This is probably an AccountLink problem. I can move (settled) money either way instantaneously. Mind you, I have a margin account, not a cash account, which facilitates moving funds on settlement day, i.e. I can order cash moved from the margin account to the bank early on settlement day, because I know that (a) I have plenty of excess margin, (b) the outflow will be covered by the settling cash by end of day and (c) the bank will credit the transfer immediately even though I expect it all occurs at the end of the day anyway.
As to settlement, it's end of business on T+2. I'm not exactly sure what time that is, but I'm 100% certain it's not 9 a.m.
Search found 6345 matches
- 25 Mar 2024 12:31
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Moving money out of BMO InvestorLine is slow
- Replies: 12
- Views: 357
- 23 Mar 2024 18:44
- Forum: Financial Planning and Building Portfolios
- Topic: Investing with a Ten Year Horizon under 2024's Market Valuation
- Replies: 39
- Views: 1190
Re: Investing with a Ten Year Horizon under 2024's Market Valuation
All animals are pattern matchers. It's an evolutionary strategy. That ripple in the long grass? 900 times it's the wind. 99 times it's a rabbit. Once it's a tiger. You want to eat? You have to play the odds.
Mind, though, if you have eating sewed up already, you don't have to play at all.
As to the graphs, you've got 120+ data points there. Should be enough to develop a trading strategy on, say, the first half or 2/3 of the sample, and see how it works out with the out of sample data. Let us know how it goes relative to buy and hold, i.e. grit your teeth and bear it.
Mind, though, if you have eating sewed up already, you don't have to play at all.
As to the graphs, you've got 120+ data points there. Should be enough to develop a trading strategy on, say, the first half or 2/3 of the sample, and see how it works out with the out of sample data. Let us know how it goes relative to buy and hold, i.e. grit your teeth and bear it.
- 23 Mar 2024 18:24
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: Housing Market 2024
- Replies: 56
- Views: 3418
Re: Housing Market 2024
Why?randomwalker wrote: ↑23 Mar 2024 16:57 I would propose a tax regime that would make investment ownership of dwellings clearly built as single family family homes and condominiums so unpalatable as rental properties that owner/ landlords would put them up for sale so as to be purchase by owner occupiers.
- 23 Mar 2024 18:05
- Forum: Community Centre
- Topic: Printers
- Replies: 21
- Views: 488
Re: Printers
The inventor of the technology was Gary Starkweather at Xerox (PARC). His work predates Canon's by half a decade AFAIK. Kudos to Canon for the engineering sufficient to turn it into a mass market product with reasonable MTBF. But Xerox deserves a mention.Bylo Selhi wrote: ↑23 Mar 2024 08:08 Phun pfact: Although HP is generally credited with popularizing laser printers, the inventor of the technology was actually Canon.
I use an HP 2430dtn (and have a spare). Manufactured in 2006 IIRC. Hundreds of thousands of pages through it (not me, it's government surplus equipment). Unfathomably good hardware.Although I no longer use HP laser printers, I remain loyal to the technology.
- 23 Mar 2024 16:47
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: Housing Market 2024
- Replies: 56
- Views: 3418
Re: Housing Market 2024
That's a hint that it's a flow number.
How do you get from there to the headline?
How do you get from there to the headline?
- 23 Mar 2024 16:28
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Planning Retirement for Immigrant Parents
- Replies: 3
- Views: 207
Re: Planning Retirement for Immigrant Parents
Your parents won't have much taxable income, but neither Canada nor Ontario will allow them to be utterly destitute. Between OAS, CPP, and GIS, and various other government payments (e.g. HST credits, etc.), they will almost certainly have an annual cash income of $15-20k each. At income levels like that, there are often other provincial benefits (medical, dental, pharma, bus passes, rental help?, ...) that aren't taxable but are definitely worth money. If you can top them up with as much as US$15k apiece, none of which would be considered taxable in Canada, they're probably going to be fine. As to 4), if they came to Canada at age 40, they might be entitled to a government pension from the country they came from. It's worth checking out. M...
