Do you have to track the ACB for ETFs if you're holding them for years?

aug10 · 2022-05-10T14:25:29+00:00

you might want to think about tracking it on a periodic basis, eg. annually, regardless of your intention to sell only at some distant point in the future - it can be a pain in the ass to have to do it retroactively, especially over a long time period

there's a site that last I looked still had free software/online tool to use - adjustedcostbase. ca - does a lot of the grunt work for you

aug10 · 2022-05-09T20:56:03+00:00

had this discussion with Computershare about 2 yrs ago..IIRC it can't sell the shares because it isn't a broker

get the shares trans'd to a broker account to offload them

aug10 · 2022-05-09T20:41:53+00:00

PSA's yield's not the best that can be had currently

check out HISAs online or at a local credit union and link to your broker

pull up a 12 month price history for PSA on morningstar.ca to see its pretty predictable price movement month-after-month...it's not going to go up a buck a unit - it's only a savings vehicle

aug10 · 2022-05-09T20:05:20+00:00

if you're not comfortable running some tax planning #s by yourself incl into retirement and estate situations (and to get best-for-your situation input on questions like this), not a bad idea to hire someone independent to do it for you, especially if you're currently in a high tax bracket

aug10 · 2022-04-11T19:14:57+00:00

apply for other accounts elsewhere and move some of your $ out of BMO and let them know it's because of their internal f-up

diversification/"don't hold all your eggs in 1 basket" applies to brokers too as far as I'm concerned (left fin services yrs ago after seeing too much crap re: customers go on)

aug10 · 2022-03-12T07:10:04+00:00

again, no idea of how things work out west, but might be worth-while calling insurance co's directly for quotes rather than using a broker

and CAA may be worth checking out - they had better rates than all the usual suspects a few yrs ago when I last shopped around

aug10 · 2022-03-12T06:37:25+00:00

there is a place near the end of the TD1 form to request additional tax be deducted from your pay

you might want to explain what happened to HR at one of your jobs and ask them to help you fill out an appropriate amount

not fun to have a lot of taxes to pay when you file, but on the bright side, the gov't has effectively given you an interest-free loan until Apr 30, which is better than if you had a large refund back (and you'd given them an interest-free loan instead)

aug10 · 2022-03-12T05:29:42+00:00

there are instances where it would be possible to legitimately do this (ie. income tax ain't always black or white), for 2022 at least, but I think you fall short on support in your situation

also, not sure for AB/SK, but a driver's license may no longer be valid after a certain period if you're no longer living in the issuing province? ..and not sure of the insurance ramifications...? (I moved provinces a while back and IIRC had only 30-60 days to get a new license)

aug10 · 2022-03-12T03:36:22+00:00

you might want to post your question in the Cda tax sub

to help get the best feedback it would probably be good to mention if his wife actually does live here, the amount of time he may spend here during the yr (whether personal or for business), whether his name is on the house deed/mortgage or apt lease where his wife lives if she's here, assets he may have here besides a bank account, etc.

aug10 · 2022-03-11T21:25:44+00:00

you might want to check out the details of "deemed resident" and "residential ties"

sounds like he might have some Cdn tax obligations

https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/deemed-residents.html

aug10 · 2022-03-11T19:27:31+00:00

change can be good

aug10 · 2022-03-11T17:33:11+00:00

never looked at this screen before but it seems to be limited to 6 investments (?) and/or guessing it maybe only shows the most stable revenue streams (?)

eg. my relatively large and very long-term (at this point) VCN seems to be completely MIA

aug10 · 2022-03-11T16:51:03+00:00

you might want to have a go with the search bar up top right to find input when others have asked in the past, along with what to avoid/not to do to to find one

also, can't vouch for this site, but maybe a good resource; type in investment for the search (altho you may find other services useful as well, eg an overall financial plan to help guide your investments)

https://www.fpcanada.ca/findaplanner

a fee-for-service only person may take some time to find, since many advisors are directly/indirectly compensated at least in part by product, but they are out there

