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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: I have received from my financial institution a notice concerning the following coming regulation: "New IRS regulation 1446(f) is being enacted beginning January 1, 2023 that affect all Publicly Traded Partnership (“PTP”) holdings (including various Canadian and foreign issuers such as Brookfield LP)." Are you familiar with this regulation? Do you have any thoughts on how one should respond if one holds Brookfield LP units?

Very much appreciate the work you do and the information you provide.

Howard

Read Answer Asked by Howard on November 25, 2022

Q: Hi Peter,
If a capital gain occurs on a sale of an US stock (also listed under an US exchange) held in my non-registered account, would it be taxed as ordinary income at whatever my marginal tax rate is or taxed as capital gains rate, where ½ of the gain is taxed at 50%?
Thank you,
Roger

Read Answer Asked by Roger on November 25, 2022

Q: hello 5i:
my question regards RRIFs.
Next year, I turn 71 and will need to convert my RRSP to a RRIF. OK, so far.
Question 1: for withdrawals from the RRIF, what is the date that the withdrawal is based on? One source told me it was based on the amount on January 1rst, but if I don't convert until later in the year eg October; is that still true? Or is is January 1rst of 2024, and if so, how can I make withdrawals in 2023 if I don't know the exact amount?
Question #2. If I specify that I wish to receive income twice yearly, June and December: if I don't convert until October, does that mean I only have to take out half the yearly amount? Or, do I have to take out the full amount, regardless of how many times per year I've specified as withdrawals.
thanks
Paul L

Read Answer Asked by Paul on November 23, 2022

Q: Hi 5i: Further to Andre's question today, do you have to wait 30 days to repurchase a stock in a registered account if you sold it for a capital gain?

Read Answer Asked by Roderick on November 23, 2022

Q: This is a follow-up question where you suggested, "we would see no need to crystalize a gain on RY JUST to offset a loss. There may be other gains in the future, or one can offset a gain in prior years". I had a significant capital gain in 2021, If I don't sell RY to crystalize a gain in 2022, do you think that offsetting the JE loss in 2021 would be better than offsetting the loss in the future? Taxwise, my income is likely to be lower in 2022-2023 than in 2021, where I claimed significant capital gains.

Read Answer Asked by Dev on November 22, 2022

Q: I need some tax-loss advice. I would like to sell Just Energy with a loss and the loss can be covered with a gain after selling RY. After selling RY, I would like to buy RY back in a couple of days. Is there any risk in realizing the loss and buying RY a couple of days later? What is your advice? Thanks.

Read Answer Asked by Dev on November 22, 2022

Q: I purchased AQN a couple of years ago and when it hit around $10 a week or so I purchased again doubling the amount I own. It is still not a significant amount of my holds.
However, I am wondering if I could sell the original amount purchased couple of years ago at a higher price and claim a capital loss for those shares even though I have purchased more recently.

Read Answer Asked by Paul on November 22, 2022

Q: Just to be sure, the 30 days required by CRA before re-purchasing a stock sold for capital loss purposes starts ON the day after the trade date as day one ? or the day after the settlement date ? and we can buy again ON day 30 or 31. ?? I know you've answered this one a hundred times before but no easy way to find the answer !!

Many thanks for all you do. John

Read Answer Asked by JOHN on November 22, 2022

Q: I plan on journalling these stocks to my US account because the dividends are paid in $US. However, I am confused as to the appropriate listing name for BEP.UN on the NYSE as it appears to be the same as the one for BEPC, namely BEP. Is that correct?

Secondly, can you switch BEP.CA to BEP.UN:CA (or vice versa) in a non-registered account without the transaction being considered a disposition for tax purposes?

Appreciate your insight.

Paul F.

Read Answer Asked by Paul on November 18, 2022

Q: I have the same company in a RIF account and in a Margin Account. If I sell shares in the Margin Account for Tax Loss or Capital Gain, do I need to take the Cost Base from the RIF Account and the Margin Account together. My opinion is, that whatever is in the RIF Account does not influence the Cost Base in the Margin Account. What is correct?
Thank you!
Albert

Read Answer Asked by Albert on November 18, 2022

Q: Hi,
OECD will implement new international minimum taxes in 2023 and 2024.
Any idea which canadian or US companies will be most impacted, I guess negatively. Any positively? Thanks

Read Answer Asked by Denise on November 18, 2022

Q: New Tax Formula forETFs.?
Have tou seen this?
Looks like a good reason to only buy ETFs in registered accounts,
Just to avoid the tax calculations nightmare,
https://www.advisor.ca/news/etfs/new-taxation-formula-for-etfs-to-take-effect-this-year

Read Answer Asked by Madeline on November 15, 2022

Q: I want to invest in the S&P 500 in my unregistered accounts with HXS. Are you comfortable holding this total return ETF? Are there any known government issues with total return ETFs - I recall the Fed Government challenged these in the past? In registered family accounts I plan to use VFV and/or ZSP - do you prefer one over the other? For safety, would it be a good idea to use both?
Thanks!

Read Answer Asked by Grant on November 15, 2022

Q: Best Canadian tax-loss selling candidates for our watchlists (any industry)?

Read Answer Asked by Stephen on November 14, 2022