|
Speaking of pension, I have a decent chunk of money in my previous employer's pension fund. How do I get that out, call the benefit provider and ask them to transfer it as a LIRA? I'm pretty happy with the returns so far, so I have no problems leaving it there, if that's an option.
|
#
¿
Feb 24, 2014 03:37
|
|
|
|
| # ¿ May 16, 2024 11:04 |
|
|
Mine is, I think - it shows up as an additional benefit on my T4, but since it's RRSP it's not taxable income. (Well it's immediately offset by the equivalent RRSP contribution, I suppose). It's not a match, though, they're just straight up depositing 6% of my salary as an RRSP (On top of my actual salary, so it's a pretty sweet benefit... Nothing like a bottomless 40% match, though, holy gently caress.) Ended up maxing out for 2013; throwing 4.8k on top of what I'd already put in there last summer saved me about $1500 in taxes. First year of my working life I don't end up with a refund, too 
|
|
#
¿
Feb 25, 2014 22:38
|
|
|
Shazbot v2.0 posted:Can I ask a Canadian income tax question here? If so - read below please! Wait you don't get the monthly deduction if you're working? Even if you're studying part time?
|
|
#
¿
Mar 1, 2014 22:20
|
|
|
Kal Torak posted:Retiring at 40 means you would need sufficient funds for like 50 years. That's a lot of $$. Now you've done it. You've summoned the FI spergs.
|
|
#
¿
Mar 4, 2014 01:09
|
|
|
Here's a dumb TFSA question: I had ~13k in TFSA as of January 1st. I pulled ~2k out in February. Can I contribute up to 29k before the end of 2014, or do I have to wait until 2015 before I can deposit anything into my TFSA again?
|
|
#
¿
Mar 4, 2014 17:35
|
|
|
To phrase it simply; excluding returns on previous contributions, I can't end the year with more than 29k of TFSA if I understand correctly. (Yeah that's gonna happen)
|
|
#
¿
Mar 4, 2014 21:17
|
|
|
Just to revise the procedure to get a TD E-Series account going: 1. Open TD Waterhouse account, buy mutual funds 2. Go online and sign up for E-Series. 3. Convert to E-Series. Is this correct? It seems needlessly obfuscated.
|
|
#
¿
Mar 17, 2014 19:23
|
|
|
If I'm the most hands-off investor ever, who dumps poo poo in his mutual fund four times a year at best and can't be bothered to tweak stuff for maximum min/maxing gains, do I open a WH account or a regular one?
|
|
#
¿
Mar 17, 2014 20:15
|
|
|
tuyop posted:Why not just buy a bunch of CAD or USD money and deposit it in an offshore bank? I think scotiabank has an offshore division based in Turks and Caicos. Is that only available to the very wealthy? Offshore banks usually won't bother with anything under 100k, possibly more. You also might need lawyers and accountants and... I really wouldn't consider it an option for your average consumer. I'm gonna go with Lexicon, at this point it's cash under the mattress. Assuming they can get cash, I think I heard somewhere that banks were restricting cash withdrawals to prevent runs.
|
|
#
¿
Mar 18, 2014 13:16
|
|
|
Baronjutter posted:So you guys were right about Ukraine restricting money transfers out of the country. We found a way to get around it though. You can still do it but only between immediate family memebers and in limited amounts per day. So my mother in law is going to spend the next couple weeks going to the bank every day transfering money from my grandma to her then to my wife. A bank with a presence in Ukraine, or in Europe anyway, might make things somewhat easier. On the other hand, a brand new account suddenly receiving regular sums of money from the Ukraine wired through multiple banks might raise some red flags at the AML department, but if you can document the provenance of the money... Hopefully it wouldn't be much of a problem.
|
|
#
¿
Mar 28, 2014 21:41
|
|
|
Desjardins has saving accounts at 1.5% right now, all you have to do is sign up for it on their website. It's under the savings tab in the Acces D web services thing. They didn't just hike up the rates on regular saving accounts, just... Made new ones with a higher rate. RSRP and unregistered only.
|
|
#
¿
Apr 2, 2014 16:34
|
|
|
I don't know exactly how REITs work, but won't they take a massive dump when the housing bubble blows?
