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by qasimodo
29 Feb 2024 16:42
Forum: Taxing Situations
Topic: New T3 requirements for joint accounts [that might be bare trusts]
Replies: 204
Views: 44395

Re: New T3 requirements for joint accounts [that might be bare trusts]

SQRT wrote: 29 Feb 2024 16:25 Yes. But that’s a fairly small limit. Doesn’t help me.
Sure, but it can be helpful for many parents overseeing childrens bank account or RESP or for adult children manageing elderly parent's chequing account etc
by qasimodo
29 Feb 2024 16:15
Forum: Taxing Situations
Topic: New T3 requirements for joint accounts [that might be bare trusts]
Replies: 204
Views: 44395

Re: New T3 requirements for joint accounts [that might be bare trusts]

SQRT wrote: 29 Feb 2024 11:12
It really seems to me that these joint accounts were caught inadvertently and various lawyers are going to town drumming up new business in order to help hapless Seniors and their kids meet the confusing (it’s taken aver 100 posts in this thread to try to figure it out) requirements?
I find it surprising that the financial press don't point readers to the fact that, among others, registered accounts and accounts <$50000 do not need to file. That likely "pardons" the vast majority of filers who will struggle with this

See #2.2 and #2.3
https://www.canada.ca/en/revenue-agency ... .html#toc2


edit: typo
by qasimodo
16 Jan 2024 14:10
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: TD Direct Investing (was Waterhouse) Service
Replies: 3927
Views: 433378

Re: TD Direct Investing (was Waterhouse) Service

I run on the assumption that they're all the same and the devil you know is better than the one you don't. We have our accounts with TD for over 30 years. A few years ago, as I began to focus on documenting and simplifying our accounts for my heirs, I realized that TD had made a mess out of our corporate bank and investing accounts. Relationships and authorities were crossed, mingled and mangled. For about three years I tried to get these fixed, but actually every time they made a change (a workaround rather than a fix) they made it worse. Years of being bounced from one department to the next, endless reference numbers and explaining the problem and how the previous workaround had made it worse. In the end I decided that once I was gone, ...
by qasimodo
12 Dec 2023 10:03
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: TD Direct Investing (was Waterhouse) Service
Replies: 3927
Views: 433378

Re: TD Direct Investing (was Waterhouse) Service

optionable68 wrote: 12 Dec 2023 09:56 Anyone with experience in TDDI RIF Withdrawals?

We have a family member taking her RIF withdrawal out early today (official withdrawal date Dec 30). She instructed withdrawal on Webbroker this morning, yet no indication withdrawal request went through on activity screen. Is this normal?

When can she expect to see TDDI withdrawal and deposit into TDCT?
From our experience the range is the afternoon of the sameday to a couple of days.
Caveat: this is TDDI so who knows !
by qasimodo
09 Dec 2023 10:25
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2023)
Replies: 1056
Views: 87817

Re: High interest savings, GICs and MMFs (2023)

poedin wrote: 08 Dec 2023 10:33
qasimodo wrote: 08 Dec 2023 08:47
poedin wrote: 01 Dec 2023 15:00 The fund is available to BMOIL clients. Not sure at other brokerages. Am I answering your question?
oops Missed your response
Somehow I can't seem to find it in the "quotes"
Once in BMOIL, you can find BMO95142 via the 'Trade' tab, then 'Mutual Funds' > 'Symbol *'. For current yield requires a phone call. Since I'm also with TDDI, that yield can be found online along with (most?) other MMFs. Hope this helps.
Got it. Thanks

(I tried that in the past and did not get a result. Now that you indicated that it should work, I did it much more slowly and it worked. Thinking back, I may have pasted which does NOT return a result :lol: )
by qasimodo
08 Dec 2023 08:47
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2023)
Replies: 1056
Views: 87817

Re: High interest savings, GICs and MMFs (2023)

poedin wrote: 01 Dec 2023 15:00
qasimodo wrote: 01 Dec 2023 14:00
poedin wrote: 01 Dec 2023 13:14 Current yields on some MMFs:
TDB2913 5.02
BMO95142 5.17
CIB237 5.03
CIB238 5.30
Is there a self directed version of BMO95142?
The fund is available to BMOIL clients. Not sure at other brokerages. Am I answering your question?
oops Missed your response

Somehow I can't seem to find it in the "quotes"
by qasimodo
08 Dec 2023 08:45
Forum: Taxing Situations
Topic: 2023 Estimated and actual non-cash (re-invested) ETF distributions
Replies: 29
Views: 2693

Re: 2023 Estimated and actual non-cash (re-invested) ETF distributions

From my experience (at TDDI) the end of year quarterly / semi-annual are paid out in cash in the first week of January and the phantom appear in the March statement backdated to the beginning of January
by qasimodo
01 Dec 2023 14:00
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2023)
Replies: 1056
Views: 87817

