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I'm a Canadian living in the US (4+ years), and thinking about returning to Canada. I'd like to figure out what shape my credit is in after the time away, but I haven't figured out how to get a credit score as a non-resident. Both Equifax and TransUnion want CCs with Canadian billing addresses, as far as I can tell. Is there another avenue for this stuff?
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Apr 11, 2016 19:45
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Guest2553 posted:Did you have any active Canadian accounts? I am moving back to Canada after four years in the US and still have a decent beacon score. That said, I was in the US for work and had an open bank account I transferred money to sometimes. The mortgage broker on the phone running my credit said he could pull my US one and take it as equivalent if needed, so it sounds like that might be an option. Yeah, have semi-active chequing account (open, but only a few transactions/year bouncing money to relatives or such) and some investment accounts. My US score isn't great because I underuse credit, but it might be better than nothing. How did you find out your score? Do you have a Canadian billing address for a card? I could change the billing address for a card to be a Canadian friend's, I guess, but blech.
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Apr 12, 2016 03:22
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I don't suppose anyone knows of a good Excel formula/snippet for calculating Canadian income tax? I just want "total after tax for Ontario with personal exemption amounts", everything as simple income. It should work in Google Docs. I found one for 2009 but it's a big messy form, and I want a way to apply it to a bunch of places in a sheet. Basically the EY calculator for excel.
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Apr 15, 2016 14:42
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Mantle posted:Not what you asked for but would the simpletax.CA/calculator work for you? No, I have an existing spreadsheet that spits out "pre-tax income" in a bunch of places, and I want to add cells that show after-tax income.
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Apr 16, 2016 02:24
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Kal Torak posted:I'm not sure how complicated you want it to be, but this might help: I can work from that, I think; thanks!
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Apr 16, 2016 10:33
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Ultimate Shrek Fan posted:So the lovely Canadian Forces gave me my stupid loving pension money that I paid in back as a locked in rrsp. Is there any way I can use the stupid piece of poo poo awful locked in rrsp for the first time home buyers plan? No, but you might be able to transfer some of it to a regular RRSP as I understand it. E: depends on your province: http://www.taxtips.ca/pensions/rpp/unlockingrpp.htm
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Jun 18, 2016 19:44
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Ultimate Shrek Fan posted:There's only 8k in the locked in RRSP, so the fact that I cannot touch this until I am 65 really chaps my rear end. What province are you in?
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Jun 18, 2016 19:50
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Ultimate Shrek Fan posted:I do but I'm saving that for when I retire. I figured one 8-9k rrsp that I can't touch until I'm 65 wouldn't really matter. But thanks for being a douchebag, it really adds a lot! At 4% that's about $35K when you retire, or a year of retirement on the average Canadian retiree's budget. FWIW.
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Jun 22, 2016 19:39
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cowofwar posted:I'm assuming that he is trying to imply that RRSP allocation should be weighed towards income generating assets like dividend funds. Why?
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Jun 23, 2016 01:52
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That says the opposite: quote:All the tax-inefficient bonds are now safely in your RRSP, while the US stocks are in your non-registered account, where the foreign withholding taxes on dividends are recoverable and you can benefit from tax-loss harvesting. The only mention of dividends says to put outside the RRSP, no? But if we're tossing around links instead of writing explanations, I offer http://www.theglobeandmail.com/globe-investor/investment-ideas/beware-of-these-three-rrsp-myths/article9235153/?service=mobile
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Jun 23, 2016 03:29
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Baronjutter posted:People seem to think they're as rich as their net-worth and spend accordingly. To be fair, isn't "high net worth" a very common definition of "rich"?
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Jun 28, 2016 20:07
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cowofwar posted:Most people treat worth as income. Huh. If I asked "so what's he worth anyway" I would expect an answer like "$2M" not "$200K/year". Maybe a regional variation?
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Jun 29, 2016 04:26
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When I was in the US and made a large (for me!) donation to a Canadian charity, there was a foundation that would basically accept it as an eligible US donation (deductible) and then pay out 95% of it to the Canadian charity. It let me get a tax deduction for a donation across the border. Does anyone know of something that works the other way? To wit: a donation to a registered US charity, deductible against Canadian taxes? The charity is a college, if that matters.
