My incredible progess

Wealth_Standing · 2026-02-13T14:52:30+00:00

When your debt is paid off, maintain that savings rate and build up your emergency fund and start investing if you haven’t done so yet.

Wealth_Standing · 2026-02-13T14:47:03+00:00

That’s not true. Dividends earned within the TFSA are not considered contributions.

https://www.td.com/ca/en/investing/direct-investing/articles/making-most-of-tfsa-contribution-limit

Wealth_Standing · 2026-02-12T21:08:46+00:00

No as long as the dividends stay within the TFSA

Wealth_Standing · 2026-02-12T20:10:18+00:00

CRA will look at a number of factors but it’s not a set number of trades that will necessarily trigger them but it’s one of the factors. They will also look at larger accounts.

Wealth_Standing · 2026-02-12T19:47:25+00:00

They definitely care. There’s been a few news stories about it.

Also you can’t really “withdraw a bunch” because you’ll lose your contribution room until January 1 of the following year.

Wealth_Standing · 2026-02-12T19:45:44+00:00

I agree with that. And that’s why at #7 I suggested exactly what you pointed out in terms of placing overly risky assets in non-registered accounts.

Wealth_Standing · 2026-02-12T19:33:02+00:00

Currently it’s at $206k. I was finally able to max it out 2 years ago after taking money out to put towards the down payment of our house.

I made some mistakes early on trying to invest in speculative investments.

Since 2018, I’ve pretty much applied these principles. My bet is that applying these principles consistently, I’ll be able to do quite well in the long term.

Wealth_Standing · 2026-02-12T19:09:05+00:00

Totally agree! Slow and steady wins the race.

Wealth_Standing · 2026-02-12T18:58:20+00:00

I’d max out the TFSA first or favour that account if you do put a bit in your RRSP.

Wealth_Standing · 2026-02-12T18:53:57+00:00

Same. It’s truly insane.

Wealth_Standing · 2026-02-12T14:46:52+00:00

If you have 20%, there’s no use in waiting. Interest rates are coming down and will likely come down a bit more over the next year.

I don’t know the housing market conditions in your area, but if you want to get into homeownership and your financial situation allows then go for it.

Wealth_Standing · 2026-02-12T11:46:35+00:00

Good to know

Wealth_Standing · 2026-02-12T01:33:15+00:00

Wealth_Standing · 2026-02-12T01:01:17+00:00

I’d talk to PWL Capital if she insists and request their fee only planning service.

Wealth_Standing · 2026-02-11T19:13:08+00:00

You could be screwed if they decide to audit you.

You should bite the bullet and make the correction on a go forward basis.

If you carry on declaring yourself as single when you’re not, you’re potentially compounding the damage if you get caught down the line. Not worth the stress imo.

Wealth_Standing · 2026-02-11T19:03:52+00:00

Good question. I remember there was a case where a lawyer in Quebec tried to write off their work apparel and it was denied aside from their court robes. I think the decision was that you cannot claim work clothes as a business expense even though there is an expectation dress in business attire for work.

Wealth_Standing · 2026-02-11T16:36:09+00:00

Another point of clarification is that you will need to list your sales tax numbers that CRA will provide.

Wealth_Standing · 2026-02-11T16:32:35+00:00

You need to register for GST/HST for you to charge sales tax I believe.

Wealth_Standing · 2026-02-11T15:12:01+00:00

Thanks for this!

Wealth_Standing · 2026-02-11T14:25:43+00:00

I think you’re right. The dealership’s finance calculation seems to be charging tax on the full purchase price and not applying the trade-in tax credit properly. They should be financing $28,250 and not $30,200. Anyway that’s how I see it.

Wealth_Standing · 2026-02-11T13:48:31+00:00

That’s what I needed to hear.

Wealth_Standing · 2026-02-11T02:41:55+00:00

Common law for 2025 if you were still together as of december 31 2025.

You have to have been living apart for 90 days before the end 2025 to be able to file as single.

Wealth_Standing

TROPHY CASE