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The S&P500 gapped down yesterday, but it actually closed higher than the day before. Absolutely sucks to miss out on the dip though. I have only ever used Questrade and I have never encountered something like you describe. But then again, I'm just manually moving money to it and purchasing XEQT at regular intervals until I fill out my registered accounts. If I had a larger or more complicated portfolio that included US listed funds I would probably prefer to go through a bank, adviser, or portfolio manager.
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Feb 25, 2022 16:43
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Risk tolerance has always seemed like an ice breaker for a sales talk in my opinion. What a coincidence that the lowest MER funds offered through my work RRSP plan were considered the riskiest and required the advisor to double check with me.
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Feb 25, 2022 16:50
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PoizenJam posted:The S&P500 gapped down yesterday, but it actually closed higher than the day before. Absolutely sucks to miss out on the dip though. That is good to know. They of course were not able to reactivate the purchase orders, in fact they cancelled them altogether so I had to recalculate my balance once off the phone with them (2 hours 10 minutes total). Had to go heavier on my CDN bonds and INTL stocks (which have tanked due to something or other going on somewhere in the world IDK) to get my preferred ratio back. Aw hell, given the anticipated increase in interest rates that's not a terrible thing. They had absolutely no reason they could give why this had to be an in person discussion (although the answer is of course giving them an opportunity to try to sell me something--in this case a Trust account!  ). After answering their questions they said "given your tolerance we think that you are best suited to a growth fund" yeah no poo poo. Nothing has changed, and I have an online account expressly so I don't have to deal with people.What a waste of time and money. Very angry with them.
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Feb 25, 2022 17:41
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Bilirubin posted:That is good to know. QT covers the cost of bringing your accounts to them.
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Feb 25, 2022 20:16
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That's even better to know. Thanks thread!
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Feb 25, 2022 23:39
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Thanks for the replies on the tax software
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Feb 26, 2022 01:29
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Bilirubin posted:Madness  Get your investments the hell out of there. If you go with Questrade, you also get a complementary Elite subscription to Passiv, a very clever service that will make balancing your portfolio an easy one-click operation, if the one-stop-shop asset allocation EFTs aren’t your thing.
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Feb 26, 2022 02:21
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Nofeed posted:
I was just reading about these on Canadian Couch Potato. They are new since the last time I moved my investment account and thought about it in any detail (I am very set and forget with this account, aside from automatic monthly deposits and an annual rebalance). Seems things have progressed over the past few years. (e. also I am glad that you seem to agree I'm not reacting completely irrationally about this situation) Bilirubin fucked around with this message at 02:44 on Feb 26, 2022 |
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Feb 26, 2022 02:41
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As a person on the internet with an opinion, which therefore qualifies me as an expert in this area, you sound like the ideal “buy xeqt/xgro/xetc on an internet discount brokerage” kinda investor.
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Feb 26, 2022 02:52
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Bilirubin posted:(e. also I am glad that you seem to agree I'm not reacting completely irrationally about this situation) Nah I would be pissed too, that's some bullshit. I saw the phrase "malicious compliance" the other day and it's exactly the vibe I get from the investment industry. Just remember that they'll all disappoint you eventually, and that your loyalty will not be rewarded.
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Feb 26, 2022 03:25
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Yeah, I would 100% be moving my accounts away from TD if that happened to me.
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Feb 26, 2022 05:41
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Yeah that’s 100% bullshit. Flee.
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Feb 26, 2022 05:41
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Nofeed posted:As a person on the internet with an opinion, which therefore qualifies me as an expert in this area, you sound like the ideal “buy xeqt/xgro/xetc on an internet discount brokerage” kinda investor. I suppose I could be more active but, yeah. Exactly this. I suppose the difference between Vanguard and iShares ETFs are negligible?
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Feb 26, 2022 17:21
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Bilirubin posted:I suppose I could be more active but, yeah. Exactly this. They have some almost certainly irrelevant differences in fees (couple basis points difference) and allocation (e.g. what bucket Korea falls in, how much USA to hold, global vs. only-Canada bonds).
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Feb 26, 2022 19:09
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what kind of documentation do i need for a capital loss that isn't offsetting a capital gain in the same year? i know i need to fill out a schedule 3, but what supporting documents do i need from my brokerage?
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Feb 27, 2022 19:36
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the talent deficit posted:what kind of documentation do i need for a capital loss that isn't offsetting a capital gain in the same year? i know i need to fill out a schedule 3, but what supporting documents do i need from my brokerage? Is it associated with a business? Is this in a registered account?
