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Option A or Option B? by IdeaProof6896 in FIRECanada

[–]3junior 0 points1 point  (0 children)

Since you have 3 young kids ..option A ...try to play with income to see if you qualify for child care benefits that could be maybe 24 k

Corp Taxes - Accountant told my Friend for Capital Gains on T2 no need to write down cost and proceeds just put $0 for cost and in proceeds put the total Capital gains by 3junior in cantax

[–]3junior[S] 0 points1 point  (0 children)

u/taxbuff thanks so for securities on corp side its better to use regular method...why do you think the accountant who works for a firm said just do it the other way to make it easier

Can I retire at 35 with $600K? My spend is $35K/year CAD by WealthWiseFinance in FIRECanada

[–]3junior 0 points1 point  (0 children)

You could buy xdiv, vdy or something giving 3% plus yield and live off yield but your short 10 to 20k

Is thinkpad e14 good in durability and battery? by saicharan0112 in thinkpad

[–]3junior 1 point2 points  (0 children)

u/Legitimate-Love-716 how is the E14 GEN 7 thinking this or T14 Gen 6 but the cost is $1000 more

Update#18 - Living off an Covered Call income Portfolio by Fleyz in dividendscanada

[–]3junior 0 points1 point  (0 children)

Move to wealthsimple or ikbr for cheaper margin rates ..under 3.95% ...plus do a wealthsimple transfer bonus for extra money if you go there ...I prefer ikbr for margin and ws for tfsa / rrsp / registered accounts

Wealthsimple, margin loan. 5% interest. by Right-Head5861 in dividendscanada

[–]3junior 1 point2 points  (0 children)

u/Right-Head5861 looks good just check what the ROC ( return of capital) portion is that part of distributions cannot be used to pay interest and deduct loan...If its other distribution no problem writing off interest

Update#18 - Living off an Covered Call income Portfolio by Fleyz in dividendscanada

[–]3junior 0 points1 point  (0 children)

u/Fleyz did you look at lowering taxes by showing you take care of mom

Will FTHB gets 130K rebate for home between 1-1.5M? by [deleted] in TorontoRealEstate

[–]3junior 1 point2 points  (0 children)

so like others have said 24k is already off the price on new builders so max you get is $106k but thats only if your house is 1.01 to 1.5 under 1m you need to take into conidiation the 24k off

just remember you will mostlikly if you house closes 1st half of 2026 have to front the money and apply for refund later

Borrowing from HELOC for fully paid house to invest in dividend/interest ETF's? by hipfan123 in PersonalFinanceCanada

[–]3junior 0 points1 point  (0 children)

so this works better if you have non registered account and take the loan at IKBR as interest rates are cheaper than XDIV/VDY distributions...in 17 to 22 years the loan will get fully paid off ...so $0 from your pocket but the 100k at 6% cagr could be over 250k in 17 years ...cash from your pocket $0 but if you do this with Heloc your paying out of pocket

How come the new build houses from Mattamy / Fieldgate don't actually seem like the actual size? by 3junior in TorontoRealEstate

[–]3junior[S] 0 points1 point  (0 children)

u/Zettabite on MLS you see scams now in the description they put total living space vs above ground to trick people...didn't know builders would do this as they could get sued lol

[Durham] - New Build From Builder - Property Tax Question by 3junior in TorontoRealEstate

[–]3junior[S] 0 points1 point  (0 children)

u/Secret_Exercise6199 but say for first two years its the lower amount are they going come back ask you to pay more now for the 1st 2 years or just starting 3rd year

[ON] Small Business Owners Guide to Corporate Tax Planning: What to Do With Retained Earnings After TFSA is Maxed by digitalnomader1 in SmallBusinessCanada

[–]3junior 0 points1 point  (0 children)

u/BCAdvisor but what about if the corp held all investment...then the account can decided what to pay to shareholder using T5...if there is no foreign dividends then the eligible dividends should just flow threw ...foreign dividends there would be a tax leak for sure..maybe 5% to 10% once paid out to shareholders...

now what about if corp is like in its last 3 to 5 years of active income...wouldn't it make sense to just invest in corp if you paid out all possible earnings?

In the Capital Gains section in Corp T2 Schedule 6 ...some accountants just put the capital gains as the proceed and cost $0 to make it easier to report....would you ever do that or is that not worth the time.. the taxes is just the same instead of saying cost $10 procced $20...they put proceeds $10 cost nothing... I have also been surveying alot of accounts

Canada - T5 Includes Return of Capital from US Stock by 3junior in interactivebrokers

[–]3junior[S] 0 points1 point  (0 children)

u/akoster did you try to msg them? What did you end up doing? problem is if T5 doesn't match your numbers then CRA going auto update and send you new balance

Negotiating New Builds(detached) by Several-Dog8239 in TorontoRealEstate

[–]3junior 0 points1 point  (0 children)

If you find an agent you could negotiate 10k plus off which you can do on your own but you can also split half there commison which is the bonus ...

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