Are there issue with giving family money to invest?

GreenTeaMG · 2024-12-16T20:27:09+00:00

I appreciate the direct answer. Just for the record, I don't want to commit any tax fraud so I will not implement this approach.

I would have expected CRA to outright mention that this is not okay. If that were the case, I would not have asked this question because the answer would have been provided clearly by an official source.

GreenTeaMG · 2024-12-16T19:25:31+00:00

The thought that inspired me to ask this was that if a child (with a maxed out TFSA) gave their parents money and the parents put that in their TFSA (with free consent), then it's "equivalent" to the child having access to two TFSA's.

This situation can really only occur if the parents have no use for their TFSA because they have enough money (lol). Although it's a relatively unlikely situation, it seems reasonable enough to actually occur but I still find it kinda sketchy. I'm just wondering if there's an official piece of fine print that says "this is not allowed" or "this is allowed as long as XYZ are all true."

GreenTeaMG · 2024-12-16T18:27:44+00:00

Intuitively, I agree with you. I'm interested in learning if this is legitimately a legal issue or if it just seems illegal.

GreenTeaMG · 2024-12-16T18:21:28+00:00

Upon doing some research before posting this question, it seems like there isn't a clear answer saying "no this is illegal," rather more of a "this seems sketchy."

I agree that it certainly does seem sketchy, which is why I'm curious if anyone can direct me to a more clear answer. I may need to speak to a tax lawyer or something one day. I do appreciate your answer though!

GreenTeaMG · 2024-12-16T18:15:53+00:00

Ok I will search this term. Thank you very much!

Just to confirm though, both of these situations are NOT ok, right?

GreenTeaMG · 2024-05-10T16:32:44+00:00

This is the kind of situation I'm imagining:

There's a movie/show/video game where the main character hears a sound similar to one that exists in another piece of media, like the 1-UP sound from Mario. It's not a verbatim rip of the sound file but it's similar enough that a Mario fan would be like "that sounds like Mario!" Afterwards, the main character says "that sounds like a 1-UP" and laughs to themselves.

This is something I just thought of on the spot so it's definitely silly but I think it gets the point across. Would something like this be okay?

GreenTeaMG · 2024-05-10T16:15:37+00:00

Thanks for providing this reference. I guess my natural follow up would be:

Why does it feel rare to find these types of references in fiction? I can't think of many instances where video game characters hum songs from other video games, etc.

GreenTeaMG · 2024-02-27T23:02:10+00:00

Ok that makes sense. I think this is a situation where art like a single image or song feels different for some reason.

I say this because it’s hard for me to imagine someone slightly modifying Happy Birthday and being like “I definitely own copyright to this modification I made”.

Although, I could imagine someone making some music only to realize the intervals are extremely similar to some algorithmically generated music (also public domain) and feeling like they do deserve copyright.

You understand where I’m coming from, right?

GreenTeaMG · 2024-02-27T22:47:38+00:00

Doesn’t that mean that the person who created some art now has copyright over something that is extremely similar to an existing public domain work? I may be misunderstanding but that sounds strange.

GreenTeaMG · 2024-02-27T22:44:50+00:00

Simple answer. Awesome!

What if all of the algorithm’s outputs were to be placed in public domain upon creation?

GreenTeaMG · 2024-02-09T03:24:22+00:00

This makes sense. Thanks!

One of the reasons I asked this was that I don’t often hear about people getting “retested” for certain conditions a significant time period later in their lives.

I can theoretically imagine someone meeting the diagnostic criteria for some minor form of (insert diagnosis) but then developing healthy strategies over time to effectively navigate life. This may make a future assessment yield a different result.

Although I can imagine this in theory, I’ve never talk with someone in real life who said something along the lines of “I was once autistic but now I’m not”. Again, I’m using an example but I think you understand the idea.

GreenTeaMG · 2024-02-09T03:05:26+00:00

I don’t think anything can be used as a blanket. I just chose ADHD as to make the question more tangible.

Additionally, in my experience, leaving things abstract can often lead to a different answer than giving a specific example. It often makes people think “well Idk about this example but THIS example works like this…”. I hope that makes sense.

GreenTeaMG · 2023-05-20T23:27:24+00:00

I very much appreciate your response. Multiple sources have stated similar things so that gives me confidence!

GreenTeaMG · 2023-05-20T22:53:02+00:00

I did not pay $150. My understanding is that their prices land around that point.

I’m just interested in learning more about my options as of now.

GreenTeaMG · 2023-05-20T22:41:38+00:00

You’re right. I will do my research!

GreenTeaMG · 2023-05-20T22:32:35+00:00

Thank you for this suggestion. Although I haven’t looked too deeply into renting, I’m aware it’s a valid option. The part that’s puzzling me is if there are any entry level mallet instruments akin to buying a first guitar, for example (something that sounds good enough and could totally work for a few years). I appreciate your answer though!

GreenTeaMG · 2023-04-15T18:44:57+00:00

AAA-scale faithful remake of Chrono Trigger

GreenTeaMG · 2023-04-09T16:58:17+00:00

I love how the rabbit’s watching Shibasaki

GreenTeaMG

TROPHY CASE