Investment Q&A

Q: Divid Milstead in the Globe writes that BAM is considering moving it's HQ to New York. Could you comment on likely implications for Canadian holders? If this is a go; what kind of advance notice might be customary?
Thank You.
https://www.theglobeandmail.com/business/commentary/article-as-brookfield-seeks-us-stock-index-membership-it-could-continue-to/

Q: I've still got my now worthless XBC shares in my trading account. Seems its taking years to finalize the bankrupcy. Is there any benefit to leaving these shares or is it best to get rid of them and claim the loss? What do I ask the brokerage to do to get rid of these shares to produce the loss statement, since I can't sell them on the open market? Thx

Q: Are there any particular tax implications on the yield for these 2 ETFs ?

Thanks

Q: In your answer to Barbara that appeared this morning, you reference that a Canadian who holds dividend paying investments could receive up to about $48000 tax free in income. Could you clarify this for me as I have heard that to apply, all of a persons income must be from dividends. Is this true? My wife and I have no employment income, but we do have a mix of dividends, interest, capital gains, and rental income. Trying to understand how this works.
Thanks!

Q: I have been fortunate enough to retire before my husband and we live off of his salary. Currently I have over $1M in Registered trading accounts. In this scenario, is it typically better for a person to start taking money out of their RRSP when they have no income, and then move these funds to an unregistered trading account to grow, or is it better to leave this money in a registered account, take a large tax hit later, and let it grow sheltered until needed? As always, your comments are very much appreciated.

Q: What happens to a spouses TFSA if they pass away,and you are the registered agent for the account.My question is can you continue to trade ,or do nothing and could the fund continue to grow tax free

Q: FYI. Re question from Denise of Oct 11 regarding 1994 ACB election with CRA. My experience is that CRA has maintained details of these elections and can provide them.

Ian CPA C.A,

Q: Greeting, 5i. I will turn 71 on December 31st, 2024. I understand that I must convert my RRSP to a RIF in the year I turn 71 but that I do not need to make withdrawals until one year after I open the RIF. Does that mean I must make the conversion in the next ten weeks of 2024 and can postpone withdrawals until 2026, or can I make the conversion in 2025 and postpone withdrawals until 2027? I look forward to your reply. Thank you.

Q: Have read previous answers about the ACB being the price on day one of trading or $30. My broker has has assigned a ACB of $12.99 per share and reduced my ACB of TRP by #shares X 12.99. Which version is correct?

Q: Recently I transferred in kind shares of Bell. From my unregistered account to a TFSA.They were deemed to be sold at a loss.Can I claim the loss?.And also my shares of MG that are at a significant loss in my TFSA which I if needed to sell .If I transfer them to my nonregistered account will they be deemed to be sold in TFSA and I would not be able to claim the loss? As allways thanks Larry

Q: Once upon a time…..(1990) I bought shares of TRP. Many events around TRP since then, including recent SOBO spinoff, but I still own some of my original shares. You might be too young for this, but in 1994, a change was made to Capital Gains Exemptions law. We could lock Capital Gains as of Fev22,1994, in filing Form T664, and claim them later by increasing ACB. I still have my personal notes for this!. By any chance would you -or your subscribers- know if CRA keeps records as far as this? CRA web site shows records for 2012+. In 1994, tax returns and any other documents were made on paper of course. Thanks again.

Q: Hello 5i
I notice that you have often mentioned Harvest etf’s in relation to tax efficiency. I haven’t paid too much attention to this in the past. But, now I am interested. I have searched the questions but don’t seem to find what I am looking for. Currently in a non-registered account I hold some vbal. I don’t like the taxes i will pay, though. I want to switch to something more tax efficient.

How exactly does Harvest manage not to require to pay taxes on dividends? I know they re invest the money but i don’t know how that works.

What would be the downside? Higher mer, i imagine. Anything else?

I would be looking for a general market etf, either Canadian or US, or both, if available. I would greatly appreciate your recommendations.
Thankyou

Q: Please advise if HAMILTON covered call ETF (QMAX, EMAX and others) eligible for the Canadian dividend tax credit.

Thanks for the great service

Q: I hold full positions in both these stocks and see them as both tied closely to the renewable energy industry. Am I correct? If correct, which one has the best growth profile should I decide to sell one to reduce my concentration risk? Would you expect these stocks to fall with a Trump win?

Q: Is there a CRA or other government agency limit on cash gifts to adult children living out side of Canada but who has a Canadian bank account to facilitate annual visiting trips home and affairs in Canada?

Q: Good morning!

If I sell a stock in a TFSA at a loss, do I have to wait 30 days to buy it back?

Thanks

Dave

Q: Because the stock symbols are distinct can I sell BEP.UN at a loss and then buy BEPC within a week while booking the loss?
With appreciation,
Ed

Q: Wonderfi seems to have struggled even as Cryto activity and prices have risen.

Currently share price is back near its 52 week low so whatever they are doing seems not to be working even though crypto itself over the past months has risen.

If their revenue is generated merely as a function of AUM shouldn't the higher crypto price have led to better Profitability and going forward with crypto seemingly being accepted, alto not necessary endorsed, would you see any liklihood of another financial institution buying them to participate in the crpto market on an arms length basis?

Could any of the lack of performance relate to share dilution and lastly at this level could its current price justify a small investment?

Craig

Q: I realize you are not tax experts, but I wonder if you can, nonetheless answer my question. I want to donate securities to charity. According to Wikapedia stocks owned for a year or more can be donated.. I'm assuming that's a US requirement as I can't see anything suggesting Canadians can't donate more recently purchased stocks. I want to donate a stock I technically bought in January (CSU deregistered from my TFSA) and then buy it again. Do you know any reason I can't do this? Thanks

Q: Sir: I am old, but still need your advise…am taking profits on stocks and just want to keep up with ( true) inflation, and don’t need any more of anything… hate paying taxes… like simplicity… tempted to just invest in precious metals and energy… appreciate your thoughts…