Search found 2962 matches

by pmj
25 Mar 2024 11:10
Forum: Community Centre
Topic: Nurse Practitioners / Physician Assistants
Replies: 94
Views: 2675

Re: Nurse Practitioners / Physician Assistants

Researchers went through StatCan data on hours reported by physicians and concluded that " male physicians accounted for 83 per cent of the reduction in physician work hours that occurred between 1987 and 2021."
This kind of statement drives me nuts. What was the percentage of male physicians at the relevant times? If most physicians were male, it's hardly surprising that they'd be behind most of the reduction in work hours. Maybe even 83% of the physicians were male ...
by pmj
23 Mar 2024 08:44
Forum: Under the Mattress: Protecting Your Money
Topic: Currency Exchange
Replies: 78
Views: 6044

Re: Currency Exchange

Mordko, you have confused me, Malaysian currency are ringits and where would Wise transfer the money? As a foreigner, I am not allowed a local bank account. A Wise account can hold money in many currencies, including ringgita. You transfer C$ to your Wise account, then convert C$ to ringgita within Wise, at a relatively low cost. You can use your Wise card, either to withdraw ringgita from an ATM, or as debit card at merchants, if that is common practice there. Or you can allow conversions on a per-transaction basis (no earlier conversion), although probably at a little more cost, particularly for small transactions. One downside is that Wise's ATM cash withdrawal limits are relatively low, without incurring fees at Wise - so the potential...
by pmj
20 Mar 2024 23:23
Forum: Community Centre
Topic: 9 Lessons I’ve Learned About Death and Money
Replies: 14
Views: 701

Re: 9 Lessons I’ve Learned About Death and Money

Yes, Wow.

I'd just read this:
The Fall:
My once-vibrant dad emerged broken from the hospital. Then he was gone.
A longtime health reporter, Elizabeth Payne thought she understood Canada's failing health-care system.
Then her dad fell.
http://epaper.nationalpost.com/article/281500756173091
or
https://nationalpost.com/feature/the-fa ... -was-gone/

.... which mirrors recent experience here.
by pmj
19 Mar 2024 16:31
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Moving US$550k to Canada for home purchase
Replies: 17
Views: 644

Re: Moving US$550k to Canada for home purchase

Adding to the anecdotes, when I made a 6-figure transfer from the UK, it was held up for a "source-of-funds" review, and I had to take the initiative to get it moving again. In the first instance, it's the responsibility of the FI that is "sending", so that's where I started. Once that was sorted, I asked if the "confirmation of source-of-funds" would travel with subsequent transfers, so that subsequent FIs could sign-off without my intervention - and I was advised it would. However, ISTR another call, but memory is hazy. There were no calls from the receiving FI.
by pmj
18 Mar 2024 13:20
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88155

Re: Any questions about CPP?

OptsyEagle wrote: 18 Mar 2024 10:24 Does anyone know how long CPP usually takes between when you submit your application to start receiving benefits and when the 1st payment gets made? Do they require some kind of advance notice?
Be careful that you don't, on the form, request as early as possible (or something like that).

CPP can be back-dated 12 months - and, IME, selecting ASAP will be interpreted as a back-dating request. You'll then get 12 payments as a lump sum, which might mess up your cashflow and tax planning, and will mess up any plan to delay CPP until the latest possible date. OAS the same, except it cannot be claimed before 65.
by pmj
18 Mar 2024 09:54
Forum: Taxing Situations
Topic: Filing T1136 online
Replies: 14
Views: 1129

Re: Filing T1136 online

Waddle wrote: 18 Mar 2024 08:55 Do you need to provide supporting documentation with the t1136 form? In addition to CPP/OAS , I have a Korea teacher's pension and stocks/bonds with a USA broker. Do I need to provide supporting documentation for these two non-canadian sources of income? Thanks
As a general comment on foreign income - not all foreign income sources provide documents similar to those from Canadian-source incomes. We receive UK pensions, which have no supporting documents. I enter the amount received on line 11500 in the Appendix, and that's it.
by pmj
18 Mar 2024 09:47
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88155

Re: Any questions about CPP?

My mom is about to receive her first CPP payment as she turns 70 this month. She's still working now and plans to reduce that to a minimal number of hours after April. She went onto her CPP account online and checked what they counted as her contributions. The amount of contributions for 2023 looks a bit lower than it should be (I assume that will update with her tax return) and there's nothing counted towards 2024 (presumably there's a lag). My question is: Does CPP have a process to adjust her benefit upwards at some point to account for these things? Do we have to ask for that or is this a routine thing for people who work up until they collect? From personal experience of similar circumstances, there will be a series of catch-up adjust...
by pmj
18 Mar 2024 08:08
Forum: Under the Mattress: Protecting Your Money
Topic: Best Credit Card (2021 - 2025)
Replies: 515
Views: 33158

Re: Best Credit Card (2021 - 2025)

"optimize the value" :rofl:
by pmj
13 Mar 2024 08:24
Forum: Taxing Situations
Topic: Small RRSP overcontribution. Do I need to do anything?
Replies: 5
Views: 286

Re: Small RRSP overcontribution. Do I need to do anything?

