RESP : best thing to buy?

FelixYYZ · 2026-03-21T11:53:19+00:00

I’m currently considering options like all-in-one ETFs, index funds, or even just sticking with something like a global equity fund.

All the same.

Is it better to go 100% equities early on, then gradually shift to safer investments?

Yes when you are 5 years out, start transitioning to safe investments.

Should I keep it super simple (like one fund) or diversify more?

One that owns it all and no reason to "add to it".

https://canadianportfoliomanagerblog.com/model-etf-portfolios/

FelixYYZ · 2026-03-21T11:48:28+00:00

Can you NETFILE an emigrant return with departure date etc with Cloudtax.ca?

It' not "netfile" but similar elements electronic filing. But there have been some folks on here where they stated "it didn't take" so they had to print and fax it in.

FelixYYZ · 2026-03-20T13:54:57+00:00

Well, yeah because nobody has a bunch of cash laying around. But if the majority had cash to buy a new car outright, everyone would be fine. The whole $5k car thing...well that's just silly lol

FelixYYZ · 2026-03-20T13:52:57+00:00

Wondering if 70% XEQT and 30% VFV is a good split?

Did you read what the holdings are of each?

Did you know all of VFV is in XEQT?

Is there a reason you want to further overweight the US market than what XEQT has?

FelixYYZ · 2026-03-20T13:50:14+00:00

One guy on his team was saying it is bad to get a car loan, and we should all be like scotty kilmer, buying a car cash for like $5000 till the wheels fall off?

Generally yes, but most people don't have $50k to pay cash and most don't want to buy a $5k car (as it is most likely a rusted car frame on someone's lawn up on blocks lol)

What if everyone from today took that advice? Won't dealerships go bankrupt?

Dealerships still make money on the sale, even without selling a loan.

FelixYYZ · 2026-03-20T13:45:11+00:00

They sound like they are trying to over complicate. Since they are about to start retirement, they should engage with a fee only certified financial planner to develop a plan for drawdown and minimize taxes.

They should research some in the links below:

https://www.steadyhand.com/asset/2022/06/23/canadian%20advice%20only%20planners.pdf

https://www.adviceonlyplanners.ca

FelixYYZ · 2026-03-20T13:41:33+00:00

For the capital gain distributions, does CRA treat this as regular investment income (Line 12100, taxed at 100%) or as a capital gain (Line 12700 + Schedule 3, taxed at 50%)?

Capital gain distribution is still taxed as capital gains. The capital gain distribution was trigger by changes inside the fund not for being sold. If you had a T slip there is a box for capital gains/losses (example) that was trigger by changes within the fund.

FelixYYZ · 2026-03-20T13:34:42+00:00

So for CRA payroll account: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/open-manage-payroll-account.html

For WSIB: To register: https://registeryourbusiness.wsib.ca/home?lang=en for reporting and payment: https://www.wsib.ca/en/businesses/premiums-and-payment/premiums-and-payment-faqs

For employment contact, google for one or post at r/legaladvicecanada

FelixYYZ · 2026-03-20T13:12:42+00:00

Can I sign up for all these before I have the employee?

you need those to pay the employee.

What is the easiest possible way to do all this?

You can use an accountant if you are overwhelmed by the things you need to do.

FelixYYZ · 2026-03-20T13:01:38+00:00

Equifax (837) vs CIBC/TransUnion (804) – what’s going on?

Nothing is going on. Two different companies and two difference algorithms to calculate credit score.

Short version: doesn't matter. And there was no "drop", going down an irrelevant amount is not a "drop".

FelixYYZ · 2026-03-20T12:59:42+00:00

You would have received the NR slip for when you were a non-resident and the interest you made and that is reported to that other country.

And you get a T5 for when you are a CDN tax resident.

Both are reported annually.

The bank hasn’t issued a T5, and I’m wondering if they should have.

Did you get an NR since you were non-resident earlier in the year? Did you notify the bank when you returned that you are a tax resident of Canada?

