 21, 2016 19:38
|
|
|
TD can be a little weird at times because their investment stuff is handled by a completely different institution (TD Waterhouse) and sometimes their retail banking side doesn't have the ability to interact with Waterhouse accounts.
|
|
#
?
Dec 21, 2016 19:49
|
|
|
Vatek posted:TD can be a little weird at times because their investment stuff is handled by a completely different institution (TD Waterhouse) and sometimes their retail banking side doesn't have the ability to interact with Waterhouse accounts. It doesn't have to be -- you can get a TD Direct Investing account that's not at Waterhouse (and incidentally doesn't have the same minimum balance fees that Waterhouse seems to have). Maybe going that route has something to do with what happened -- I honestly was far too irritated at that point to bother going to a branch to have my service investigated and restored.
|
|
#
?
Dec 21, 2016 19:52
|
|
|
Yeast Confection posted:I tried to open a TD Direct Investing TFSA online and had to take my ID to a local branch. Still no update for over a month. Had this happen to me too a few months ago. Eventually, on I think the third visit where the branch couldn't find my paperwork, they flat out told me it would be easier to make an appointment with an advisor.
|
|
#
?
Dec 21, 2016 23:37
|
|
|
Yeast Confection posted:Welp, I guess I'll just to Questrade since they can probably open my account faster. Lowest besides ETF's is Tangerine at 1.07% for mutual funds.(comparison ETF's are like 0.25%) It's a decent account for what it is a quick easy way for low value investing with no thinking, just insert money. I'm probably going to take my money from it and invest it into an ETF once I figure out how I want my portfolio to look like.
|
|
#
?
Dec 21, 2016 23:53
|
|
|
The TD dickdance is why I joined questrade as well. My
|
|
#
?
Dec 22, 2016 02:46
|
|
|
Will do! I have 15k to work with and regular contributions biweekly. Questrade seems geared towards people with double that. Not sure if I should go Tangerine for a few years to keep it simple, then move up to Questrade?
|
|
#
?
Dec 22, 2016 02:53
|
|
|
Yeast Confection posted:Will do! Eh, set it up now if you're planning on going for it. It's really not too difficult to log in to a different website and buy however many dollars worth of ETFs this paycheque. I think Tangerine is a good recommendation for someone with a little cash piling up who's liable to get suckered into a high MER option without a good, simple alternative they can set up in minutes. Kinda like buying something at Costco. It's probably going to be a decent blender.
|
|
#
?
Dec 22, 2016 03:37
|
|
|
Yeast Confection posted:I have 15k to work with and regular contributions biweekly. Questrade seems geared towards people with double that. Not sure if I should go Tangerine for a few years to keep it simple, then move up to Questrade? The recommendations for a certain minimum balance and few contributions date back from when there were purchase fees on ETFs of all kinds. The basic idea being that if you have to pay for each purchase, you end up offsetting whatever gains you might've gotten from lower MER. Hence needing a minimum amount of capital before the lower MER + fees actually translates into more savings. Now that Questrade (and some other discount brokers, depending on which ETFs) have zero fee purchases, that doesn't really apply anymore.
|
|
#
?
Dec 22, 2016 04:20
|
|
|
This thread is great. Thanks for answering my baby investor questions 
|
|
#
?
Dec 22, 2016 05:26
|
|
|
I came across these two articles by EarlyRetirementNow in which triply-leveraged short puts are used to generate passive income in a way that reduces volatility and increases total return. What they describe is a lot less worse than it sounds, but it seems one thing that enables it is the ability to lump all transactions together when reporting the gain/loss, which I don't think exists here. How viable would something like this be in Canada? I'll look into it myself since it's almost christmas and I have gently caress all else going on, but if anyone else has knowledge on the subject I'd love to hear it.
|
|
#
?
Dec 23, 2016 17:54
|
|
|
Just..... don't.
|
|
#
?
Dec 23, 2016 19:01
|
|
|
Guest2553 posted:I came across these two articles by EarlyRetirementNow in which triply-leveraged
|
|
#
?
Dec 23, 2016 19:46
|
|
|
|
| # ? May 16, 2024 17:02 |
|
|
Don't listen to them, this is the one weird trick to make you richer than you think.
|
|
#
?
Dec 23, 2016 19:54
|
|