- 23 Mar 2024 14:54
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: Housing Market 2024
- Replies: 56
- Views: 3418
Re: Housing Market 2024
Investors own 23.7 per cent of Ontario homes, report says By SHANE DINGMAN, the Globe and mail. A new report has found that owners of multiple properties remain the drivers of real estate purchasing in Ontario, as first-time buyers and people moving house slowed down their purchases in 2023. The story over the past decade-plus has been a surge in the number of homes purchased by multiple-property owners, according to Teranet Inc., the private company that manages property registration records in Ontario. In 2011, multiple-property owners accounted for 15.3 per cent of home purchases, but by 2022 their share of the market reached 25.2 per cent of all homes sold in the province. According to Teranet’s Market Insight Report, the multiowner sh...
- 23 Mar 2024 00:26
- Forum: Under the Mattress: Protecting Your Money
- Topic: Currency Exchange
- Replies: 78
- Views: 6034
Re: Currency Exchange
I don't know if this has been covered up thread. If it has please forgive me. When I draw funds from my CIBC account in Malaysia, I am given a choice. "Skip conversion" and "proceed to conversipon ". I generally pick the latter, however, I have no idea what that means. You want to pull MYR from a Malaysian ATM. You have CAD at CIBC in Canada. You're being asked, by the Malaysian bank, whether you want them to do the conversion and tell CIBC how many CAD you withdrew (this is the "proceed to conversion" option) or if they should just tell CIBC that you wanted this many ringgit and have CIBC figure out what to charge you ("skip conversion"). The currency is converted either way; it's a question of whic...
- 15 Mar 2024 13:49
- Forum: Under the Mattress: Protecting Your Money
- Topic: Linking bank accounts to software?
- Replies: 18
- Views: 1576
Re: Linking bank accounts to software?
progress is a good thing Is this progress? My plumber explained to me how he had had £10,000 stolen from his bank account via his mobile phone. At first it sounded familiar: the fraudster—posing as a BT engineer—gained illicit access to his mobile phone after persuading him to download an app. He thought he was getting a broadband speed tester and indeed that is what it appeared to be. This type of fraud is known as “upstreaming”, according to fintech types. The plumber had been in touch with BT about his broadband, so the call did not seem suspicious. Having got in, with the speed test dials doing their normal thing, the criminal was searching the phone for his bank account. Suddenly it came up on the screen in front of the alarmed eyes o...
- 15 Mar 2024 13:15
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: BCE (Symbol-BCE)
- Replies: 1858
- Views: 286228
Re: BCE (Symbol-BCE)
Prepare to get more confused, and modify all those interval calculations. T+1 is coming soon.SQRT wrote: ↑14 Mar 2024 15:24 To get the dividend you must own it on the record date (end of day). To own it on the record date you must buy it 2 days prior.
Conversely, if you sell it 2 days prior to the record date you will not get the div as you don’t own it on the record day.
When they say x dividend date (1 day before record date). This is the first day, that if you buy it, you will not get the div, and if you sell it, you will still get the div.
Hope I got that right. I still find this a little confusing.
- 13 Mar 2024 20:10
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Real Return Bonds
- Replies: 1545
- Views: 242832
Re: Real Return Bonds
Use CIRO's website.
The search facility is relatively hopeless unless you have a CUSIP/ISIN. But, as long as you have that, you'll get a good and relatively recent price/yield. E.g. a search on CA135087XQ21, the Canada 3% RRB of 2036 turns up a few small trades yesterday...
The search facility is relatively hopeless unless you have a CUSIP/ISIN. But, as long as you have that, you'll get a good and relatively recent price/yield. E.g. a search on CA135087XQ21, the Canada 3% RRB of 2036 turns up a few small trades yesterday...
- 11 Mar 2024 17:13
- Forum: Community Centre
- Topic: Puzzles to keep the mind challenged
- Replies: 11
- Views: 487
Re: Puzzles to keep the mind challenged
On a computer, phone, or tablet, try Simon Tatham's puzzle collection. There are variations of most common newspaper and electronic puzzles, with varying levels of difficulty.
Open source. No ads. Free. Tiny. No internet connection required after installation.
https://newroman.net/puzzles/
https://apps.apple.com/us/app/simon-tat ... d622220631
https://play.google.com/store/apps/deta ... zles&pli=1
Open source. No ads. Free. Tiny. No internet connection required after installation.
https://newroman.net/puzzles/
https://apps.apple.com/us/app/simon-tat ... d622220631
https://play.google.com/store/apps/deta ... zles&pli=1
- 24 Feb 2024 13:24
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Frothy Equity Markets
- Replies: 1395
- Views: 155880
Re: Frothy Equity Markets
Mmmmmm. I love the smell of market timing in the morning.