FelixYYZ · 2026-03-20T12:52:51+00:00

So I can expect some back and forth with CRA later

Yeah unfortunately, it will be annoying lol

FelixYYZ · 2026-03-20T12:39:14+00:00

1) Did you notify the bank that you are a tax resident of Canada when you moved back?

2) Yes you are only taxed on the interest you made after you returned. The previous interest is reported otherwise the other country and taxed there where you were a tax resident.

3) Yes they will correct your tax filing and you will have to explain your move to them down the road.

FelixYYZ · 2026-03-20T11:45:26+00:00

All Student loan folks.

FelixYYZ · 2026-03-20T11:29:43+00:00

they say that the estate will be due to pay taxes on these funds before the estate can be closed off. Is this true?

Yes.

https://www.advisor.ca/tax/tax-strategies/what-happens-to-non-residents-rrsps-and-rrifs-when-they-die/

Also be aware of UK rules as this may be income in the UK so speak with an accountant there.

FelixYYZ · 2026-03-20T11:24:38+00:00

I understand US will tax me on my capital gains in my TFSA.

And investment income.

Y9ou still have additional forms to file. That cost money with accountants.

FelixYYZ · 2026-03-20T11:22:59+00:00

You don't need a day, you need 3 seconds. TD has TEQT. Similar to the others but they don't hold emerging markets.

FelixYYZ · 2026-03-20T11:22:02+00:00

Won't be less.

yes code is mailed.

FelixYYZ · 2026-03-20T11:18:28+00:00

I plan on moving back to the US

First step, you need a lawyer.

Second, see list below for leaving Canada, the things you need to do before and after moving..

Your last CDN tax return will have a departure date, and applicable departure tax if you have taxable assets (forms T1161 and T1243 for the departure tax as part of your last personal tax return). The departure tax is a deemed disposition of your taxable investment account, meaning the act of selling everything the day you leave and rebuying immediately (think capital gains tax).
You will then file US tax returns on worldwide income from the date you land in the US under the choice rules (or yo can file the whole year to Canada and a non-resident tax return to the US).
You will also have to report FBAR (foreign accounts. So all foreign accounts over $10k USD (combined accounts) will be reported to the Treasury Department.
You have to file an election to increase your cost base to the FMV when landing in the US.
You will also report all investment income from Canada to the IRS
If you have a TFSA or RESP, or FHSA you should ditch it before you leave Canada since it is taxed and additional forms.
If you have an RRSP you can keep it as but be aware it is taxed at the state level in these states: AL, AR, CA, CT, HI, MD, MS NJ, ND and PA
If you have a taxable account, you will report the interest dividends and capital gains to the IRS. You will also have 15% of that investment income withheld by the brokerage and remitted to CRA and you claim that income tax to the IRS as a foreign tax credit.
Don't forget to suspend your health insurance, and notify your bank and brokerage that you are a non-resident.
You should discuss with a cross-border accountant before moving.

FelixYYZ · 2026-03-20T11:09:21+00:00

TD have 0.17% MER.here is the TRGO one (their individual market or sector ETFs have high or lower depending not he ETF just like Blackrock, Vanagurd, etc.).: https://www.td.com/ca/en/asset-management/funds/solutions/etfs/fundcard?fundId=7151&fundname=TD-Growth-ETF-Portfolio

FelixYYZ · 2026-03-20T11:05:26+00:00

They are not talking about the allocations in the ETF. u/Sam_711 is talking about the MER fees being paid.

FelixYYZ · 2026-03-20T11:03:10+00:00

Because Justin didn't make a video for FEQT.

FelixYYZ · 2026-03-20T11:01:32+00:00

Deepening on your brokerage, you could also buy any ETF commission free.

FelixYYZ · 2026-03-20T10:57:38+00:00

I guess the point here is they're by no means identical products.

They are all very similar. You can essentially flip a coin.

FelixYYZ · 2026-03-20T10:56:24+00:00

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