|
|
#
¿
Apr 4, 2014 18:40
|
|
|
melon cat posted:This isn't correct at all. One of the main reasons why publicly-traded companies have IPOs happen is to raise capital. I really don't see what you're reasoning is behind "Companies don't 'make' money when you buy shares", but it's not true at all. If the share changes hand 100 times after the IPO, it makes absolutely no difference in the company's cashflow. They get a big lump of cash at the IPO, after that the only reason to give a crap about the stock is because you have to keep the shareholders happy.
|
|
#
¿
Apr 8, 2014 16:25
|
|
|
Now do convertible bonds 
|
|
#
¿
Apr 8, 2014 16:33
|
|
|
Jolarix posted:I have a small and simple Couch Potato style portfolio with RBCDI. Quick question: You have 78 shares in the index at a value of $736 total, and no cash in that account. I'm not sure what you're asking?
|
|
#
¿
Apr 10, 2014 16:50
|
|
|
Guest2553 posted:Which, coming from a politician, is on the upper end of the bell curve. Can't really argue with that. It's a rare politician that looks at data and goes "Welp, I hosed that one up, better backtrack." See also: The F-35.
|
|
#
¿
Apr 11, 2014 23:54
|
|
|
Tax question,  I might be able to convince my boss to pay my part-time grad school tuition in lieu or on top of a raise. Maybe even get the office to buy most of my textbooks (It's basically Frozenvent's Job: The Degree, so those are books we could actually use at the office.) Tuition's roughly $2000 a year; I'm a part-time student for 9 months or so a year. If my marginal rate is 39%, am I better off paying my own way? My gut feeling is no, but I'm getting mixed responses from people I'm asking around here. Edit: If I'm reading things right Quebec slashed the tuition credits pretty hard last year. FrozenVent fucked around with this message at 02:05 on Apr 25, 2014 |
|
#
¿
Apr 25, 2014 01:54
|
|
|
Golluk posted:Given your tax rate, with the 8% tax credit, Your pre-tax cost would be about $2,620.00. On the other hand, given your tax rate, I'm going to hazard a guess that even a 3% raise would give you more money, carries on beyond your time in school, and won't possibly need to be renegotiated each term. Yeah if I can get money that's what I'm taking, but I have a feeling I'm more likely to get tuition reimbursement and I wanted to make sure I wouldn't be shooting myself in the foot financially. Gonna ask for 5%, tuition and another 5 days PTO, see what happens.
|
|
#
¿
Apr 25, 2014 17:04
|
|
|
Lexicon posted:I'm offended by the existence of TurboTax (it exists because they lobby for the status quo, as opposed to a more sensible scenario where the CRA does most computations for us), but as a software guy, this is a job for computers I've always argued. Too much error prone arithmetic. While I agree with the sentiment, have you used a government computer system recently? gently caress that poo poo.
|
|
#
¿
Apr 27, 2014 05:57
|
|
|
How old are you? That makes a difference in your TFSA contribution room. You can pull money out of your TFSA at any time without penalty; you just can't put the same money back in in the same fiscal year. Are you 100% sure you've got that job after graduation? If so, you can use a mix of chequing and TFSA to kill off the student loan. Chequing first. Then yes, go and get that 10% match, up to the maximum the employer will match, then top off your TFSA. (Basically until January 1 2015, assuming you never did anything with your TFSA before 2014, you can contribute (Your maximum contribution room) - (all your contribution ever); then in 2015 you can contribute (Your maximum contribution room) - (All your contributions ever) + (The amount you withdrew in 2014))
|
|
#
¿
Apr 27, 2014 21:50
|
|
|
Kalenn Istarion posted:You see, if CRA takes over the calculation, they lose the ability to charge you penalties when the calculation is wrong. The government also then incurs the cost of doing the calc, and needs to develop a customer service function to deal with all the people that call back that their return is wrong. This way it's on the taxpayer to get right and I think that's appropriate. I'd be surprised to find out CRA turns a profit on those penalties, honestly - they're expensive as gently caress to recover when you consider the cost of the investigation and the number of audits they do that don't turn up anything.
|
|
#
¿
Apr 28, 2014 00:15
|
|
|
What are the penalties going to be on $89?
|
|
#
¿
May 24, 2014 23:10
|
|
|
What's your current gross income / marginal tax rate, how old are you and do you expect your income will increase significantly? These are all rather important points to consider when you're thinking about RSRP.