- 24 Feb 2024 13:21
- Forum: Taxing Situations
- Topic: T5008 questions
- Replies: 24
- Views: 910
Re: T5008 questions
AFAIK, all UFile sends to CRA is total proceeds of disposition and net capital gains/losses for the year. CRA matches total proceeds against independent electronic filings from the financial institutions direct to CRA.
FWIW, I use UFile myself (since 2007) and enter no detail whatsoever. I keep track of dispositions over the course of a year in an Excel spreadsheet. The totals at the bottom of that sheet, proceeds, cost base, expenses, gain/loss get entered on a single line in UFile with the annotation "YYYY sales". I am always prepared to show CRA the details. I have never been asked.
FWIW, I use UFile myself (since 2007) and enter no detail whatsoever. I keep track of dispositions over the course of a year in an Excel spreadsheet. The totals at the bottom of that sheet, proceeds, cost base, expenses, gain/loss get entered on a single line in UFile with the annotation "YYYY sales". I am always prepared to show CRA the details. I have never been asked.
- 24 Feb 2024 13:13
- 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?
It cannot affect current year because CRA has no knowledge of your RRIF witholding until you send in your tax return and get a NOA. It cannot affect CRA's view of what you should remit, but it does affect what you must remit. Having the financial institution withhold will (almost certainly) reduce your instalment obligation this year. Quarterly instalment obligations for an individual are the minimum of: what CRA demands on a mailed instalment notice, your actual tax liability last year less what was withheld by payers, divided by 4, and your actual tax liability this year less what will be withheld by payers, divided by 4. [Reference: https://www.canada.ca/en/revenue-agency/services/payments-cra/individual-payments/income-tax-instalments/...
- 23 Feb 2024 10:18
- Forum: Now Hear This!
- Topic: Serving Canadian investors for 18 years and counting ...
- Replies: 44
- Views: 6664
Re: Reassurance to Members as to Financial Viability of FWF
The Management wrote: ↑22 Feb 2024 15:04 The biggest contributions to FWF are not money, but time. That includes the time of our moderators, administrators and management team, all volunteers.. But the biggest contribution is by the posters here, who give of their time and knowledge, to help others and to contribute to a collective learning experience. Thank you all for making FWF possible.
- 23 Feb 2024 10:16
- Forum: Taxing Situations
- Topic: Claiming tax paid on excess TFSA contribution
- Replies: 9
- Views: 446
Re: Claiming tax paid on excess TFSA contribution
What we think of as "income tax" is levied under Part I of the Income Tax Act. "Penalties" on over-contributions or prohibited investments are taxes under Part X IIRC. They're apples and oranges.
- 23 Feb 2024 10:07
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Norbert's Gambit and T5008
- Replies: 24
- Views: 1852
Re: Norbert's Gambit and T5008
You have to report the transaction, because the one thing that CRA is definitely going to get from the financial institution is total proceeds of disposition during the year. If the total proceeds you report on your Schedule 3 are materially different than what has been directly fed to CRA, that will set off alarms.
The follow-on is that, since you've reported proceeds on the sales, you have to report the cost base too. If you don't, your capital gains are way high, as is your tax liability.
Added: To my mind, an NG trade isn't a foreign exchange gain or loss per Bylo's link. I report them as regular trades and show the gains or losses, notwithstanding the $200 de minimis exemption.
The follow-on is that, since you've reported proceeds on the sales, you have to report the cost base too. If you don't, your capital gains are way high, as is your tax liability.
Added: To my mind, an NG trade isn't a foreign exchange gain or loss per Bylo's link. I report them as regular trades and show the gains or losses, notwithstanding the $200 de minimis exemption.
- 22 Feb 2024 12:27
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: State of title certificate available in three months
- Replies: 9
- Views: 586
Re: State of title certificate available in three months
The delay is more likely to be the previous mortgagee dawdling about removing their registered charge on the title than BC Lands being swamped.
- 20 Feb 2024 18:04
- Forum: Retirement, Pensions and Peace of Mind
- Topic: 401(k) income splitting?
