Search found 224 matches

by squid
19 Feb 2022 04:17
Forum: Financial Planning and Building Portfolios
Topic: Very First Time -Portfolio-looking for advice, opinion
Replies: 14
Views: 15684

Re: Very First Time -Portfolio-looking for advice, opinion

It might depend on your investment stage. If you are buying small amounts monthly, so many funds gets unwieldly, and expensive (unless your brokerage allows free trades in them). You might look at what trading fees will look like.
by squid
01 Feb 2021 21:10
Forum: Under the Mattress: Protecting Your Money
Topic: Another scam, eh?
Replies: 87
Views: 11890

Re: Another scam, eh?

Threatening letters filled with white powder a Bitcoin scam: Coquitlam RCMP
Coquitlam RCMP believes a letter being mailed to Coquitlam and Port Coquitlam residents and threatening death if Bitcoin isn't sent via a QR code is a scam as it seems to be mass produced and is being sent to multiple addresses, with all letters appearing identical
https://www.tricitynews.com/local-news/ ... mp-3312713
by squid
31 Jan 2021 19:20
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Play money
Replies: 180
Views: 78951

Re: Play money

ghariton wrote: 30 Jan 2021 23:24 I blew it. I was about to use my sale of PSCH to buy Ericsson. You know, the 5 G thing. I personally think that 5 G is overhyped, but in the short run it is a great momentum play. Especially now that they have successfully sidelined Huawei.

But Ericsson announced blowout earnings and the stock increased by 7.2% yesterday. Too late.

What else? I love a good story, rather than good numbers...

George
I'm thinking of something to do with air filtration/purification. Maybe offices and malls will get their HVAC upgraded after this Covid scare?
by squid
23 Feb 2018 15:50
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2018
Replies: 450
Views: 35911

Re: Housing Market 2018

Sorry, China seized the insurer to stop the insurer from crashing.
by squid
23 Feb 2018 15:31
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2018
Replies: 450
Views: 35911

Re: Housing Market 2018

https://betterdwelling.com/chinese-gove ... al-estate/

China has taken over a Chinese insurer that was taking in cash at 8% short-term to buy RE around the world and in Canada in order to avert a crash.
by squid
19 Jan 2018 15:48
Forum: Taxing Situations
Topic: Capital gains on principle residence
Replies: 12
Views: 788

Re: Capital gains on principle residence

If you sell (assuming 50/50 ownership) their status does not impact on your 50% share and there is no tax owed by you. Your parents will pay tax on their 50% share, however. If they gift their 50% to you, it will be a deemed disposition and they will pay tax on the assessed FMV.
by squid
18 Jan 2018 20:03
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2018
Replies: 450
Views: 35911

Re: Housing Market 2018

I thought new BC Attorney General David Eby's speech to UBC law published in The Georgia Straight was equally enlightening:

https://www.straight.com/news/1018756/d ... address-bc
by squid
03 Jan 2018 20:39
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Seeking Insights/Opinions on Rent vs Buy Scenario
Replies: 65
Views: 9355

Re: Seeking Insights/Opinions on Rent vs Buy Scenario

Same boat as you. Just so you know, the NDP has changed the Tenancy act and the lease end vacate clause is null and void. You will be able to go month to month.

They also have to have cause to enact the two month end of tenancy, with permits issued by the city.

https://www.ctvnews.ca/business/b-c-mov ... -1.3651101

https://www2.gov.bc.ca/gov/content/hous ... ncies/news

https://www2.gov.bc.ca/gov/content/hous ... nth-notice
by squid
03 Jan 2018 19:04
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1278
Views: 198062

Re: BMO Investorline

In regards to #2. I go to a branch and withdraw the USD (free twice a month) and take the USD to deposit into my USD savings account.

(I have since transferred to BMO and now can transfer from my BMOIL USD accountlink to my BMO USD savings account online and free twice a month. And can phone and have my BMO USD transferred to Harris USD account too if a true USD chequing account is needed).
by squid
03 Jan 2018 18:46
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Market 2018
Replies: 450
Views: 35911

Re: Housing Bust 2018

ig17 wrote: 02 Jan 2018 18:19 "Housing Bust 2018" is beyond self-parody at this point.

A friendly suggestion to the Moderator: can we rename this thread "Housing Market 2018"? To express a neutral sentiment. Not a bubble, not a bust.

Good suggestion. Done
Moderator W
Pretty sure this is some kind of signal :lol:
by squid
28 Apr 2017 13:14
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Home Capital Group (Symbol-HCG) [Delisted 31-Aug-2023]
Replies: 279
Views: 25109

Re: Home Capital Group (Symbol-HCG) [Delisted 31-Aug-2023]

From the point of view of a mortgagor with HCG, what are the chances of renewal with HCG or another sub-prime lender? If a big 5 takes over the book, will the mortgage renew automatically or will it be necessary to requalify under CMHC guidelines?
by squid
25 Mar 2017 13:39
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2017
Replies: 342
Views: 28749

Re: Housing Bust 2017

Is this going to be the start of the crash now that the government is getting strict, and tightening reporting? http://www.theprovince.com/news/local+news/house+buyer+beware+landmark+court+ruling+will+shake+real/13187081/story.html The landmark B.C. decision requires notary public Tony Liu to pay his client more than $600,000 because Liu failed to adequately determine whether the Vancouver house his client was buying for $5.5 million had been owned by a tax resident of Canada. Also: http://www.cra-arc.gc.ca/gncy/bdgt/2016/qa11-eng.html Starting with the 2016 tax year, individuals who sell their principal residence will have to report the sale on Schedule 3, Capital Gains of the T1 Income Tax and Benefit Return. Reporting will be required fo...
by squid
08 Oct 2016 02:16
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

Well, form T2091(IND) (Designation of a Property as a Principal Residence by an Individual (Other Than a Personal Trust)) does have a space for SIN. Just that you never had to fill it out if you thought the house was fully tax exempt. Now everyone has to fill it out, including date of acquisition, price, etc.