|
|
#
¿
Jul 14, 2014 06:39
|
|
|
Get a good credit card, Desjardins' Visa Odyssey has pretty drat good coverage for like $140 a year. Also 1% sort of cash back.
|
|
#
¿
Sep 5, 2014 01:59
|
|
|
That reminds me, I have a significant sum of money in a pension fund of a previous employer (well it's managed by the union, but I'm not in that union anymore). It's getting a pretty good rate of return, but what do I do with it?
|
|
#
¿
Sep 6, 2014 23:04
|
|
|
I'm mostly concerned about the tax implications. Haven't seen a fee on the reports they've sent me so far. My RRSP are currently maxed out, is there some other way to pull it out? LIRA I guess? How does that work?
|
|
#
¿
Sep 6, 2014 23:16
|
|
|
TD Waterhouse waives the fees if you have more than 25k though. Does that have to be in the same account, or is that your total portfolio? Like if I have 20k in a LIRA and 20k in RSP, do I have to lay the hundred bucks a year?
|
|
#
¿
Sep 10, 2014 01:35
|
|
|
If TD is being finicky, are there any reasons it shouldn't just open a Questrade account? I'm fairly knowledgeable when it comes to investing, but I can't be arsed to min/max everything and spend hours managing my poo poo, hence why my original plan was to just stick everything in an e-series. Right now TD online seems broken for new accounts sign up. Although I just moved to a new city so I should probably just get a new bank account.
|
|
#
¿
Sep 11, 2014 01:13
|
|
|
tuyop posted:Well it's not really that difficult, but it may also be really finicky. Finicky refers to the bullshit about not opening the account you want in the first place, and not being able to do most of it online. There's a TD place next door to the office, I could go on my lunch break. At the same time, I've been with Desjardins since before I had a social insurance number so even though their insurance and investment products are poo poo, I don't know, I'm attached to them. Kick rear end credit cards and saving accounts (1.5%!), though.
|
|
#
¿
Sep 11, 2014 01:32
|
|
|
If they have a surplus they might do a payout but yeah that's pretty much it.
|
|
#
¿
Nov 3, 2014 23:00
|
|
|
Prime +1.5% is peanuts, I'd take that over loving about RRSP. Speaking of RRSPs, can one start a RESP for someone else's kid, or does it have to be started by the parents of the beneficiary? The CRA site is not too clear. The Canada Education Saving Grant seems like it'd go a long way to making it worth it, especially for a kid who'll likely study in Quebec. (Quebec also throws in an extra 10% match) Edit: Christ, there's no loving way you get a 30%+ match just for throwing money in a saving account, there's got to be a catch I'm not seeing. FrozenVent fucked around with this message at 22:45 on Dec 10, 2014 |
|
#
¿
Dec 10, 2014 21:09
|
|
|
Whiteycar posted:I am one of the lucky ones and am currently in a Defined Benefit pension plan. What kind of debts are we talking about and how sure are you that pension is still going to be around when you retire? In completely unrelated news, have you ever heard of White Birch Papers or US Steel?
|
|
#
¿
Feb 5, 2015 04:58
|
|
|
Went to TD and started the process to transfer my old pension and RSP. Dude knew about E-series, but, and I quote, "those don't make any money". Didn't feel like getting into it, will do the switch paperwork once the transfer has gone through.
|
|
#
¿
Mar 27, 2015 03:16
|
|
|
I use Desjardins for my daily banking and just switched my investment to TD. TD sent me all the paperwork in English after I specifically told them to do that (advisor wasn't verified old at French so we talked English the whole time) so I'm a little peeved at them right now.
|
|
#
¿
Apr 9, 2015 01:08
|
|
|
Got my refund yesterday  Debt free!
|
|
#
¿
Apr 29, 2015 00:12
|
|
|
I got $600 from the Feds but owed Quebec $900. Woo.
|
|
#
¿
May 6, 2015 05:35
|
|
|
You might have to wait for a while for your employer contribution to vest. I just went through this with my old employer and it's a fairly straightforward process. Lots of paperwork but hey.
|
|
#
¿
Jun 15, 2015 22:52
|
|
|
|
| # ¿ May 16, 2024 11:04 |
|
|
Seventy percent equity on a six year horizon?
|
|
#
¿
Jun 18, 2015 12:19
|
|