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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Are you aware of the following. I assume it may impact ownership of American stocks

Section 112105 of the bill introduces a 5% excise tax on remittance transfers of U.S. currency to foreign countries.
• This tax would apply to various forms of money transfers from the U.S. to other nations, potentially affecting individuals sending funds to family members abroad, including Canadian residents.
• The bill is currently under consideration and has not yet become law.

For Canadians with U.S. assets or those who receive income from the U.S., this proposed tax could have implications if enacted. It’s advisable to monitor the progress of this legislation and consult with a cross-border tax advisor to understand potential impacts on your financial situation.
Read Answer Asked by Leon on May 22, 2025
Q: In retirement I currently rely on my non-registered portfolio to provide about 80% of my income. Within this portfolio only 15% of the portfolio could be classified as dividend or income stocks (like CNQ, RY with 3-5% dividends). Thus far I have been creating income by skimming from my growth stocks, rebalancing when needed, and cashing in on my losers. While I recognize that a higher portion of dividend stocks would provide a greater sense of income certainty and less volatility, I have felt reluctant to forgo, what I currently believe to be, the potential for greater growth by focusing on the careful and patient management of higher potential growth stocks.
Question: From your experience, will I have a greater probability (not certainty) of creating more income in the long term (10 years) through this strategy or should I rely on a greater portion of dividend stocks?
Read Answer Asked by Calvin on May 21, 2025
Q: Hi,

I was looking to purchase some Tesla US this morning and I, for the first time, saw the Canadian CDR currency hedged option. Can you provide any guidance as to the preference of one over the other. (I do get that the currency risk (or alternately, reward) is reduced (or eliminated). Is there any other information should be aware of ?
Read Answer Asked by Jim on May 20, 2025
Q: Just following up on a question today regarding selling a stock in a non-registered account and buying it back in an RRSP or TFSA. I understand the superficial loss rules, but how would the CRA track a purchase in an RRSP if one’s RRSP trading records are not sent to them by one’s broker? My understanding from personal experience is that only non-registered account information is forwarded to the CRA.
Read Answer Asked by Trevor on May 13, 2025
Q: Re: Non-registered account. If a BUY transaction was done within the prior 30 days and now a PARTIAL SELL transaction is done resulting in a loss.....

QUESTION: Is the tax loss claimable or does the loss amount need to be considered superficial and added to the adjusted costbase of the remaining position? No further transactions would be contemplated for at least 30 days after the most recent PARTIAL SELL transaction.
Read Answer Asked by Richard on May 13, 2025
Q: can i sell stock x from my non registered account and buy it for my tfsa days later
thank you
Read Answer Asked by Peter on May 12, 2025
Q: This is just a comment : I don't 't hold any more CDN stock in a US nonregistered account in order to get us dividends with no fees ,since I noticed that it was complicated to declare. I rather hold US stocks exclusively in my RRSP , if I need to convert US cash in CDN, I rather use ETFs for converting large amounts for very low fees if ETFs are close to NAV. ..
Read Answer Asked by Jean-Yves on May 10, 2025
Q: Earlier this month the CRA asked tax-filers to delay filing if they had capital gains because their system had not yet been fully readjusted for the capital gain flip-flop. Since then I have not heard anything more; do you know if they are now up to speed? Because of that delay request, I'm going to be late.
Read Answer Asked by Molly on April 29, 2025
Q: Regarding the question about form 1042-S, I asked Perplexity "where to input numbers for form 1042-S. on American tax return. and it came up with a very good answer which I am not putting here as the answer is long and depends on circumstances.
Perplexity is a very useful tool and will answer complex questions with clarity
Read Answer Asked by Peter on April 29, 2025
Q: Form 1042-S

Hi there,

I know you 're not a tax expert but maybe you are familiar with form 1042-S. Just asking where to input the numbers under this form on my tax return. This is the first time I received on this one. The reason Im asking is because I asked my broker and still they did not get back to me.

Appreciate your help.

Thanks
Read Answer Asked by sunday on April 29, 2025
Q: Can you advise as to how one claims 5i services expense on this year‘s tax return
Ty
Read Answer Asked by Indra on April 28, 2025
Q: Hello
I would like to sell the following for a capital loss XSU, ZMID, ZSP and replace with an eligible proxy. could you tell me a proxy for each one?
thanks
PS - I tried to submit this question a few minutes ago but got an error response. apologies if this is a duplicate
Read Answer Asked by Mary on April 24, 2025
Q: Greetings…I’ve taken a 10% haircut on this ETF held for healthcare exposure. I could book the loss, but if I replace with another healthcare ETF inside of 30 days in your experience does the CRA have a problem with that? Also, some of the other ETF’s on the TSX look like they have fared even worse. Any ideas? (Trying to avoid holding one or two US companies individually)
Read Answer Asked by Stephen R. on April 23, 2025
Q: Hi 5i, I have RRSP TFSA & CASH account investments , I need to start using it for income , wish account would use first?, Would using RRSP, CASH & TFSA, in that order, make sense? or any other approach.
thanks in advance
Read Answer Asked by Fernando on April 21, 2025