It won't be so easy to feign ignorance, and you will be signing for its veracity. Maybe this will need to be filled at the lawyers so that proper withholding tax can be retained (it is the duty of the purchaser to withhold proper tax)?
by squid
08 Oct 2016 02:05
Forum: Financial Planning and Building Portfolios
Topic: VFV-T vs VTI-N
Replies: 12
Views: 2251

Re: VFV-T vs VTI-N

Would holding VTI-N have any US estate tax implications?
by squid
06 Oct 2016 15:44
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

I could sell all the properties and without some way to track those properties to me, how does CRA claim their due if I don't declare them.
Wouldn't CRA just cross reference their list of sold properties with the properties declared on tax returns (now that it is mandatory). Any property sale not declared on tax returns can now be more easily audited.
by squid
04 Oct 2016 11:18
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

gobsmack wrote: It does not look like the announced changes will make the task any easier so I don't see how they can be effective.
I believe I read that home sales were now to be reported on the annual tax return regardless of tax status, and that the provinces would submit sales info to CRA for cross-reference.
by squid
13 Sep 2016 19:06
Forum: Financial News, Policy and Economics
Topic: RESP's should be indexed
Replies: 25
Views: 1931

Re: RESP's should be indexed

gaspr wrote:
squid wrote:My feelings from the new government is they prefer grants to low income students, over incentives that are used mostly by the higher earners. I doubt they would be game to increase it.

Look what they did to the child sports and arts tax credits:

http://www.cbc.ca/news/canada/nova-scot ... -1.3504248

An inflation adjustment is not an increase....doing nothing is a decrease.
Thanks for the lesson on inflation. It is more likely, given LPC policy, that RESP limits and grants will be decreased and funds be diverted to income based bursary programs.
by squid
13 Sep 2016 16:01
Forum: Financial News, Policy and Economics
Topic: RESP's should be indexed
Replies: 25
Views: 1931

Re: RESP's should be indexed

My feelings from the new government is they prefer grants to low income students, over incentives that are used mostly by the higher earners. I doubt they would be game to increase it.

Look what they did to the child sports and arts tax credits:

http://www.cbc.ca/news/canada/nova-scot ... -1.3504248
by squid
11 Sep 2016 13:09
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

twa2w wrote:
adrian2 wrote:
gobsmack wrote:I assume they do because I imagine these "investors" need at least a SIN number in order to get a mortgage.
A bank is not legally allowed to ask you for a SIN when applying for a mortgage. SIN disclosure is required only when you open something that earns you interest (chequing / savings / GIC / mutual funds etc).
Well the bank can ask for a SIN, they just can't insist on it.
No doubt this Gu guy has several mortgage broker specialists who will do anything for his stream of business, little questions asked.
by squid
10 Sep 2016 14:22
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

patriot1 wrote:
gobsmack wrote:And the decision of staying put does not come cheap given the rising property taxes.
Quite the contrary, BC government policies make the decision come cheap...
Residential property tax rate (total including city and school) in City of Vancouver is 0.32%, which must be the lowest for any major city in North America...
Agreed. Vancouver tax rates are very low. The city is allowed to fund Translink with property taxes without any plebiscite needed, but that was political suicide to raise the rates so they tried to implement a sales tax.

As well, Mayor Gregor constantly milks rezoning and construction charges and fees to keep taxes low, and fund his grandiose schemes. A very poorly run system.
by squid
10 Sep 2016 14:17
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

Interesting article on tax fraud in the Vancouver RE market.

http://www.theglobeandmail.com/real-est ... e31802994/
Kathy Tomlinson reveals how loopholes and lax oversight are making it easy for a network of local and foreign speculators to play the system, and, in the process, fuel the steep rise in Vancouver home prices
by squid
08 Sep 2016 14:41
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

AltaRed wrote:There has been a significant implied MER buried in that such that the net gain is much less. That MER is made up of maintenance, upgrades, taxes, insurance, etc.
True, but there is also a significant implied yield (rent) too that would balloon that amount.
by squid
26 Aug 2016 16:19
Forum: Financial News, Policy and Economics
Topic: Clippings 2016
Replies: 189
Views: 19558

Re: Clippings 2016

longinvest wrote: They want to play musical chairs with them. Interesting.
Actually, literally, no interest at all! :D
by squid
26 Jul 2016 20:30
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

patriot1 wrote:
squid wrote:Foreign buyers account for 10% of Metro Vancouver real estate transactions in 5 weeks, government says.
No, that's % of total value. % of transactions is lower because the properties they buy are more expensive on average.
That was the title that I copy/pasted. Thanks for the correction. Maybe they need to hire you at the CBC :)
by squid
26 Jul 2016 17:05
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Housing Bust 2016
Replies: 641
Views: 41937

Re: Housing Bust 2016

Foreign buyers account for 10% of Metro Vancouver real estate transactions in 5 weeks, government says:

http://www.cbc.ca/news/canada/british-c ... -1.3695439
Foreign buyers spent more than $885 million on Metro Vancouver real estate in just five weeks, according to new data released by the B.C. government on Tuesday.

The money represents about 10 per cent of the value of all real estate purchased in the region over that span, the government said.
Remember, that doesn't include recent immigrants who have their PR.