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Feb 27, 2022 21:50
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VelociBacon posted:Is it associated with a business? Is this in a registered account? i (separately) bought options that ended up expiring out of the money and received a stock grant from my employer that went down a non trivial amount before i was free to sell. neither of these happened in registered accounts. the options were purchased in a non registered account on qtrade and the stock from my employer was handled via schwab i have no capital gains in 2021 to offset but i understand i can carry these losses forward indefinitely as long as i report them on a schedule 3. neither qtrade or schwab has provided any tax documents for the transactions so i'm assuming i need to provide something else. possibly transactions? i'm mostly wondering what the cra expects in this regard
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Feb 28, 2022 02:09
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the talent deficit posted:i (separately) bought options that ended up expiring out of the money and received a stock grant from my employer that went down a non trivial amount before i was free to sell. neither of these happened in registered accounts. the options were purchased in a non registered account on qtrade and the stock from my employer was handled via schwab I haven't submitted anything from a brokerage when I had capital losses, I just put it on Schedule 3 (and yep you gotta report it the year you incur the loss, then it carries forward). I assume CRA can ask for documentation afterwards, but I don't remember supplying anything up front. Remember too you can carry back a capital loss up to three years to offset capital gains in a prior tax year. In addition to the usual caveats that I'm not an expert and that a lack of consequences doesn't imply correctness, the amounts were relatively piddly and could easily escape notice if I did a wrong.
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Feb 28, 2022 02:27
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the talent deficit posted:i (separately) bought options that ended up expiring out of the money and received a stock grant from my employer that went down a non trivial amount before i was free to sell. neither of these happened in registered accounts. the options were purchased in a non registered account on qtrade and the stock from my employer was handled via schwab Take what I say with a grain of salt, since I'm not yet a CPA nor am I a higher-up in a firm, but: The claim support for a loss claimed on Schedule 3 should be the same as a capital gain. They won't ask for it specifically, but you should have something in your files should they ask for it (though unless it's an extraordinary amount, they probably won't). At least, we've never had to submit any additional documents for clients of ours. We just hold on to either an annual gain/loss or transaction reports from their brokers. If it's just the one transaction, a T5008 that lists both the proceeds and ACB should also be an option (warning: T5008's Statement of Securities Transactions doesn't always list the ACB, as that's technically your responsibility).
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Feb 28, 2022 18:47
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mojo1701a posted:Take what I say with a grain of salt, since I'm not yet a CPA nor am I a higher-up in a firm, but: this is very helpful, thankyou. my total claim is low five figures and i have supporting statements i used to arrive at the figure. i'll just hold onto those and make notes on how i arrived at the value in case of audit
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Mar 1, 2022 00:15
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Quick tax question for contractors, my wife is working a consultant and is reporting all self-employed income for 2022. If I get her a new laptop for her birthday would she be able to claim that on her taxes as an expense if she was buying it?
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Mar 1, 2022 21:19
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Okay, just because it's your birthday, I'm letting you buy yourself a laptop. But you better get the tax receipt! I love you Honey.
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Mar 2, 2022 06:53
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DariusLikewise posted:Quick tax question for contractors, my wife is working a consultant and is reporting all self-employed income for 2022. If I get her a new laptop for her birthday would she be able to claim that on her taxes as an expense if she was buying it? I don't see why not. As long as you'll have a receipt and claim legitimate expenses (or asset for CCA purposes), they don't care who paid for it. Technically, there are specific rules wrt. gifts from non-arm's length parties, and buying a laptop yourself and gifting it to your wife would assume that you received proceeds equal to its fair market value for tax purposes (which is easily established as it's a new laptop with a receipt), and your wife would now have acquired that laptop at the same value. But these rules are like, if you transfer shares or large assets you own to your family where you would otherwise pay tax on selling or disposing. A laptop is probably such small potatoes that they won't care who bought it as long as you can reasonably say it's for business purposes.
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Mar 2, 2022 17:01
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I've been with both BMO and Scotia at various times in my life. At both banks I had accounts where the plan fee would be waived if I maintained the 'minimum monthly balance (indicated by the plan) at all times ' in the primary account. I have never quite understood the interpretation of at all times in this case. Does my balance simply need to be above the minimum at the end of my monthly period? I have certainly dipped under the minimum balance before (for less than a day) and received the plan refund regardless. Would I not have received the refund if I ended a day below this balance?
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Mar 3, 2022 00:00
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PoizenJam posted:Would I not have received the refund if I ended a day below this balance? Correct
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Mar 3, 2022 00:50
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I am a little confused on how to properly report my income on my tax return. The entire year I worked remotely for the same foreign employer, but I emigrated about a third through the year. Fully emigrated, no ties to Canada. As far as I can tell, I'm only supposed to report income for the portion of the year I lived in Canada, but then I'm taxed as though I earned a poverty wage (ie. under 10%) Surely that can't be right? But if I enter my whole year income then I'm taxed at an absurdly high rate -- as it seems the credits are prorated to my departure date, but the income isn't. Maybe the software I'm using is getting it wrong? 
fisting by many fucked around with this message at 15:03 on Mar 15, 2022 |
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Mar 15, 2022 14:45
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I’d suggest having your taxes done professionally this year.
