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Raenir Salazar posted:The price did go down, from 5 cents a share to 0.15 cents; I think the guy was claiming the company bought back the shares for cheaper and then announced the "good" news within days afterwards. The guy does not understand how the stock market works. Unknown's analysis is most likely what happened, on all counts, including the part where the guy got his trading advice from Reddit.
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Jul 20, 2022 21:39
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Poor guy, but that was a very entertaining hearing nonetheless.
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Jul 20, 2022 23:47
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From a brief google it seems that many exchanges also have a minimum share price to be listed (at least above 0.10), so a reverse split may be a necessity rather than just aesthetic. Gambled and lost seems like the best description. If he had a case he'd probably have better luck finding a lawyer.
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Jul 21, 2022 00:59
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mojo1701a posted:It's just a T1-ADJ request. All they need to know is what lines it affects, the reason why you're filing an adjustment, and they'll take it from there. Subjunctive posted:If it’s not in the NOA and you’re not already audit bait for other reasons, just lose the T5 again and save yourself the hassle, IMO. An audit itself isn't anything that frightens me as we don't do anything shady with our taxes, but I'd rather not go through the hassle.
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Jul 21, 2022 14:50
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slidebite posted:Thanks for that - I'll check into it! I don't think it'll be an audit. They'll just reassess you because they know about the income and slap on additional penalties. I had to pay an additional whopping $14 a few years ago because they reassessed my EI paid. You might be able to get away without additional interest or penalties if you apply under the Voluntary Disclosure Program, but I'm not versed enough in it to talk about its successes. Though if it's for $100 any additional penalties will only be a certain percent of tax outstanding so it might not actually be worth your time to do and just file the adjustment.
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Jul 21, 2022 18:01
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The idea that "reverse split correlates with bad things happening" does not prove a causative relationship between price and split. Yes, bad things are probably happening, but that is the real reason the stock is tanking, the stock tanking is the reason for the reverse split, not the other way around. Asserting otherwise implies that there's an arbitrage opportunity that investors are not pricing in beforehand, which there isn't, because the value of the company has not materially changed.
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Jul 21, 2022 22:00
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mojo1701a posted:You might be able to get away without additional interest or penalties if you apply under the Voluntary Disclosure Program, but I'm not versed enough in it to talk about its successes. I did a VDP submission in 2016 because I had messed up my exit event CRA paperwork when I moved to the US. A few months ago I got notice that they had approved it (no other interaction had occurred). 3 weeks ago they finally released six figures of owed refunds accumulated since 2016; they had been holding back my refunds until the VDP had been approved and the relevant years reassessed. They did however waive penalties and interest related to my departure going! All that to say that the VDP is a massive, painful tool (and expensive—it cost us thousands to get our application package prepared and we were told ours was a simple case) that should not be used lightly.
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Jul 21, 2022 22:13
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Hi goons please don't laugh at me too hard, but I was hoping to ask you all if things like the housing market really cool off ever at all. I've got a mom with very modest savings. Her pension should keep her alive into her old old age, however she's really interested in the idea of house ownership and is scared of buying at a poor time. Market cooling off or rates increasing dramatically would be pretty devastating emotionally for her I feel, and then financially depending on how much we're talking about. I'm basically pro rent given she can use her savings for trips or unexpected medical issues. Right now it's looking like she'd be borrowing 3-5x her downpayment, and saving a couple hundred a month on rent. Toalpaz fucked around with this message at 22:46 on Jul 21, 2022 |
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Jul 21, 2022 22:43
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Right now the fear of raising interest rates is making buyers reluctant and putting downward pressure on housing prices, but the Bank of Canada is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024. This indicates that this reprieve from skyrocketing housing prices is only temporary, which might make now a good time to buy. But a lot can happen between now and 2024.
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Jul 21, 2022 23:00
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Subjunctive posted:I did a VDP submission in 2016 because I had messed up my exit event CRA paperwork when I moved to the US. A few months ago I got notice that they had approved it (no other interaction had occurred). 3 weeks ago they finally released six figures of owed refunds accumulated since 2016; they had been holding back my refunds until the VDP had been approved and the relevant years reassessed. They did however waive penalties and interest related to my departure going! Yeah, that's why for just $100, submit the adjustment, pay whatever interest, and then just relax. You could also then call CRA and say that it wasn't your fault and that it was delivered late, and the agent may be willing to waive the couple of bucks, but that part's up to you if it's worth your time or not. The interest and penalties are a couple of percent on the amount owed, and (assuming you're in the $45-90k bracket) the initial tax owed is around $30, so even 10% interest & penalties (which is being generous) will make it an additional $3. Though don't quote me on the actual penalties, as I really don't work directly with a lot of the actual penalties. We have a client we do an annual adjustment for because one of his US partnerships always sends information late, but we usually overestimate income for that reason. McGavin posted:Right now the fear of raising interest rates is making buyers reluctant and putting downward pressure on housing prices, but the Bank of Canada is projecting inflation to decline to about 3% by the end of 2023, and to return to the 2% target by the end of 2024. This indicates that this reprieve from skyrocketing housing prices is only temporary, which might make now a good time to buy. But a lot can happen between now and 2024. I'm debating putting some of my savings into a laddered GIC for this reason. I've maxed out my TFSA and I have additional cash I may need in the immediate future.
