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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: Kind people of 5i - the other day someone wrote in a question "I can move stocks in kind from my rrsp to my tfsa..." Startled I was. Is this correct and can one not yet using or not yet maximizing their tfsa simply transfer shares in kind from their rrsp to either a new or an existing but not maxed out tfsa and thereafter use the resulting monies withdrawn from their tfsa without tax. Or am I misunderstanding something such as the transfer from the rrsp to tfsa would still have a 30% holdback and the need to declare the share value at date of transfer as income in the year of transfer. A clear understanding of this issue is what I'm seeking with thanks.
Read Answer Asked by Ken on January 04, 2019
Q: Hi All:

Hope you all have been enjoying the X'mas season. Happy 2019 to each one of you!

I noticed the cost per unit on the monthly statement changes sometimes for the ETFs I own. I own another one other than ZBK. I wonder what makes it change? When I sell them should I use the cost per unit on the monthly statement as ACB? If I sell part of it that I should use that month cost per unit to calculate the ACB?

Thank you.

Louisa
Read Answer Asked by LOUISA on December 28, 2018
Q: for us residents and taxes, does trade date or settlement date matter to enter into 2018 tax return, where in Canada settlement must fall within 2018. Thanks
Read Answer Asked by george on December 27, 2018
Q: I have been told that the max. contribution to a TFSA has been increased to $6000.00
Can you confirm that? H.
Read Answer Asked by Harry on December 24, 2018
Q: Quick comment on tax-loss selling. It is my understanding that if you have a net loss this year, you can also use this on PREVIOUS 5 years where you had gains. Many may now be in this position. And some like me may also have had higher earnings in past years so this could also make an impact. True?
Read Answer Asked by Kel on December 20, 2018
Q: To confirm my numbers/thinking around tax loss selling could you please confirm if the following is accurate: If I have a capital loss of $5000 and my marginal tax rate is 40%, I can now or in the future use that to offset a capital gain of $5000. 50% of this capital gain is taxable, so I am in essence saving $1000 spendable cash for myself (40% of $2500). Thanks!
Read Answer Asked by Andrew on December 20, 2018
Q: I am pretty sure you have answered this before but I could not find anything with the search option, so here goes.

Brookfield companies have a complex structure and I was wondering in which category exactly their distributions fall with regards to taxation. For example I read that sometimes distributions from shares of BIP held in a TFSA were subject to the 15% witholding tax, while some other times they were not.

Could you please clarify the situation and also state your prefered account in which to hold BEP, BIP and BAM? I have them on my radar, so I want to make sure I maximize returns when the time comes to own them.

Thank you very much as always.
Read Answer Asked by Pierre-Charles on December 19, 2018
Q: Is this tax loss selling of stocks new? I don't recollect this being talked so much in the previous years. Please help me understand what has changed.
Read Answer Asked by serge on December 18, 2018
Q: Is the trade date or settlement date used for tax purposes? Can I sell a stock on Dec 29 and claim the loss on my 2018 taxes even though it settles in 2019?
Bryan
Read Answer Asked by Bryan on December 18, 2018
Q: I am trying to understand the ins and outs of the 11 billion special dividend from VM Ware VMW I hold the stock in my registered accounts. My thinking is that the stock will drop following the payment by a like amount, but I will be subject with US withholdings on the dividend, netting significantly less. Even though I think VMW is a good stock, doesn't seem like a good play for me. I am thinking of selling and possibly buying later. Your thoughts would be appreciated.
Read Answer Asked by Leo on December 17, 2018
Q: Hello, my understanding is that because of our tax rules the tax loss season (November - December) is something Canadian only. Is that correct? Do the American investors also have a tax loss season? Thanks, Gervais
Read Answer Asked by Gervais on December 17, 2018
Q: I know that there isn 30 day time limit on margin accounts. Are RRSPandTFSA accounts also @ 30 day limit.Thanks for your great service. Jim
Read Answer Asked by jim on December 13, 2018
Q: Hello, I do need some help what to do I received a letter from my TD Direct investing broker about the brookfield INF stating :that
Exch LP became non-qualified TSFA investments in OCT 2018
"CRA will require you to pay a one time penalty of 50 % based on the FMV of any investment that is acquired or becomes non-qualified in a TSFA"

Value of non qualified assest were $2695. $

My exchange date for the shares was in Nov. 2018
I did get the BIP for the Enercare shares and try to find out what went wrong,

Greatly appreciate some explanation for this.

Margit
Read Answer Asked by margit on December 12, 2018