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by adrian2
30 Mar 2017 18:50
Forum: Financial News, Policy and Economics
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 137
Views: 1241

Re: CPP Deferral debate - Fred Vettese article discussion

I feel like another good reason to take CPP early is if there's a big crash in the market. It would reduce the amount you need to draw from the damaged portfolio, lessening sequence of returns risk and allowing it a chance to recover. Yes, that's an excellent reason, particularly if you have a mode...
by adrian2
30 Mar 2017 13:08
Forum: Financial Planning and Building Portfolios
Topic: Hold non Canadian securities in reg or non reg account?
Replies: 14
Views: 267

Re: Hold non Canadian securities in reg or non reg account?

OK, so, I see the logic in the math re the RSP, but I'm struggling with the concept of an apples to apples comparison. My tax rate won't likely change from here out, so I just view the RSP as a future tax liability. Lets view the 2 accounts on a go forward basis. That being the case, the non RSP ac...
by adrian2
30 Mar 2017 11:10
Forum: Financial Planning and Building Portfolios
Topic: Hold non Canadian securities in reg or non reg account?
Replies: 14
Views: 267

Re: Hold non Canadian securities in reg or non reg account?

tony767p wrote:
30 Mar 2017 10:56
The last sentence refers to the capital gain portion of the RSP - I don't know how to edit a post after it's submitted - sorry.
You just click on the "pencil" icon to the right of your post.
by adrian2
30 Mar 2017 11:07
Forum: Financial Planning and Building Portfolios
Topic: Hold non Canadian securities in reg or non reg account?
Replies: 14
Views: 267

Re: Hold non Canadian securities in reg or non reg account?

OP seems to be adhering to the fallacy that after tax return on capital gains is higher outside the RRSP than inside. The opposite is true, except for some pathological cases. Remember that RRSP holdings are bought with untaxed income. "After tax return on capital gains" is higher inside the RRSP? ...
by adrian2
30 Mar 2017 10:02
Forum: Taxing Situations
Topic: Claiming educational expenses of a student.
Replies: 11
Views: 466

Re: Claiming educational expenses of a student.

Provincial amounts are less than Federal amounts; one generally runs out of provincial amounts faster than Federal That's why I suggested double checking CRA My Account >> Tax returns >> Carryover amounts >> Provincial Tuition, Education and Textbook Amounts to make sure the amounts were entered an...
by adrian2
30 Mar 2017 09:20
Forum: Taxing Situations
Topic: Claiming educational expenses of a student.
Replies: 11
Views: 466

Re: Claiming educational expenses of a student.

Well I see that option but on daughter's 2015 carry forward from Ufile there is only one box with $10,500 in it Provincial box is empty and on Daughters Notice of Assessment it says she has unused Federal Tuition, education and textbook amounts of $10,500 with no mention of Provincial credits. Have...
by adrian2
29 Mar 2017 23:44
Forum: Taxing Situations
Topic: Claiming educational expenses of a student.
Replies: 11
Views: 466

Re: Claiming educational expenses of a student.

BRIAN5000 wrote:
29 Mar 2017 23:02
Am I getting close? :roll:
Yes. Keep in mind there's a different amount for the provincial credit, too.
by adrian2
29 Mar 2017 17:59
Forum: Financial News, Policy and Economics
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 137
Views: 1241

Re: CPP Deferral debate - Fred Vettese article discussion

You may be confusing strategy with outcome. I'm not sure I'm interpreting you properly. But if the point is that I accepted higher risk by investing in VTI than by leaving the money in the CPP, that's quite correct. What I meant is that you could not have known the outcome, ex-ante, with any degree...
by adrian2
29 Mar 2017 08:55
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Starting To Invest; *(Transferred TFSA to Questrade)
Replies: 9
Views: 210

Re: Starting To Invest; *(Transferred TFSA to Questrade)

doom_diver wrote:
28 Mar 2017 18:26
From my understanding as well I can't purchase American Stocks into a TFSA otherwise it complicated the TFSA *(And isn't tax free when it is American)
You can purchase US-listed stocks in a TFSA and any gains / income from them are tax free in a TFSA.
by adrian2
29 Mar 2017 08:51
Forum: Financial News, Policy and Economics
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 137
Views: 1241

Re: CPP Deferral debate - Fred Vettese article discussion

I took CPP at age 60, ten years ago. Since I haven't needed the money to live on (I'm still working part time), I have invested the monthly payments in VTI. That means I've been getting a return of somewhere north of nine per cent (seven per cent real, or thereabouts). If I had been able to delay t...
by adrian2
29 Mar 2017 08:48
Forum: Retirement, Pensions and Peace of Mind
Topic: retiring early at 50 - defined benefit pension
Replies: 27
Views: 711

Re: retiring early at 50 - defined benefit pension

One thing I would chime in: IMHO, many people overestimate the value of continuing health benefits. I live in Ontario, so at 65 years of age, Ontario Drug Benefits kicks in, covering all medication with a $100 annual deductible. In the years of early retirement before 65, one could just grin and bea...
by adrian2
28 Mar 2017 21:35
Forum: Retirement, Pensions and Peace of Mind
Topic: retiring early at 50 - defined benefit pension
Replies: 27
Views: 711