Marcus Aurelius wrote: 13 Mar 2024 00:14
pmj wrote: 12 Mar 2024 17:34I think you have to _report_ them.
This is technically true, but many people do not report contributions from the first 60 days in the previous year, if they aren't claiming them. We are supposed to report them even if not claiming them, but I have never heard of CRA scolding anyone for just ignoring the contribution slip until the next tax return.
A similar situation can arise with workplace RRSPs where contributions are taken every paycheque, typically every two weeks, so a contribution can easily land right on / just after the deadline. I don't think I ever reported first 60-day workplace contributions, and I never had any comment from CRA.
by pmj
12 Mar 2024 17:34
Forum: Taxing Situations
Topic: Small RRSP overcontribution. Do I need to do anything?
Replies: 5
Views: 286

Re: Small RRSP overcontribution. Do I need to do anything?

IIRC, the contribution year for RRSPs is the calendar year - or has this recently changed?
CRA allows contributions made in the first 60 days to be applied to the previous year, but it's up to you whether you actually claim them. They can just as easily be held back for the present year. I think you have to _report_ them.
by pmj
12 Mar 2024 10:40
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Best High Interest Savings ETF
Replies: 54
Views: 6060

Re: Best High Interest Savings ETF

queerasmoi wrote: 09 Mar 2024 22:36 Seems like different money market ETF websites are all using different-looking metrics which keeps it hard to compare.
ZMMK is reporting Annualized Distribution Yield 5.16% and Current Yield 5.12%.
Easiest place I've found to compare yields is BarChart, which provides a table of monthly "dividends" that goes back for years (duration of the ETF?).
This allows calculations and comparisons based on the most recent month, or one's own preference, rather than some unspecified / average / sum / projected / historic / whatever /
EG:
https://www.barchart.com/etfs-funds/quo ... TO/profile

Edit - I believe you need a free account for more than a small number of views.
by pmj
11 Mar 2024 21:14
Forum: Retirement, Pensions and Peace of Mind
Topic: Single premium immediate annuity (SPIA)
Replies: 95
Views: 3900

Re: Single premium immediate annuity (SPIA)

So if one lives to exactly one's life expectancy, the RoC received to that date would presumably add up to the premium originally paid - and wouldn't be taxable.
What if one continues - would future payments be entirely "income" - and therefore be fully taxable?
by pmj
07 Mar 2024 09:53
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Buying individual stock on US vs CDN exchange
Replies: 6
Views: 322

Re: Buying individual stock on US vs CDN exchange

I can't speak to Cdn depository receipts, but I have experience of EU & GB depository receipts on US exchange - additional fees are levied when dividends are paid out.
by pmj
06 Mar 2024 10:02
Forum: Community Centre
Topic: Nurse Practitioners / Physician Assistants
Replies: 94
Views: 2675

Re: Nurse Practitioners / Physician Assistants

We've been refilling and renewing prescriptions online via the pharmacy for several years now (Pharmasave, Ontario). I usually check if there are any refills remaining, to allow enough time for the pharmacy to contact our GP if a renewal is required - although the system "knows", and tells us there may be a delay.

Pharmasave has just updated its online process. All of our prescriptions are now visible online, including drug data, Dr name, dosage, number of refills, and it sends auto-notifications when prescriptions are ready for pickup.

EDIT - separated the concepts of refills vs renewals
by pmj
05 Mar 2024 17:03
Forum: Community Centre
Topic: Nurse Practitioners / Physician Assistants
Replies: 94
Views: 2675

Re: Nurse Practitioners / Physician Assistants

And if we were allowed access to private medicare, those newly-qualified foreign-trained physicians would be able to provide health care services at no additional cost to the public purse ...
by pmj
05 Mar 2024 08:04
Forum: Retirement, Pensions and Peace of Mind
Topic: Single premium immediate annuity (SPIA)
Replies: 95
Views: 3900

Re: Single premium immediate annuity (SPIA)

Very useful posts detailing the actions and thought processes behind the curtain. Thank you :thumbsup:.
by pmj
04 Mar 2024 14:53
Forum: Community Centre
Topic: Nurse Practitioners / Physician Assistants
Replies: 94
Views: 2675

Re: Nurse Practitioners / Physician Assistants

And it's exacerbated by the sole-practitioner business model of many GPs. Our GP is like that - so when he's on vacation our only option is the walk-in clinic. And when he retires, he'll likely just close his practice. In the UK, our GP was one of four in a group practice. An urgent visit would be handled by whichever one was available. One would be on call at weekends. And the group practice managed the District Nurse and District Midwife services, so all our data was held at one location, and readily accessible. Retiring GPs were replaced by new (younger) GPs, without the need to develop all the processes for a standalone practice. This model is common today - confirmed by my sister just a couple of days ago. ISTM that, given that GPs are...
by pmj
04 Mar 2024 14:32
Forum: Retirement, Pensions and Peace of Mind
Topic: Retirement Countdown: Start of 2025
Replies: 74
Views: 4455