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Jul 22, 2022 16:17
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mojo1701a posted:Yeah, that's why for just $100, submit the adjustment, pay whatever interest, and then just relax. For my knowledge, why a GIC over another investment vehicle in an RRSP? GIC I thought were kinda an outlier in that you can't really access the money easily and the returns aren't great due to the guaranteed nature. Seems a lot like t-bonds or whatever which is difficult to understand as an investment choice for a person who likely isn't looking to rotate into fixed income to prepare for retirement.
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Jul 22, 2022 16:30
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VelociBacon posted:For my knowledge, why a GIC over another investment vehicle in an RRSP? GIC I thought were kinda an outlier in that you can't really access the money easily and the returns aren't great due to the guaranteed nature. Seems a lot like t-bonds or whatever which is difficult to understand as an investment choice for a person who likely isn't looking to rotate into fixed income to prepare for retirement. It was just a place to store extra money in the near-term. I could put it into additional funds instead, but then I'd have to deal with market volatility. That said, the BMO bond fund I have money in pays dividends of around 3-3.5% per year, and I can sell that at any time. I'm looking to just store some funds for an eventual possible plastic surgery . Not that I've looked much into it (though I assume that skin removal is much more intensive and expensive than a sebaceous cyst I had removed for $500 a few years ago), but it's more of a set-it-and-forget-it fund that I know will earn a better return than any savings account. It's just me thinking out loud at this point (and possibly affected by the booster I got two days ago).
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Jul 22, 2022 17:29
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McGavin posted:This indicates that this reprieve from skyrocketing housing prices is only temporary Unlikely unless incomes grow much faster than inflation all of a sudden. But guessing either way is trying to time the market.
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Jul 22, 2022 17:49
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lol if u still think income has anything to do with housing prices in Canada after the last 30 years.
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Jul 22, 2022 18:01
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McGavin posted:lol if u still think income has anything to do with housing prices in Canada after the last 30 years. If you think we were in bubble territory at any point between 20 and 30 years ago, you should probably take your first look at the relevant data. And if you think house prices can grow faster than income forever, please explain a non-imaginary mechanism by which that's possible.
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Jul 22, 2022 20:33
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“Forever” is uninteresting to reason about, and conveniently unprovable. The link between local income of various cohorts and residential real estate can remain strained for a long time, because money exists that isn’t from local individual current incomes. I bought my house with money that didn’t come from a Canadian income, for example. Subjunctive fucked around with this message at 20:51 on Jul 22, 2022 |
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Jul 22, 2022 20:48
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Subjunctive posted:“Forever” is uninteresting to reason about, and conveniently unprovable. Fine, then substitute "indefinitely" for "forever" if you'd prefer. Subjunctive posted:The link between local income of various cohorts and residential real estate can remain strained for a long time, because money exists that isn’t from local individual current incomes. Nearly all of the money going into the Toronto housing market is from locals, and always has been. The fact that the current marginal buyer is an idiot borrowing far more than they can afford in order to keep up with the Joneses does not mean that that's who'll be buying the houses in an environment where you can no longer borrow unprecedentedly huge amounts of money at historically low interest rates.
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Jul 22, 2022 21:04
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mojo1701a posted:Yeah, that's why for just $100, submit the adjustment, pay whatever interest, and then just relax. Agreed. Submit the amendment and pay. The agent won’t have authority to waive the interest or penalties. You’d have to request under taxpayer fairness. It’s also not worth it. It’s $100. Either it gets caught under the automated matching system or it will probably never get looked at. They aren’t paying people to track down $30 in tax and people miss slips all the drat time (they even reduced the penalty on this recently because it was so common and the penalty so severe).
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Jul 26, 2022 15:44
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Yeah, this. CRA doesn't care. It's a 100 dollar error. They'll chalk it up to, you know, you forgot that slip, it got lost in the mail, whatever. The T slips get submitted to them, too. Either they already figured out that the error doesn't affect anything, or they'll just wind up fixing it for you at some point. If you submit a correction, they'll process it and let you know if somebody owes something money. I spent ten years not putting my first time home owner's repayments on my taxes, because I noticed they just edited it in for me and let me know they'd done it. CRA gets that sometimes you lose the paper slip that they had electronically submitted to they by your bank. They don't care. It's not worth their time to worry about a 100 dollar mistype on a tax form.