Re: retiring early at 50 - defined benefit pension

I realize the other 2 members said something about "new users" bypassing the forum. For me, its about trying to get a good assessment of my situation by someone who is in a similar boat... but not posting some of the financial details on the open forum. I realize i can use more broad info if needed...
by adrian2
28 Mar 2017 14:27
Forum: Retirement, Pensions and Peace of Mind
Topic: retiring early at 50 - defined benefit pension
Replies: 27
Views: 711

Re: retiring early at 50 - defined benefit pension

If you have any questions you need answered, I can post an email link that you can reach me at. (hopefully you got pm results already) Just a general comment, to the OP as well. It leaves me with a bitter taste in my mouth seeing two fresh members trying to bypass the conversation nature of this fo...
by adrian2
27 Mar 2017 14:47
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

InvestorNewb wrote:
27 Mar 2017 14:30
Also: I feel that if I put 0 in the box that says "First 60 days of 2017" that CRA won't carry this amount over when I file my 2017 return.
Absolutely.
by adrian2
27 Mar 2017 14:46
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

I do not believe so. UFile is clear that you only record Jan-Feb 2017 contributions that are meant to go towards the 2016 tax year. Then UFile is a bad piece of software which does not cater for a scenario that may not be the most common, but is still a very normal one (likely the majority scenario...
by adrian2
27 Mar 2017 14:07
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

The UFile RRSP/PRPP/VRSP form doesn't bother the taxpayer with irrelevant data entries :wink: :P IOW, it matters not to 2016 taxes what the taxpayer does towards 2017 taxes (such as a first 60 day 2017 RRSP contribution towards a 2017 deduction). http://www.taxtips.ca/filing/rrspnotclaimed.htm It i...
by adrian2
27 Mar 2017 12:56
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

AltaRed wrote:
27 Mar 2017 12:38
If you have indeed made a further $10000 in contribution in 2017 towards a 2017 deduction.... there is actually no place on the UFile data entry form to actually put that information.
In TurboTax, Schedule 7 would have to be filled out, via another screen called RRSP Worksheet.
by adrian2
27 Mar 2017 12:31
Forum: Under the Mattress: Protecting Your Money
Topic: US Cash Alternatives
Replies: 14
Views: 447

Re: US Cash Alternatives

CIBC US$ money market at 1% RBC US$ money market at 0.81% The yield numbers from Fund Library don't appear to be accurate. The Fund Library links show a yield in $ rather than %. For CIB483, Fund Library shows a yield of $0.9994 on Mar 24 2017. That number doesn't make any sense. I agree that the c...
by adrian2
27 Mar 2017 11:49
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

gobsmack wrote:
27 Mar 2017 11:42
Oops... sorry for the bad advice then. I will take a 2nd stab: If you go all the way to the end, ufile will generate a PDF with your tax forms. Perhaps if you check out the numbers as they are being reported in the final PDF, you will figure out what went wrong.
:thumbsup:
by adrian2
27 Mar 2017 11:32
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

InvestorNewb wrote:
27 Mar 2017 09:24
Does anyone else see any issues? I plan on filing soon.
TurboTax can handle these scenarios easily. I have no experience with uFile.
by adrian2
27 Mar 2017 11:30
Forum: Taxing Situations
Topic: Does this screen look right to you? (RSP Contribution)
Replies: 20
Views: 408

Re: Does this screen look right to you? (RSP Contribution)

gobsmack wrote:
25 Mar 2017 10:02
InvestorNewb wrote:
25 Mar 2017 09:38
- In January 2017, I made an RSP contribution of $10,000 which I will deduct next year.
I think you should not be telling ufile about this one. I think you should only be adding to ufile the deductions you are planning to use in the current tax year.
That's definitely bad advice.
by adrian2
26 Mar 2017 17:51
Forum: Under the Mattress: Protecting Your Money
Topic: US Cash Alternatives
Replies: 14
Views: 447

Re: US Cash Alternatives

Arby wrote:
26 Mar 2017 16:47
Thanks Adrian. Your suggestions look much better than TDDI's fund. I'll check tomorrow whether there is any purchase/redemption fee if these funds are bought through TDDI.
Both of them are money market; there are no fees and no minimum holding periods at TDDI.
by adrian2
26 Mar 2017 13:10
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Interactive Brokers
Replies: 502
Views: 87551

Re: Interactive Brokers

DenisD wrote:
26 Mar 2017 12:22
Yes I have a margin account. I don't borrow in my account.
In that case, it is illegal for the broker to lend your securities.
by adrian2
26 Mar 2017 13:09
Forum: Financial News, Policy and Economics
Topic: CPP Deferral debate - Fred Vettese article discussion
Replies: 137
Views: 1241

Re: CPP Deferral debate - Fred Vettese article discussion

ghariton wrote:
26 Mar 2017 13:01
I think that your exercise is very clear and very informative. Thank you.
+1!