Search found 3930 matches

by patriot1
25 Mar 2024 09:08
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: VCIP (bonds) - why so awful?
Replies: 15
Views: 416

Re: VCIP (bonds) - why so awful?

agraham wrote: 25 Mar 2024 04:09 Bond funds would continue to post low returns until the low-yield bonds were flushed out and replaced with high-yield ones I would think.
Does that logic make sense, or has the piper been fully paid for the current rate regime in some way?
The piper has already been paid because the market value of all the holdings has adjusted to the current rates. In other words, you're going to get the same YTM (other factors such as credit quality being equal) on all the holdings going forward.
by patriot1
25 Mar 2024 09:05
Forum: Taxing Situations
Topic: Attribution of Contributions from Joint Bank Account
Replies: 22
Views: 463

Re: Attribution of Contributions from Joint Bank Account

Its my understanding that there is no attribution issue for RRSP or TSFA contributions unless they are subsequently withdrawn and used to purchase taxable investments.
by patriot1
21 Mar 2024 13:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Anyone know a Canadian (best) or us residential or condo REIT yielding 6% or more?
Replies: 14
Views: 1212

Re: Anyone know a Canadian (best) or us residential or condo REIT yielding 6% or more?

Well yes because income is net of depreciation, which results in payout of ROC as Arby pointed out.

If you really mean payout greater than net cash flow, I don't think it happens with REITs, although I think it sometimes does with dividend paying corporations.
by patriot1
17 Mar 2024 08:21
Forum: Community Centre
Topic: Canadian Universities Finances
Replies: 11
Views: 617

Re: Canadian Universities Finances

The international student cap is per province and it's up to provincial authorities to allocate it among post-secondary institutions. One would assume it should be allocated to the most credible institutions but this is not a given.
by patriot1
16 Mar 2024 07:53
Forum: Community Centre
Topic: Canadian Universities Finances
Replies: 11
Views: 617

Re: Canadian Universities Finances

That 29% figure is from an interview in Macleans with the president of Bishop's in Sherbrooke, and refers to that university alone. Over the last 10 years, about 29 per cent of our students have come from other provinces. That is by far the highest proportion of out-of-province students in all Quebec universities. For comparison: 20 per cent of McGill students and 10 per cent of Concordia students come from elsewhere. https://macleans.ca/education/quebec-university-tuition-increase/ I would expect the % of out of province students at the French language universities to be far lower. Regarding the recent student visa cap, Quebec's per capita international student enrolment is only half the Canadian average, so the cap is essentially moot for...
by patriot1
12 Mar 2024 18:05
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?

The date may be incorrect, but there's no need for CIBC to fix it. A contribution during the first 60 days of 2024 may be applied against either 2023 or 2024 or split among both. it could be dated January 1 for that matter.

Edit: previous post correctly notes that you report on 2023 return.
by patriot1
08 Mar 2024 08:35
Forum: Financial News, Policy and Economics
Topic: Clippings 2024
Replies: 129
Views: 10331

Re: Clippings 2024

f the British government is trying to steer more domestic investors back into unloved UK stocks, it has a mammoth task on its hands given the scale of the desertion over recent years. In his budget speech this week, finance minister Jeremy Hunt unveiled a new "UK ISA", or Individual Savings Account, that allows individuals to invest 5,000 pounds ($6,403) tax-free in UK equities annually, in addition to the 20,000 pounds allowed under existing tax-free ISA schemes. Hunt reckoned this meant that "British savers can benefit from the growth of the most promising UK businesses as well as supporting them with the capital to help them expand". Downplaying the impact of the tweak, many experts reckoned the added incentive to st...
by patriot1
02 Mar 2024 06:59
Forum: Taxing Situations
Topic: Are MERs tax deductible expenses?
Replies: 16
Views: 1001

Re: Are MERs tax deductible expenses?

The fact is, there is no advantage to investors whether the management fee is charged within a fund or billed outside of a private investment account, except in rare circumstances
I wouldn't say that. If a fund's income is dividends, for example, you are losing part of the dividend tax credit if the fund managers take their expenses out of the income before paying the distribution to you. You are better off taking the full income as a distribution and paying the management fee, which is deductible from your total income, directly. This is available for James Hymas' preferred fund, for example, but as far as I know not for common mutual funds or ETFs.
by patriot1
21 Feb 2024 10:37
Forum: Under the Mattress: Protecting Your Money
Topic: Bribes from Discount Brokers
Replies: 301
Views: 24264

Re: Bribes from Discount Brokers

Bylo Selhi wrote: 20 Feb 2024 18:01 Here's a new one in more ways than one. A bribe from TDDI to existing customers to bring more assets in.
Thanks for the heads up Bylo. Good thing I haven't made my 2024 RRSP/TFSA contributions yet. :mrgreen:
by patriot1
16 Feb 2024 07:21
Forum: Community Centre
Topic: Mini Computer
Replies: 19
Views: 1467

Re: Mini Computer

For me it's always been something like a PDP-11, but I guess that's showing my age. :lol:
by patriot1
07 Feb 2024 13:01
Forum: Retirement, Pensions and Peace of Mind
Topic: Delaying CPP till 70 but working part time - mistake?
Replies: 5
Views: 684

Re: Delaying CPP till 70 but working part time - mistake?

Working past 65 extends the number of dropout years. So any year past 65 where your contributions exceed (relative to YMPE) a previous year will increase your base benefit (i.e. before the adjustment for delaying the benefits). It's not going to decrease your base benefit in any scenario.