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Jul 26, 2022 16:14
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I used to work in the matching department at CRA (basically making sure that all your T slips are claimed as income on your return). The automated system will flag your return for review if they estimate the amount owing would be $40 or more. If it's flagged, someone will review it and if they think you should have claimed the slip, they'll probably call you or send something in the mail about it. If you haven't made an amendment to your return before that point, and they determine that you should have claimed the income, they'll adjust the return for you and send a bill for the difference (if any). If it's your first time missing something, there's generally no penalty, but if it happens again, they'll add an extra charge (I don't remember how much, but I think it was a % based on how much the difference was).
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Jul 27, 2022 15:05
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Someone at the bank once recommended I split up some savings into multiple accounts so that the T slips would be all less than $50 so I could avoid paying taxes on them. I did not do that.
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Jul 27, 2022 16:26
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 Is there some way around this in GenuTax? I looked at the forms and it's 4 cents in that box and I don't see a way to edit it manually. I really do not want to have to file by paper over 4 loving cents. e: I guess it probably doesn't matter a ton since there's other pre 2017 back taxes I'll be stuck filing by paper. If I've filled out all the stuff up to the netfile point, can I start on filling my 2018 return? I've probably already messed things up a bit by doing my 2021 a few months ago, then filing my 2020 taxes before the 2017 one....? GenuTax basically suggested going from 2017 forward but I misunderstood cause I didn't realize what the earliest year I could file with NetFile so I started working backwards... Oxyclean fucked around with this message at 22:00 on Aug 1, 2022 |
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Aug 1, 2022 21:22
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Hi all - did anyone notice a significant drop (up to 13%) in their investment portfolioes total between january and april 2022? We recently received our reports on our investments with investors group (yes I know - ick -hoping this will be the leverage I need to convince my partner on this thread"s advice) and I am curious if anyone else noticed similar dips, such as those with XGRO.
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Aug 15, 2022 19:33
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Guigui posted:Hi all - did anyone notice a significant drop (up to 13%) in their investment portfolioes total between january and april 2022? Well yeah the market indexes dropped and the index tracking ETFs of course will also drop. It's not a fault of the investment vehicle, everything just went down. Might be slightly different with CAD hedging or not but that's just another variable to have sentiment about. Whether or not a portfolio performed better than xgro in a specific timeframe doesn't really tell the whole story of whether or not that product is right for you or not. VelociBacon fucked around with this message at 19:53 on Aug 15, 2022 |
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Aug 15, 2022 19:51
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I'm down around 9.5% YTD and I invest in global equities with around 6mo of expenses in bonds.
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Aug 15, 2022 20:22
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Guigui posted:Hi all - did anyone notice a significant drop (up to 13%) in their investment portfolioes total between january and april 2022? Yes, and I've been trying to buy as much as I can during this time.
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Aug 15, 2022 20:39
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And to be clear, this is completely normal from time to time in an efficient stock market. My guess is that this might be the first time you and/or your partner has gone through a large draw-down in your portfolio? If that's the case then you have two options; 1) Stick with the strategy you both made during calmer times. Remember that you picked this strategy for a reason, it was because you believed you could stick with it during bad times as well as good, now might be a good time to listen to the version of yourself however long ago that made those decisions. Otherwise you can; 2) Re-adjust your portfolio to be more conservative. If the current downturn is too emotionally unsettling for you, then you should think about whether the risk you were taking initially was too high. This is a perfectly fine decision to make also even if you're selling at a loss, but think very carefully about it. If you do change strategy, make sure that whatever strategy you go with, you stick with for good this time. Otherwise you'll get stuck in the typical spiral of selling low and buying high. If both of these sound a bit scary, it might be time to consider actually paying a fee-only financial advisor to manage your portfolio. Having someone who is actually a professional that you are paying and can explain things to you and your partner is a great way to give not only yourself piece of mind, but others who are thinking twice about the unprofessional financial advise you are giving them. That's why I don't manage any of my family's portfolios, I don't want to get blamed for losing their money in a completely normal downturn that you already explained to them could happen.
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Aug 15, 2022 20:45
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Had a client call up and ask questions about TFSA contribution room because he wanted "out of the market until things cool down". I thought it was a bad idea given that you're recognizing losses under the expectation that there will be further losses, but it's not my job to offer that kind of advice. He was surprised when I told him he should call his bank or broker to transfer cash within each other to get around having to pull the January 1 contribution room reset.qhat posted:I'm down around 9.5% YTD and I invest in global equities with around 6mo of expenses in bonds. Same. My RRSP has only finally broken even with the contributions I made in the past year (that is, I only opened it a year ago and it's back to the cash value I put in). I'm ~12% down overall on my bond funds, but I put money into those for the explicit purpose of higher regular dividends beating whatever miniscule interest my bank paid. BMO aggregate bond fund pays 3.25-3.5% p.a. in dividends. Is there any bank paying anything remotely decent? Simplii's occasional 3% on new deposits every so often is OK.