Re: High interest savings, GICs and MMFs (2023)

poedin wrote: 01 Dec 2023 13:14 Current yields on some MMFs:
TDB2913 5.02
BMO95142 5.17
CIB237 5.03
CIB238 5.30
Is there a self directed version of BMO95142?
by qasimodo
05 Oct 2023 09:54
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: TD Direct Investing (was Waterhouse) Service
Replies: 3927
Views: 433378

Re: TD Direct Investing (was Waterhouse) Service

Unwise wrote: 05 Oct 2023 09:37 Did anybody else notice that the ISAs didn't DRIP their monthly interest for September correctly yet? I know there was a holiday on Monday. But would have expected them by yesterday or today at the latest. But still nothing. Haven't bothered calling in yet, figuring it will work itself out. But starting to wonder if it is "just me..."
Have TDB2913 in a handful of accounts. 2 dripped but others have not
by qasimodo
24 Sep 2023 11:47
Forum: Retirement, Pensions and Peace of Mind
Topic: Death planning as POA
Replies: 21
Views: 1553

Re: Death planning as POA

Mudcrab wrote: 24 Sep 2023 11:32 Well, he said all accounts are joint, so it should be possible to avoid probate.

Not sure why liquidation into cash would help for that purpose, though it may be quite helpful for other purposes.
I also have a joint account in a similar situation. As is very common, it was set up to help with the management of the financial affairs for an elderly family member. CRA and financial institutions view that arrangement differently than right of survivorship.
by qasimodo
24 Sep 2023 10:55
Forum: Retirement, Pensions and Peace of Mind
Topic: Death planning as POA
Replies: 21
Views: 1553

Re: Death planning as POA

I am in a somewhat similar situation
SQRT wrote: 24 Sep 2023 06:43 Once everything is in cash or near cash, it may be possible to avoid probate as well.
If the assets remain in MIL name (distribution before death seems fraught with concerns) and held in a Financial Institution, how would that avoid Probate?

SQRT wrote: 24 Sep 2023 06:43 I keep telling my wife that maybe we can let the cash build up but I think she is reluctant to acknowledge her mom’s mortality and has resisted.
I would be wary that an approach focused on pragmatism and efficiency may well trigger emotional responses from family members during a stressful period
by qasimodo
29 Jun 2023 15:50
Forum: Retirement, Pensions and Peace of Mind
Topic: Actual Timeline For Executing an Estate (Ontario)
Replies: 70
Views: 6441

Re: Actual Timeline For Executing an Estate (Ontario)

BadgerBruce wrote: 29 Jun 2023 10:00
...
a relatively small Rif ($7500) in a Scotiabank GIC. Will Scotiabank eventually (I’m waiting for probate letters) transfer the proceeds to TD? Or do I need to deal with both institutions separately until the very end?
Was there a named beneficiary for the RIF?
by qasimodo
27 Apr 2023 14:09
Forum: Under the Mattress: Protecting Your Money
Topic: Telephone scams
Replies: 302
Views: 48614

Re: Telephone scams

Bylo Selhi wrote: 27 Apr 2023 13:49 ...

1. From "TD Canada Trust ATM ‪(888) 751-9000‬."
...
2. From "RBC Royal Bank ‪(800) 769-2511.‬"
...
Are the phone numbers shown above as part of the "Label" the same as the actual number of the call?
If not, when you "call back" you are directed to the "hidden" number.
by qasimodo
04 Apr 2023 14:45
Forum: Taxing Situations
Topic: Taxation of RRIF payment in year of death
Replies: 7
Views: 395

Re: Taxation of RRIF payment in year of death

OptsyEagle wrote: 04 Apr 2023 09:45
qasimodo wrote: 04 Apr 2023 09:02
dwarren wrote: 03 Apr 2023 14:19
If the RIFF is rolled, then only the payments would be included in the income for the year, the rest would roll to the spouse and taxed when they withdraw it.
FYI
When my Father passed, RBC forced a withdrawal (up to the annual minimum payment) into his account before transferring the remainder to the Successor Annuitant
...
Do you recall whose tax return the T4RIF payment went on?
No, I don't recall. (It was almost 10 years ago. I would assume to the deceased's return)
by qasimodo
04 Apr 2023 09:02
Forum: Taxing Situations
Topic: Taxation of RRIF payment in year of death
Replies: 7
Views: 395

Re: Taxation of RRIF payment in year of death

dwarren wrote: 03 Apr 2023 14:19
If the RIFF is rolled, then only the payments would be included in the income for the year, the rest would roll to the spouse and taxed when they withdraw it.
FYI
When my Father passed, RBC forced a withdrawal (up to the annual minimum payment) into his account before transferring the remainder to the Successor Annuitant
by qasimodo
08 Feb 2023 13:45
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2023)
Replies: 1056
Views: 87817

Re: High interest savings, GICs and MMFs (2023)