On the other hand if you're not making more than a previous year (after the standard 8 year dropout) you're not getting anything out of the post-65 contributions. If your new contributions aren't significantly more you won't get much out of them and you might consider the election as noted above.
by patriot1
04 Feb 2024 11:12
Forum: Taxing Situations
Topic: Dental (Medical) Expenses: First Time Submission
Replies: 24
Views: 1107

Re: Dental (Medical) Expenses: First Time Submission

Medical expenses can be claimed by either spouse, but there's usually a larger credit if claimed by the lower income spouse. I believe that's what the last item is about. Can't comment on the rest as I don't use TurboTax.
by patriot1
28 Jan 2024 15:37
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Principal residence questions
Replies: 20
Views: 1303

Re: Principal residence questions

SQRT wrote: 28 Jan 2024 14:08 Each year he is a Canadian taxpayer he can elect a principal residence exemption.
Yes but the point is that you can have only one of them at a time, and up to now that's been House A. When House B becomes his principal residence, that's a deemed disposition of this property. As I said there might be a way to defer the tax on the gain but not to make it go away.
by patriot1
28 Jan 2024 13:57
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: Principal residence questions
Replies: 20
Views: 1303

Re: Principal residence questions

He will still be on the hook for the capital gain on house B from the time he bought it to the time it became his principal residence. I think there might be the possibility of deferring this until it's sold or ceases to be the principal residence, though.
by patriot1
24 Jan 2024 21:33
Forum: Community Centre
Topic: Home internet providers - 2024
Replies: 20
Views: 1815

Re: Home internet providers - 2024

I've had 6 Mbps ADSL for a long time and have no issues with a single Netflix, YouTube, Zoom, or what have you. However I'm planning to upgrade to 25 Mbps to speed up downloads/uploads and handle potential multiple streaming.

Note you can't really do a direct compare of ADSL versus cable because the latter can have contention issues.
by patriot1
24 Jan 2024 12:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: What is the value of your TFSA today
Replies: 24
Views: 1819

Re: What is the value of your TFSA today

125k to 150k, fully contributed except for 2024 amount.

About 60% MM and fixed income although I did score a big win buying an REIT during the Covid bust, which has since doubled.
by patriot1
23 Jan 2024 07:46
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: house fire in home I hold a mortgage on
Replies: 10
Views: 1018

Re: house fire in home I hold a mortgage on

It's the owner who's paid for the insurance and suffered a loss, not the mortgage lender.

I do understand that the lender has an interest in the value of the property but lets not talk as though the lender is the insured party.
by patriot1
19 Jan 2024 19:19
Forum: Taxing Situations
Topic: Multi-generational home (tax reporting?)
Replies: 7
Views: 533

Re: Multi-generational home (tax reporting?)

ISTM that if you and your spouse are the only owners of the property it's a non-arms-length rental according to CRA. You can call the payment what you want, but if you own and they don't it's rent.

CRA has reporting requirements for such a rental. It appears the usual expenses are deductible but you can't claim an operating loss as opposed to an arms-length rental.

But I'm not a tax expert.

https://www.canada.ca/en/revenue-agency ... ncome.html
by patriot1
24 Dec 2023 19:51
Forum: Community Centre
Topic: Merry Christmas!
Replies: 32
Views: 1959

Re: Merry Christmas!

Merry Christmas everyone! Hope Santa remembers you!
by patriot1
15 Dec 2023 07:50
Forum: Taxing Situations
Topic: taxation for 2 jobs
Replies: 10
Views: 734

Re: taxation for 2 jobs

Seems to me that if someone is only earning $42K/year total there won't be an overpayment by any party. If the total exceeds YMPE on the other hand, yes that's likely.
by patriot1
14 Dec 2023 20:16
Forum: Taxing Situations
Topic: taxation for 2 jobs
Replies: 10
Views: 734

Re: taxation for 2 jobs

The tax system is progressive, i.e. someone making $42K is going to pay more than twice as much tax as someone making $21K. If the TD1 form you filed with each employer only includes the income at that particular job, you are likely to come up short at filing time. If so you can update your TD1 forms with your total income which will increase withholding for the 2024 tax year.
by patriot1
06 Dec 2023 16:37
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: borrowing against home to invest
Replies: 10
Views: 1155

Re: borrowing against home to invest

dwarren wrote: 06 Dec 2023 14:00 If cash isn't an option and the couple need to borrow to get the new house, then the plan has it's merits. The mortgage is tax deductible
For a deductible mortgage they would have to sell the investments, buy the house with the proceeds, and then take out a mortgage to rebuy the investments. There is no way to get interest deductibility without first selling the investments. Interest is only deductible if the money is borrowed to buy a taxable investment.

My own view is that nobody 70+ should be taking on six figures of debt regardless.
by patriot1
19 Oct 2023 16:36
Forum: Retirement, Pensions and Peace of Mind
Topic: Alberta to exit CPP?
Replies: 48
Views: 2886

Re: Alberta to exit CPP?

CPP was not imposed on Alberta or any other province. Every province had the opportunity to opt out and only Quebec did. QPP never received any assets from CPP.

CPP treats every worker equally regardless of which of the 9 provinces they work and live in. It's not a scheme to redistribute income. However if some provinces get more than their share of retirees (e.g. BC) and some less (e.g. Alberta), a superficial look at the numbers may result in an unthinking observer getting the impression that CPP favours some provinces over others.