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Aug 16, 2022 15:48
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I sold my house in April, and moved in with my partner, so I didn't have to just drop the proceeds on a new house. So I stuck them in an RRSP. Which then proceeded to drop like a rock. As of about yesterday, it's back up to where it started. My xgro and vgro portfolio dropped a few percent, so I took the opportunity to buy a bunch more.
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Aug 16, 2022 18:25
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I should really put some money in before things recover too much, I just feel lazy about pulling out the spreadsheets to figure out amounts…mojo1701a posted:He was surprised when I told him he should call his bank or broker to transfer cash within each other to get around having to pull the January 1 contribution room reset. I think a lot of people don’t understand that “money in an RRSP/TFSA” != “investment” - like literally do not realize you can hold cash in these types of accounts.
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Aug 16, 2022 21:21
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kaom posted:I think a lot of people don’t understand that “money in an RRSP/TFSA” != “investment” - like literally do not realize you can hold cash in these types of accounts. In my experience, most that do focus on the "savings account" part because that's what banks advertise ("Make 2.5% tax free!"). What's interesting to me is how many clients don't use it at all. And I don't mean the average person that's living paycheque to paycheque who can't afford it, but ones that make a lot more money than I do. I know a number of them hold non-registered securities and end up paying tax if they decide to do a massive sell-off (I don't think they meet the threshold for day-trading). Still, that might be on my boss. He focuses more on the big-picture tax planning aspect than giving actual investing advice but that's because we're not investment advisors.
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Aug 18, 2022 03:15
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mojo1701a posted:Had a client call up and ask questions about TFSA contribution room because he wanted "out of the market until things cool down". I thought it was a bad idea given that you're recognizing losses under the expectation that there will be further losses, but it's not my job to offer that kind of advice. He was surprised when I told him he should call his bank or broker to transfer cash within each other to get around having to pull the January 1 contribution room reset. 1 month t-bills are 2.5% right now I think. Not as high but also won't drop 12% on you. I feel like bond etfs are closer to equities right now than a savings account with interest rates swinging around kind of unpredictably.
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Aug 18, 2022 16:31
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Postess with the Mostest posted:1 month t-bills are 2.5% right now I think. Not as high but also won't drop 12% on you. I feel like bond etfs are closer to equities right now than a savings account with interest rates swinging around kind of unpredictably. I mean, I put the money into those funds to balance out the equities when I was setting up the fund a few years ago before interest rates went up. I have additional cash I'm looking to sock away from a possible car purchase maybe within a year, so I may open up a non-registered account for that. Is it worth it to do with Questrade? It's either that or I just straight-up put it into my RRSP and then rely on the LoC that Simplii just approved me for (figure it can't hurt to have access to prime + 2% unsecured).
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Aug 18, 2022 17:08
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mojo1701a posted:I mean, I put the money into those funds to balance out the equities when I was setting up the fund a few years ago before interest rates went up. I use rbc direct invest because it's been setup for a while but I've heard Questrade is great, no commissions. Very easy to buy fixed income type things in both I believe. No idea if it's worth it. You could open the non-registered now, t-bill to feb, then rrsp the sum plus interest minus tax, get the free rrsp return money and loc the difference or not use loc at all depending what prime is then. The bummer with bonds in non-registered is you pay full income tax on the interest unlike cap gains or dividends.
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Aug 18, 2022 17:40
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Logged into questrade today and noticed they also are doing free level 1 streaming now, before it was delayed so that's a nice thing to have.
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Aug 18, 2022 18:08
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Postess with the Mostest posted:1 month t-bills are 2.5% right now I think. Not as high but also won't drop 12% on you. No, but if you're invested in USD and your home currency strengthens, you lose money that way.
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Aug 18, 2022 18:13
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Was talking about Canadian t-bills
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Aug 18, 2022 18:40
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Postess with the Mostest posted:I use rbc direct invest because it's been setup for a while but I've heard Questrade is great, no commissions. Very easy to buy fixed income type things in both I believe. No idea if it's worth it. You could open the non-registered now, t-bill to feb, then rrsp the sum plus interest minus tax, get the free rrsp return money and loc the difference or not use loc at all depending what prime is then. The bummer with bonds in non-registered is you pay full income tax on the interest unlike cap gains or dividends. I'm already set up with Questrade. I was just thinking I might do this anyway in case I do max out an RRSP and start saving up money past the annual limits in the future.
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Aug 18, 2022 19:22
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I probably haven't looked at my portfolio since probably early summer. I am pretty sure it's down, but I have it decently diversified and everything that can be is in a drip.
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Aug 20, 2022 16:36
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Ours is down, but house prices are down more. 
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Aug 20, 2022 16:45
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