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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: Peter and His Wonder Team
This is about Capital Gains Tax and Tax Loss Credits. I have 6 accounts: Canadian Cash, USA Cash; Canadian Tax Free, USA Tax Free; Canadian RIF and USA RIF. In terms of taxation is this just 3 accounts to 2 different currencies? Can I write off a loss from my Canadian Cash with a gain on my USA Cash? With the Tax Free Account is it true that you pay no tax on gains but also get no credit for losses?
Thirdly...With the RIF Account is it true that gains and losses are not matched...you only pay tax on the annual amount that must be withdrawn over the years? Thank you for answering my rookie questions!
Read Answer Asked by Ernest on November 30, 2020
Q: You may or may not know the answer but i am hoping to transfer some of my stocks to my grandkids at some point before i die. (i might as watch them enjoy it while i can). is there a most efficient way to transfer stocks between two individuals? i was under the impression they had to be sold to transfer the funds but i have seen several posts about 'inheriting' shares. i assumed that most of the 'inheriting' was coming from registered retirement accounts or RIFS.

Can you point me to a resource?
Read Answer Asked by kelly on November 26, 2020
Q: Hi Guys, I was thinking of putting this ETF in my TFSA for some monthly income. I was wondering if there would be a withholding tax applied if it is in a TFSA because of the US content. I there is do you know how much? If there is then perhaps this would be more suited in an RRSP. I'm retired and am looking for income. Thanks for your help.

Mike
Read Answer Asked by Michael on November 26, 2020
Q: I am in my early 80's ,have large capital gains and plan to stay invested in equities as my parents lived to over be over 100.
I believe that the capital gains inclusion rate will be increased to 75% as early as December 31,2021 which is 50 years since the capital gains tax originated.
As a result I intend to begin selling the equities with the largest gains with a view of buying a portion of them back after leaving enough in cash to cover the tax.
Can I repurchase the same day or do I have to wait until after the date of settlement?
Read Answer Asked by Terry on November 19, 2020
Q: Could you provide 5 or 6 names of solid/dividend paying companies that took a hit from tax loss sales in Nov. 2019 timeframe? (if there were any)
Thank you
Read Answer Asked by Delbert on November 10, 2020
Q: Could you suggest 5 or 6 solid/dividend paying companies that may take a hit from tax loss selling? Thank you
Read Answer Asked by Delbert on November 06, 2020
Q: Hey team, I think you misunderstood Jacob’s tax question. He WOULD have to declare his capital gain on his growth stock. He is not excused from this just because he rebuys the same stock shortly thereafter.
Read Answer Asked by James on November 05, 2020
Q: I noticed you said that you have to wait 30 days to rebuy suncor after selling it for tax-loss. Is it the same for declaring profits? If i sell a growth stock for a profit, but rebuy it the next day, do i have to declare it?
Read Answer Asked by Jacob on November 04, 2020
Q: Greetings 5i team,
This question is regarding tax loss selling. I have a major loss on su.to in my Margin account. I want to keep the stock for the long run. My question is is it possible to file tax loss without selling or should i sell and buy back. If so how soon can i buy back?
Thank you
Ravi.
Read Answer Asked by Raveendra on November 03, 2020
Q: New customer to 5i. Retired, 62 years old, married, investments held jointly, 65% of low 7 figure DIY portfolio made up of Cdn equities, rest in cash/bonds. 90% of equity held outside of SDRSP accounts. Question – for many years, we’ve been receiving dividend income that is eligible for the tax credit and have paid virtually zero income taxes. I am aware that we are not at all diversified internationally and have broken this fundamental tenant in investing. But since taxes are likely the single biggest cost in our lives, we believe our lack of int’l exposure (and thereby probably missing out on better returns), is less important than our tax savings. Is this stance short sighted ?
Read Answer Asked by Ken on October 30, 2020
Q: I am planning on selling some of my losers for a tax benefit. I plan to repurchase many of them after the 30 day period. What is the best time to sell for tax loss. Early November or late December? and the reasons for

Thank you
Steve
Read Answer Asked by Steve on October 30, 2020
Q: Hi 5i team, thanks for answering my question so soon. However, what I want to know is : do I have to wait 30 days before buying back the stock even though there is a net gain. Thanks.
Read Answer Asked by victor on October 27, 2020
Q: Hi 5i team, I would like to clarify the 30 day rule on loss selling. Hypothetically, if I buy say 300 shares at $1 and sell 200 at $1.5 ( gain of $100)and at a much later date say 1 or 2 years sell 100 at $0.5 (loss of $50).Will the last sell at a loss counted as loss selling? Thanks.
Read Answer Asked by victor on October 27, 2020
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