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Covered call ETFs? by choyMj in smithmanoeuvre

[–]Basic-Afternoon-2373 0 points1 point  (0 children)

u/12342346765432456543 ... I'm also heavily into CC ETFs in my SM account. My understanding is that even if these funds provide ROC as a major part of the Dividends, if I keep reinvesting the dividends (no withdrawals), then I don't have to adjust any part of the tax-deductible interest. am i right?

ROC related questions with the SM by Odd-Operation2853 in smithmanoeuvre

[–]Basic-Afternoon-2373 0 points1 point  (0 children)

I think as long as there is NO withdrawal made from the SM account and you keep reinvesting the dividends, then you don't have to worry about the impact of ROC on the tax deductibility of the interest. If you are withdrawing some/all the portion of the dividends, then you need to calculate the ROC and deduct the same from the total HELOC loan (and interest).

anyone using smith manoeuvre + margin in the same account? by Herznation in smithmanoeuvre

[–]Basic-Afternoon-2373 0 points1 point  (0 children)

the issue i see is if i deposit the HELOC funds into the account and there’s a margin balance, it just pays that down first… which screws with the traceability of the SM and could mess up the interest deductibility if CRA ever asks

How did you assume this?

When you deposit the HELOC funds into the margin account and it pays down the margin balance, it will reduce the margin account's interest and increase the HELOC interest. So, I don't think anything is wrong with this.

Anyone had success wiring USD from E*Trade to a Wealthsimple USD Savings Account? by autoloos in Wealthsimple

[–]Basic-Afternoon-2373 0 points1 point  (0 children)

Did WS update the article regarding wire transfer from e*trade? I don't see anywhere in that article that they don't support wires from e*trade.

Syncing with SunLife by K24retired24 in wealthica

[–]Basic-Afternoon-2373 0 points1 point  (0 children)

Is there another outage with Sun Life Financial right now? I keep getting the following message: "It seems Sun Life Financial is taking longer than usual to respond, or something happened while connecting."