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Mar 15, 2022 19:01
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Yeah, agree^ Cibc now has the online portal open for the Costco mc. Applied and within 30 sec was approved for their "world" variant (whatever that is). Looking forward to it, has 3% cash back on Costco fuel too. slidebite fucked around with this message at 00:13 on Mar 16, 2022 |
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Mar 16, 2022 00:06
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Thirded. A professional is a small price to pay for this instance to make sure it's right, and can also give you advice and make sure you're not missing out on certain things (such as cross-border treaty exemptions, things like that).. I'd offer some advice, but I've never done the actual returns (just a small unit in the CPA taxation module a few months ago) so I wouldn't feel right giving advice on how it actually works. slidebite posted:Yeah, agree^ Yeah, I registered through CIBC for my Costco MC a week ago and was pleased on the 3% Costco fuel cashback. Between the discounted gas and extra 1% I think it'll be worth going a bit out of my way once every two weeks to tank up in Ancaster.
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Mar 18, 2022 20:22
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Yeah, I also recommend a professional. When I returned to Canada I did it wrong (lol) and the CRA person doing my taxes just fixed it for me, but it was over a small enough amount since I was like 22 and not making much that it didn't really matter.
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Mar 18, 2022 20:27
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slidebite posted:Yeah, agree^ If you use Chevron you can link the Costco MC to a Journie rewards account and get 3c/litre off and free snacks, too. They've lost the free rental car insurance that the capital one card had, which sucks
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Mar 18, 2022 20:34
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I donated to a political party for the first time last year. They sent me a plain email right after confirming the amount, but I still haven’t received a more formal-looking tax receipt. Should I expect to? This is easy enough to track, but I typically make a lot of donations throughout the year so I’m always careful about collecting the receipts just in case I need them later. I don’t want to be chasing down charities for paperwork if the CRA comes knocking.
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Mar 21, 2022 01:15
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kaom posted:I donated to a political party for the first time last year. They sent me a plain email right after confirming the amount, but I still haven’t received a more formal-looking tax receipt. Should I expect to? My friend I am considering running for office and starting a charitable business and running a food clinic (?) Do you need my PayPal or is Venmo ok or how do we do this? I'm also going to start researching about Disease.
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Mar 21, 2022 02:19
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lmao pretty much got it in one. Add some crisis counselling services, access to the outdoors for disabled children, early education supports, and we might have it covered!
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Mar 21, 2022 02:38
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https://www.bnnbloomberg.ca/anticipated-rate-hikes-could-topple-housing-market-capital-economics-1.1741797
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Mar 24, 2022 13:53
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Outrail posted:https://www.bnnbloomberg.ca/anticipated-rate-hikes-could-topple-housing-market-capital-economics-1.1741797 So QuestTrade is heavily pushing their new lower-rate (sub-prime?) mortgages, just as housing is poised in the edge of a cliff. Is anyone else invested with QuestTrade, uh, worried?
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Mar 28, 2022 02:42
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Square Peg posted:So QuestTrade is heavily pushing their new lower-rate (sub-prime?) mortgages, just as housing is poised in the edge of a cliff. Is anyone else invested with QuestTrade, uh, worried? The CIPF exists, so no, not really.
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Mar 28, 2022 02:57
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Square Peg posted:So QuestTrade is heavily pushing their new lower-rate (sub-prime?) mortgages, just as housing is poised in the edge of a cliff. Is anyone else invested with QuestTrade, uh, worried? There's an upper limit defined by regulatory bodies to how nervous or excited I'd really get about any of this stuff. I just got a 2.74 fixed rate 5 yr mortgage and I'm a QT investor so I hope I didn't gently caress up by not getting a quote from them. The wording here may be confusing me but isn't every single person getting a rate that's below prime? Like if you have your life together enough that you even have a downpayment, aren't you going to be offered a rate below prime?
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Mar 28, 2022 03:43
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tagesschau posted:The CIPF exists, so no, not really. This. Plus protection will only be triggered if the brokerage no longer has the securities to transfer to another brokerage or records are bad/incomplete. Generally either of these outcomes are very unlikely unless there is massive fraud going on at the brokerage. There are also limits, I think it’s 1 million but I’m not sure, often brokerages get private insurance on top of the basic CIPF so they can keep higher value clients.
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Mar 28, 2022 04:06
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VelociBacon posted:There's an upper limit defined by regulatory bodies to how nervous or excited I'd really get about any of this stuff. I just got a 2.74 fixed rate 5 yr mortgage and I'm a QT investor so I hope I didn't gently caress up by not getting a quote from them. The rate might be below prime but the actual housing prices are just hosed. Like yeah give me a great rate on a mortgage for a 1m house that was less than half that five years ago but I still can't afford it and even if I do put myself into life crippling debt there's a decent chance the market will finally tank and then I'm spending the next ten years working off 1m debt worth gently caress all. I'm going to keep renting for the next year or two and continue praying the market tanks and a lot of greedy people are forced to sell their investment properties.
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Mar 28, 2022 05:10
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