Re: Retirement Countdown: Start of 2025

When I came to Canada in 1983 I was astonished to learn that employers had any ongoing responsibility for employees' pensions. This came to my attention because there was a ?shortfall? with HBC pensions that year ... related to HBC's finances. In the early 80s, in the UK, a major review of pension legislation was underway. In a nutshell, for a company to opt-out of the proposed enhanced govt scheme, it had to provide equivalent guaranteed benefits. This meant that (just about) all company pensions would be hosted at insurance companies, where employer and employee contributions would be locked-in, fully protected from the future performance or misdeeds of the employer, and pensions would be paid out similarly to annuities. My father's pensi...
by pmj
04 Mar 2024 10:29
Forum: Retirement, Pensions and Peace of Mind
Topic: Making contribution into SRRSP
Replies: 18
Views: 646

Re: Making contribution into SRRSP

The separate status of personal & spousal continues when RRSPs are transferred to RRIFs.

So even if they're kept separate during accumulation, it would probably simplify RRIF management (EG minimum withdrawals) if they were combined before transfer.
by pmj
03 Mar 2024 11:38
Forum: Taxing Situations
Topic: Delayed tax statement - MF in a cash account
Replies: 20
Views: 717

Re: Delayed tax statement - MF in a cash account

SQRT wrote: 02 Mar 2024 13:31 I like to calculate my taxes as soon as I can as well. Sometimes file as early as March. This past year with interest rates going higher I also decided to pick up some extra earnings by getting into a TD money market MF. So I’m waiting as well. I know the amounts and have a very good idea of my tax refund. I’ll just wait. MF’s and ETF’s are a little bit of a complication/delay, but thats life.
I'm in a similar position.
For a MMF, isn't it "fairly certain" that the distributions would be all interest? Thus, if one's records were complete, the already-known distribution could be entered either in a T3 format, or as "no-tax-slips" income?
by pmj
25 Feb 2024 18:04
Forum: Financial Planning and Building Portfolios
Topic: Moving from Asset Allocation ETFs to Individual ETFs and Recommendations for Bond ETFs
Replies: 11
Views: 1289

Re: Moving from Asset Allocation ETFs to Individual ETFs and Recommendations for Bond ETFs

Mudcrab wrote: 25 Feb 2024 15:48 PS when you get a chance, for fun have a look at ZLB (low-vol), the dividend is even somewhat lower than VCN, and the long-term performance (and outperformance compared to pretty much any other Canadian fund we own) is outstanding.
Indeed - DGR typically better than 7%, 5-star at Morningstar ... :thumbsup:
by pmj
25 Feb 2024 09:08
Forum: Under the Mattress: Protecting Your Money
Topic: Short Term (6 months) High Interest Rate Options?
Replies: 13
Views: 657

Re: Short Term (6 months) High Interest Rate Options?

Tale a look at TDB8150
TDB2913 is paying close to 5%, vs 4.55% at TDB8150.
by pmj
25 Feb 2024 08:45
Forum: Taxing Situations
Topic: Is withholding tax paid on rrsp withdrawal credited against installment payments?
Replies: 16
Views: 745

Re: Is withholding tax paid on rrsp withdrawal credited against installment payments?

I think the key Q is whether or not CRA has instructed that installments be paid. If there's no CRA instruction, then it seems that paying 100% of taxes due, less $3k, in December would be good enough to avoid installments for the following year. Of course 100% would be an estimate, and you'd have to get it right, or over-estimate, but I'm trying to confirm the principle. If so, this already represents a delay in cashflow compared to regular folks paying their taxes by payroll deductions throughout the year. But if there is a CRA instruction, would paying 100% of _taxes_ due, less $3k, all in December, be sufficient to cancel the instruction obligation? We can be pretty confident that paying 100% of _installments_ due, but delayed to Decemb...
by pmj
24 Feb 2024 15:12
Forum: Under the Mattress: Protecting Your Money
Topic: Bribes from Discount Brokers
Replies: 301
Views: 24264

Re: Bribes from Discount Brokers

hamor wrote: 24 Feb 2024 06:59 What's the easiest way to transfer 25K from another bank?
Thanks
Generally, for moving largish sums between different banks - if you have a line of credit at a bank where you want to receive a payment, you should be able to set the LoC up as a bill payment at ?most? banks. More-or-less as though it was a credit card payment.
by pmj
24 Feb 2024 08:24
Forum: Financial News, Policy and Economics
Topic: Nikkei 225
Replies: 23
Views: 909

Re: Nikkei 225

ghariton wrote: 23 Feb 2024 22:21 I seem to remember that Royal Trust had a couple of mutual funds that mimicked the American and the Asian markets, but using products (derivatives?) that qualified as Canadian content. Using these, it was possible to be 100% foreign within an RRSP.
Canada Trust (pre TD) also had one - Ameritrade IIRC. A neat solution.