Oaken is getting a bit more difficult to deal with. I tried to move funds and buy their 5.39% GIC all in one day. I know about the fine print -- gotta have the funds already there, etc. But I've done this before, and they always honored the rate, even if it was ending that day. This time, I got the "Thanks for your application" email, but nothing more -- confirmation or rejection. When I logged in today, the funds were still sitting in savings. Have been trying to get them to correct an error made by their online system on a transaction from the beginning of January. First internal message resulted in an irrelevant canned response. Follow up internal message has gone without a response in 15 days. Email with attached signed lette...
by qasimodo
12 May 2022 15:39
Forum: Under the Mattress: Protecting Your Money
Topic: Estate account without probate?
Replies: 22
Views: 5548

Re: Estate account without probate?

AltaRed wrote: 11 May 2022 17:18 I doubt any bank will deposit a cheque made out to 'Estate of X' to any account other than an Estate account. An Estate account isn't tied to probate in any event per my earlier post. It is simply where non-JTWROS and non-registered assets go upon death.
7 years ago at RBC I deposited a CPP check made out to the "Estate of X" (my father) to his joint (with my mother) account. The only comment were "condolences"
by qasimodo
13 Mar 2022 10:59
Forum: Taxing Situations
Topic: going freelance - incorporation etc.
Replies: 8
Views: 3772

Re: going freelance - incorporation etc.

I second the suggestions above

I do plan to leave some funds in the corporation and use them in retirement or semi-retirement.
Although retirement may be a ways off and you have more immediate concerns, I suggest you have a close look at the TOSI rules*. What you do now and ongoing may impact your future flexibility in retirement.


* Here is a starting point. and then just Google "TOSI"
by qasimodo
10 Mar 2022 08:50
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Dividend and distribution cuts (2022)
Replies: 10
Views: 14898

Re: Dividend and distribution cuts (2022)

NFI Announces Fourth Quarter and Full Year 2021 Results and 2022 Guidance Reflecting supply chain disruption, announced a reduction of quarterly dividend, to $0.0531 per Share, with an opportunity for a subsequent increase based on improved financial performance in 2023. Although management continues to believe that the supply and logistics disruptions affecting NFI are temporary, the Board has taken the prudent decision to lower the quarterly dividend amount. The Board has declared a dividend of C$0.0531 per share for the period January 1, 2022 to March 31, 2022 on the common shares of the Company (the “Shares”). The dividend will be paid to holders of record at the close of business on March 31, 2022 and payable on April 15, 2022. The di...
by qasimodo
10 Mar 2022 08:04
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Dividend and distribution hikes (2022)
Replies: 261
Views: 72509

Re: Dividend and distribution hikes (2022)

PREMIUM BRANDS HOLDINGS CORPORATION REPORTS RECORD FOURTH QUARTER AND 2021 RESULTS, FOUR NEW ACQUISITIONS AND A 10.2% DIVIDEND INCREASE
The Company announced that it will be increasing its quarterly dividend by 10.2% to $0.70 per share or $2.80 per share on an annualized basis. Correspondingly, the Company's Board of Directors approved a cash dividend of $0.70 per share for the first quarter of 2022, which will be payable on April 15, 2022 to shareholders of record at the close of business on March 31, 2022.
by qasimodo
05 Jan 2022 15:18
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: H&R Real Estate Invest. Trust (Symbol-HR.UN)
Replies: 34
Views: 14805

Re: H&R Real Estate Invest. Trust (Symbol-HR.UN)

Arby wrote: 05 Jan 2022 12:23 HR.un is down 17% today on announcing it has completed the plan of arrangement to spin off Primaris shopping malls.
Isn't that in part a reflection of:
The transaction was implemented by way of a statutory plan of arrangement (the "Arrangement") and H&R unitholders received one unit of Primaris for every four units of H&R held immediately prior to closing of the Arrangement.

https://finance.yahoo.com/news/h-r-reit ... 00030.html
by qasimodo
24 Dec 2021 15:57
Forum: Retirement, Pensions and Peace of Mind
Topic: Preparing a will - considerations and how to get it done
Replies: 16
Views: 2332

Re: Preparing a will - considerations and how to get it done

AltaRed wrote: 24 Dec 2021 14:09
I have heard of difficulties accessing SD boxes upon death of the holder so that would be the last place I'd put them.
For that reason my parents' will is in my SD box (I am executor).
My will is in the SD box of my eldest offspring (my executor)
by qasimodo
07 Dec 2021 07:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Dividend and distribution hikes (2021)
Replies: 241
Views: 82389

Re: Dividend and distribution hikes (2021)

Enbridge Announces 2022 Financial Guidance, Increases Dividend, and Provides Update on Strategic Priorities
The Company declared its 27th consecutive annual common share dividend increase, raising it by 3% to $0.86/quarter ($3.44 annually), effective March 1, 2022