- Replies: 8
- Views: 2056
Re: 401(k) income splitting?
Yes, TIAA is a special situation. As far as I know, it's actually an insurance company, so what it pays is an annuity. Cross-border retirement annuities qualify for pension splitting under the Income Tax Act.
Good luck keeping CRA sweet, but it sounds like you're golden.
Me, not so much.
Good luck keeping CRA sweet, but it sounds like you're golden.
Me, not so much.
- 20 Feb 2024 15:26
- Forum: Taxing Situations
- Topic: Moving back to Canada - Taxation of US Taxable Brokerage Account
- Replies: 6
- Views: 398
Re: Moving back to Canada - Taxation of US Taxable Brokerage Account
Welcome to FWF. The following presumes you don't have a green card. 1. The first thing you need to assess - this is a projection because you wrote "move back ... in a few years" - is whether you'll be a covered expatriate at that time. If so, then you will owe capital gains tax to the US. If not, you won't. In either case, there will be negligible capital gains for Canadian purposes. (If you have funds in a 401(k) or IRA, they're subject to special taxes too if you're a covered expatriate.) The expatriation tax rules change from time to time, and have gotten more onerous over the last 20 years. By the time you pack, there's no way of knowing what the rules will be, so keep your eyes open. For most people, the initial filter on the...
- 20 Feb 2024 14:57
- Forum: Retirement, Pensions and Peace of Mind
- Topic: 401(k) income splitting?
- Replies: 8
- Views: 2056
Re: 401(k) income splitting?
Welcome to FWF. I presume you're wondering about splitting 401(k) distributions after you resume residence in Canada. Notwithstanding the assurances that formerpatriot got from CRA on the phone back in 2019, nor the Serbinski writings, it's a gray area. CRA is absolutely clear that the taxable portion of a foreign pension, US Social Security included, is splittable on a Canadian T1. CRA is also absolutely clear that a distribution out of an IRA is not splittable. So what's the argument in favour of a 401(k) distribution being "eligible pension income" if an IRA distribution isn't? There really isn't one that I can see. The law and regulations that make IRA distributions taxable income in Canada also make 401(k) distributions taxab...
- 15 Feb 2024 21:36
- Forum: Financial News, Policy and Economics
- Topic: Inflation
- Replies: 1010
- Views: 155665
Re: Inflation
Inflation is a problem everywhere.
Taken at a bus stop in southern Mexico. (The bus operators are complaining because fare increases aren't allowed; see the bottom row.) From personal observation, tomatoes and juice oranges cost 3x what they did in 2018. Cheap five years ago, but not any more.
It's not obvious how the locals cope. Wages haven't doubled.
Taken at a bus stop in southern Mexico. (The bus operators are complaining because fare increases aren't allowed; see the bottom row.) From personal observation, tomatoes and juice oranges cost 3x what they did in 2018. Cheap five years ago, but not any more.
It's not obvious how the locals cope. Wages haven't doubled.
- 30 Jan 2024 16:42
- Forum: Under the Mattress: Protecting Your Money
- Topic: CDIC advertising
- Replies: 11
- Views: 780
Re: CDIC advertising
I'm with active here, even if it amounts to peanuts. The most recent one I saw was at the halftime of last weekend's NFC championship. Does CDIC truly believe that there's much of a target audience among such viewers? To be fair, I don't often watch sports on TV, so perhaps I should give CDIC credit for identifying a demographic that needs financial help. As best I could tell, half the ads during the average football or hockey game these days are for online gambling.
- 30 Jan 2024 16:28
- Forum: Taxing Situations
- Topic: Completing Form T2125 for Day Trading Option Spreads
- Replies: 9
- Views: 565
Re: Completing Form T2125 for Day Trading Option Spreads
I wouldn't bother. The dollar amounts are large but it's a simple business.professional tax preparer?
Tick accrual. Cash accounting is a red flag. Accrual is also more consistent with the proposed inventory accounting signaled by declaring cost of goods sold.Cash or accrual?
The other thing you should tick is Yes for last year of business in the identification section. It doesn't bind your son in any way, and it would buttress a claim of "I gave day trading a whirl and discovered I was crap at it, so I quit" if CRA happens to ask.
P.S. Tell him he needs to keep every confirm. For years.