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Jul 1, 2016 15:28
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They need to be registered in Canada, except that you can claim donations to US charities against US-sourced income (which I don't expect to have). http://www.cra-arc.gc.ca/E/pub/tg/p113/p113-e.html#P99_6372 has the details.
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Jul 2, 2016 00:44
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What tax issues would you encounter from holding Canadian funds?
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Jul 23, 2016 01:19
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Unless he's withdrawing from the RRSP there's no income anyway, and RRSPs don't require reporting under FBAR. Even outside of the RRSP context, proceeds earned from Canadian securities as a US resident just gets you a 1099-INT and it's trivial to include alongside US-sourced investment 1099s. I don't know of any US investment service that manages RRSP accounts though.
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Jul 23, 2016 04:34
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Lexicon posted:Is this true even in the context of securities held at a Canadian institution? Yes, I kept mine with a Canadian institution.
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Jul 25, 2016 02:17
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Time to go back to Toronto?
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Aug 25, 2016 12:37
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I should probably just ask an accountant, but: I bought an asset as a US resident. I will sell it at a capital loss as a Canadian resident, albeit in a year in which I spent the majority of my time in the US (but will be in Canada on Dec 31). Can I claim that against Canadian taxes? I don't have capital gains to offset in the US.
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Aug 25, 2016 20:30
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Lexicon posted:Holy poo poo - ask an accountant. You take all the fun out of taxes.
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Aug 25, 2016 21:50
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namaste faggots posted:Haven't you heard? The CRA doesn't care about foreign income plutocrats Can I quote you in my return?
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Aug 25, 2016 23:40
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Are you telling me to just misreport? Bold.
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Aug 26, 2016 00:40
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You're not selling it, you're trading N units of VCE for M units of something else. Which do you expect to be more valuable in 5 years?
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Oct 17, 2016 03:54
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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.
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Nov 25, 2016 15:43
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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.
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Nov 25, 2016 15:54
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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.
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Nov 25, 2016 16:08
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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.
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Nov 25, 2016 16:13
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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).
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Nov 25, 2016 17:06
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(along with other diversified investments)
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That's fantastic.
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Nov 25, 2016 22:23
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The market seems to be growing? What do people think of whole life insurance, for someone who is maxing their other tax-exempt options?
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Jan 17, 2017 22:55
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the talent deficit posted:whole life insurance can be useful for estate planning but as far as i know there's no way to gain a tax advantage from life insurance as an individual Yes, it would be for estate planning.
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Jan 18, 2017 03:52
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grack posted:Do not EVER buy Whole Life insurance as an investment vehicle. Thanks. I may have need for the insurance product, which is how I started looking at it in the first place. I guess there's no substitute for doing a bunch of math.
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Jan 20, 2017 09:59
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Mantle posted:If you rebalance more frequently, you're not giving your performing asset classes room to run. Wouldn't that argue for never rebalancing, or treating rebalancing as "timing the market"?
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Jan 24, 2017 02:03
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blah_blah posted:This should not be surprising, since the current price of a stock is more or less the net present expected value of the future dividends of a stock. That doesn't seem right, practically. Many stocks don't pay dividends, but still climb in price. Shouldn't GOOG be priced at $0, since there are no known plans for it to pay a dividend? Or does the NPEV in this case include some prediction that they will start to?
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Feb 6, 2017 12:28
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Lexicon posted:Correct. It's NPV of all future cash flows (some of which is probabilistic), not dividends. What other cash flows are expected from, e.g., GOOG?
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Feb 6, 2017 15:06
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Lexicon posted:The cash received from selling the stock itself down the line. Oh, of course!
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Feb 6, 2017 15:18
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cowofwar posted:Has she considered a chinese-canadian real estate ponzi scheme? They are pretty popular right now. The Chinese are very private about their finances, answering that question would go against their culture.
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Feb 9, 2017 02:47
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What are people doing for executors of their wills? It seems like a crappy thing to stick a friend or relative with, even though I don't anticipate any family conflict. My bank (RBC) offers an executor service, but 3% of the estate is pretty steep.
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Feb 10, 2017 22:23
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I strongly suspect it would be. I'll look into that, thank you.
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Feb 10, 2017 23:25
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| # ¿ Apr 30, 2024 08:12 |
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It's pretty simple. Took about 20 mins to do 5 accounts for me and my wife, 17 years ago.
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Feb 11, 2017 05:55
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