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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: 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
Q: Good day,
I read a snippet of something on an investment forum about proposed US tax changes with regard to withholding charges on US dividends. From what I understand, the changes, if implemented would mean the US would begin to charge withholding tax even on dividends in RRSP accounts. Would you know anything about this?
Read Answer Asked by John on April 17, 2025
Q: If Brookfield companies would have to start paying their fair share of taxes to Canada (with possible new leadership) instead of avoiding it because of their Bermuda base tax heaven , would Brookfield still be worth holding?
Read Answer Asked by nick on April 15, 2025
Q: Hi, holding a few of these losers now in my non registered accounts - they were nice winners just a short time ago. What are the best proxies for these as a tax loss strategy? If my holding is CAD and the proxy is US, should I convert CAD funds to buy US or avoid these situations? Also, at what $ or price % loss would you consider doing these tax loss trades? Thanks!
Read Answer Asked by Keith on April 09, 2025
Q: Someone asked a question about T1135s and ETFs and your response was that if the fund is domiciled in Canada a T1135 wasn't required. Could you publish a list of which funds are and aren't? This would be helpful in selecting which ones to avoid if you want to reduce your tax paperwork.
Read Answer Asked by Robert on April 08, 2025
Q: If you own (cost basis) over $100,000 (I believe) of foreign stock, you need to fill out a T1135 form. My question is, if you owned EFTs for foreign companies, and purchased those EFTs on a Canadian market, will those EFTs need to be included on the T1135?

I know this is a tax question, but I hope it has an easy answer. Thanks.
Read Answer Asked by Brad on April 07, 2025
Q: How does RETURN OF CAPITAL affect ones annual Canadian tax return and does one have to keep track of them over longer periods of time? Thanks
Read Answer Asked by george on April 07, 2025
Q: Tax question if you allow ( I acknowledge you are not tax advisors and that I am solely responsible). CRA form T1135 includes a column showing realized gain (loss) in Canadian $. The amounts I calculate after adjusting for purchases and sales made at different dates and after adjusting for commissions charged by brokers for Forex conversions , I arrive at a lower realized gain. The difference is not really for the “Outlays and Expenses” box in the T5008 in TurboTax software. Does it matter that I have a lower capital gain than the amounts shown in the T1135 ? Or do I need to report the exact amounts shown in the T1135? Thanks.
Read Answer Asked by Adam on April 07, 2025
Q: I just read that you are saying there is a 10% tax on the sale of limited partnership shares. Is that only for US LPs? Or are you saying that when I sell my bip.un shares, that i will have to pay a 10% tax on the proceeds, independent of whether there is a gain or loss from the sale?
Read Answer Asked by arnold on April 02, 2025
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