Investment Q&A

Q: I have a Tax Free Saving Account government regulation question. In January 2019, I contribute $6,000.00 dollars, the new possible limit per year. Then, in January 2019, I transfer in-kind from regular account to my TFSA a stock worth $6,000.00 dollars. Now, can I buy another stock in the TFSA with the $6,000.00 dollars in cash in the account?

Q: I am selling visa either this year or next year. Realising that you can not time the market and considering currency exchange could you advise a possible time to do this. Would this stock have a sharp drop in a recession. Do you think the Canadian dollar will weaken. A lot here so take credits as required. Thank you for the service.

Q: I have a general question on taxation of investment income. If one had a mix of dividends, capital gains and interest income. Which source would taxed at the highest rate?

Q: RE: Tax loss selling (registered accounts)
If I sell a stock at a loss in my RRIF or TFSA, do I still have to wait the 30 days to repurchase it in one of the above registered accounts ? For example I sold KEL, am I allowed to buy ZEO or another oil & gas company ? Thanks as always for your valuable advice !

Q: I own ALA (Alta gas )CU (can utility ) VET (Vermillion ) all with a loss.I am planning to sell for tax loss.When is the best time to sell so I do not loose the divider for month of DEC, before end of the year.Thank you

Q: If there is a capital gain , for example, of $5,000 on the sale of one stock does there have to be a matching capital loss of $5,000 on the sale of another stock in order to avoid payment of tax ? Thanks, Joe

Q: I sold SIS at 19 for a gain
I also sold PHO at 1.18 for a loss
The gain offset the loss on the above stocks.
I realize that I cannot buy PHO back within 30 days or CRA will deny the loss. But I can buy SIS back within 30 days, Right?
Thanks

Q: I would recommand for all to check with their bank for taxes report.
My bank IS providing annual T5 for all compound GIG.
Hope it is helpful

Q: Re: Tax Loss Selling. I understand that a loss counts if you wait 30 days before repurchasing. However, what if you repurchased in a different account in less than 30 days. Who the loss hold up? Thx Frank

Q: The Nov.19 response to the tax treatment of GIC interest question is not quite accurate.
Most interest received is treated on a cash basis, so on a 1 year GIC a holder must only wait for the issuer's T5.
As for a COMPOUND interest GIC beyond one year, the second part of your response would apply, except it is the onus of the issuer to do the accounting and issue T5s.
See CRA link:
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/completing-slips-summaries/financial-slips-summaries/return-investment-income-t5/accrued-interest/investment-contracts/what-investment-contract.html

Q: I know you have recommended growth stocks in a tfsa account
For tax reasons, what about fixed
Income portion in the tfsa and
Dividend and growth in a investment account for the same reason. I review the previous questions and couldn’t find anything
Thanks for the help
Sam

Q: Is tax loss selling strictly a Canadian phenomenon due to tax laws or is it a strategy available in the US as well?

Q: My question is on tax treatment of GIC interest.
Is the interest on a GIC reported only in the year the interest is received; or is the interest pro-rated to that portion allocated to the calendar year, even if not received in that year.
Example - a 1 year annual GIC bought in say July 1, 2018, but not maturing until July 1, 2019. Is the interest to be reported on the 2018 tax filing zero, or is it a half year's worth of interest, even though not yet received in 2018?

Q: If I bought Facebook today in my TSFA, but sold the shares (at a loss) in my taxable cash account tomorrow, would I be able to reap the tax loss in my cash account?

Q: If I sell a stock before year end with, for example, a capital loss of $5000 and have no offsetting capital gains how much of the capital loss can be deducted from my total income for the year ? Thanks, Joe

Q: You had mentioned in an earlier question that DGRO would be needed to be on form 1135. If DGRO was held in a RSP is this still the case?

Q: I have taken a loss on shares which I own of the Stars Group (TSG) in my US investment account. If I sell these shares, and then immediately buy the Stars Group (TSGI) shares for my Canadian investment account, am I still allowed to deduct my tax loss from my US account? In other words, are the US shares (TSG) and the Canadian shares (TSGI) considered unique for the purpose of tax deduction on a loss? Thank you.

Q: A number of members have asked about selling losing stocks to claim the loss and then buying back the same stock after thirty days possibly at the same price. It occurred to me that this could be counterproductive unless I am misunderstanding the impact of this maneuver. For instance, let's say I bought ABC at $100 and its value drops to $80, and I sell ABC to claim the $20 tax loss and, after 30 days buy ABC again at $80 and, sometime in the future sell it at my initial $100 price to gain $20. It seems to me, unless my tax bracket has shrunk substantially, that the tax recovered initially will be paid back on the second sale. Isn't that a losing proposition because one would also have incurred two bank charges on the way? What's the point; am I missing something?

Q: Hi,
In what order would you choose the listed companies to sell for tax loss harvesting.
And would you hesitate to re-purchase any of these in 30 days?
And would now be a good time to sell them? Or would it be better to wait a week or two.
Thanks,
Mike

Q: when is the last day for tax loss selling