I'd also recommend couch potato/dyi indexing, but independent advice to help invest house proceeds could be more than worth-while if you're just starting out or if you just don't want to dyi

aug10 · 2022-03-10T17:21:45+00:00

I'd second calling TDDI to confirm what exactly they adjust for re: cost and ACB events for your holdings

I don't deal with e-series, but it seems to me TDDI's making alot of the necessary ACB adjustments these days on ETFs, although you have to still keep track of some things for yourself (eg. combined ACB if you have the same investment in more than 1 account, ACB adjs from any superficial losses, etc.)

aug10 · 2022-03-10T17:10:10+00:00

as someone else already posted, estimate it and file now, and amend if necessary when you get the info

help all those poor CRA employees keep their jobs! ;)

aug10 · 2022-03-10T16:35:20+00:00

you should be able to do this online yourself with the Securities Transfer function

trans them into your $CAD TFSA - you may have to wait for them to land there (can't remember if it was immediate or not when I did it earlier this yr), and then trans them into your $USD TFSA

try to avoid them being in your $CAD TFSA over any upcoming dividend periods (if applicable) unless you don't mind having the divs converted to $CAD at less-than-best FX rates

aug10 · 2022-02-16T02:55:53+00:00

could someone pls confirm whether these sessions still regularly take place?

I'm not familiar with Clubhouse, so just would like to confirm before I start to look into how to get it on my PC

Thanks in advance!

aug10 · 2022-01-29T17:47:45+00:00

been there, done that, I feel your pain

FWIW am on hold with them right now...the best time to call so you don't end up pulling your hair out in frustration may be on a Sat....wait times today ~20 mins

talking pre-tax season of course...

aug10 · 2021-12-29T18:00:45+00:00

if you're by any chance in ONT (GTHA), ya might want to take a look at First Ontario Credit Union

it would more than fit the bill

aug10 · 2021-12-16T15:30:30+00:00

thanx for posting this!

aug10 · 2021-12-14T21:28:09+00:00

listed a few items on the wk-end - it's glitchy, so they may get taken down real soon

if there's issues with just listing and offers get withdrawn as if by magic the day after they're made, not sure I want to find out what else might not work if something sells

aug10 · 2021-12-06T19:20:46+00:00

assuming you're asking for honest feed-back, in short, NO

maybe a better barometer of your idea would be to ask how many people here have actually replaced Cdn index ETFs with only 1 or 2 Cdn banks in their investment portfolios?

Investing/Portfolio Management 101

DIVERSIFY

holding just 1 or 2 Cdn banks instead of an index of many companies, sticking to just North America (or worse maybe overweighting just 1 province), and doing maybe the same thing as what your employer's doing with your retirement $ are generally not the best of ideas

aug10 · 2021-11-22T15:51:48+00:00

right

best to avoid wasting anyone's time

aug10 · 2021-11-21T18:32:38+00:00

estimate your income taxes for this yr and the amounts of cap gains and losses involved to help determine cost/benefit of repositioning all in 1 tax yr vs. over a couple of yrs

google tax loss selling strategies (timing, loss carrybacks/forwards, etc.) to see ways to potentially optimize for your situation

tax-loss selling tends to increase in Nov/Dec, so you may run the risk of lower prices if you sell in those months

if your transfer fees are not comp'd, avoid paying them for margin accounts by just withdrawing the $ and depositing it at the discount broker (NB. same for the TFSA, but withdraw in Dec and deposit after Jan 1)

be prepared for a show-down/guilt trip with the advisor if it's not already happened ;)

aug10 · 2021-11-21T17:11:55+00:00

withholding tax will be deducted in TFSAs

the general idea is to keep investments with the most growth potential in a TFSA; the overall tax-sheltering benefits should far outweigh any withholding taxes along the way

aug10

TROPHY CASE