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by newguy
21 Apr 2010 14:27
Forum: Taxing Situations
Topic: Poll: Net cost of government to FWF members in 2009?
Replies: 12
Views: 450

Re: Poll: Net cost of government to FWF members in 2009?

Norbert Schlenker wrote: a) Gross up capital gains to the actual figure instead of the taxable figure.
But what about subtracting previous years capital losses. In '09 I had huge (for me) gains but it was only to get me to even from '08.

newguy
by newguy
21 Apr 2010 12:27
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Which ETFs/MFs Should I Use to Invest Outside Canada?
Replies: 25
Views: 1037

Re: Which ETFs/MFs Should I Use to Invest Outside Canada?

Doug wrote:I'm not a tax expert. My impression, from this board, was that I can't claim foreign tax credit for distributions from American based ETFs that invest outside America. I would like for newguy to be right.
I think I am right but it would be hard to figure out.
http://www.cra-arc.gc.ca/E/pub/tp/it506/it506-e.txt
There's some explanations and it says which section the relevant law is. My understanding is you can only claim a tax credit if the withholding is > 15%*. How would you figure this out?

newguy

*The Can-US treaty probably is involved here for US dividends.
by newguy
21 Apr 2010 11:30
Forum: Financial Planning and Building Portfolios
Topic: The Impacts of Generational Disenchantment
Replies: 180
Views: 10066

Re: The Impacts of Generational Disenchantment

I think you got it backwards.
drink.JPG
:lol:
newguy
by newguy
21 Apr 2010 11:24
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Which ETFs/MFs Should I Use to Invest Outside Canada?
Replies: 25
Views: 1037

Re: Which ETFs/MFs Should I Use to Invest Outside Canada?

Please correct me if I'm wrong about the loss of foreign tax credit for American domiciled ETFs investing outside the USA. About foreign tax withholding, I don't find it easy to get numbers for that. For US dividends, it's 15%. Does anyone have numbers for EAFE or emerging market funds? I don't see why you can't just look up the numbers from Vanguard about taxes withheld and claim them on your tax return. I didn't see anything in the tax act that says you can only use numbers that come on T-slips. http://laws.justice.gc.ca/eng/I-3.3/page-1.html#codese:20-ss:_11_ (caution, bigggg page). International witholding tax rates pg 52. I would probably only hold this stuff dripped in an RRSP so most of this discussion won't apply to me (or possibly...
by newguy
21 Apr 2010 09:21
Forum: Under the Mattress: Protecting Your Money
Topic: Alternative to amazon.com?
Replies: 54
Views: 6045

Re: Alternative to amazon.com?

Another thing booksellers probably have, is guaranteed sales. IOW if they don't sell a book, they can send it back to the publisher. Why then would they lower prices? The publisher should offer to lower them.

newguy
by newguy
21 Apr 2010 08:44
Forum: Under the Mattress: Protecting Your Money
Topic: Alternative to amazon.com?
Replies: 54
Views: 6045

Re: Alternative to amazon.com?

augustabound wrote:Would it not be fair to also say that Amazon.ca and Chapters may have bought these books with a lower Canadian dollar? Their cost basis needs to be considered when they set their prices, not the current dollar value.
That may be true but it's a stupid way for a business to think. Once the dollar changed they already had a loss. It's just a question of when and how they realize it. It's like people who hold on to a declining stock thinking they only have a real loss when they sell, for now it's just a paper loss :roll: .

newguy
by newguy
21 Apr 2010 08:40
Forum: Taxing Situations
Topic: trading - capital gains or income?
Replies: 33
Views: 5616

Re: trading - capital gains or income?

anh2 wrote:BTW my T5008 from IB is also wrong like many other, my box 21 on T5008 proceeds says $633,317.65 if I only wish with a deposit $33K.
That is the total amount of secutities you sold during the year. It's up to you to report the amount bought.

newguy
by newguy
20 Apr 2010 13:08
Forum: Financial News, Policy and Economics
Topic: The Great 2010 Inflession (massive inflation)
Replies: 334
Views: 13841

Re: The Great 2010 Inflession (massive inflation)

According to this presentation by Richard Koo a balance sheet recession is different.
money.JPG
Still waiting for inflation in Japan.

newguy
by newguy
20 Apr 2010 12:56
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1278
Views: 198062

Re: BMO Investorline

My ishares quotes at IB didn't work until I deleted them and re-entered them.

newguy
by newguy
20 Apr 2010 10:54
Forum: Taxing Situations
Topic: Need help calculating US Capital Gains in a margin account.
Replies: 30
Views: 1283

Re: Need help calculating US Capital Gains in a margin accou

MaxFax wrote:The math above is correct except for the deduction of the $200 from the FX loss. You would only deduct it from a gain. Or just forget it - I do.
Are you sure? That's not the way I read this.
http://www.cra-arc.gc.ca/E/pub/tp/it95r/it95r-e.txt
In the case of individuals the rules in that subsection provide that only the amount in excess of $200 of an individual's net gain or loss on the disposition of foreign currency is taxable or deductible as a capital gain or loss.
newguy
by newguy
20 Apr 2010 10:49
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Which ETFs/MFs Should I Use to Invest Outside Canada?
Replies: 25
Views: 1037

Re: Which ETFs/MFs Should I Use to Invest Outside Canada?

Doug wrote:I'm a novice index investor.
....
Comments, including criticisms, are most welcome.
Depends on your definition of novice. You seem to know more about the issues than, I'd guess, 99% of Canadians. The only thing I would add is: do the math, figure out what happens in each lifelong scenario.
For American domiciled funds investing outside America, a Canadian investor loses the foreign tax credit.
I would say ?? not sure about this, is there no flow-thru?
I myself would prefer not to have currency hedging due to the 1% drag it puts on your portfolio.
It's not always 1%, but I agree it costs more than it's worth.

Products always change, RBC allowing USD rrsp accounts will make some thing easier.

newguy
by newguy
19 Apr 2010 20:28
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Market Direction Thread
Replies: 243
Views: 20726

Re: Market Direction Thread

You guys knew I was going to post this.
Another up Monday
Continuing our coverage of the statistical aberration that is Mutual Fund Mondays, we have now officially resumed our adventure in Wonderland. Today marked the 18 out of the last 19 Mondays when the market was up. So far Mondays alone have generated a cumulative YTD return of just under 10%. This means that if one were to take away every Monday from every week in 2010, the S&P would have been negative.
Forget technical analysis, go buy a calendar. Even easier, if you have a hangover, buy stocks.

newguy
by newguy
19 Apr 2010 19:38
Forum: Taxing Situations
Topic: Need help calculating US Capital Gains in a margin account.
Replies: 30
Views: 1283

Re: Need help calculating US Capital Gains in a margin account.

Couldn't I just use the 2009 rate for both purchase and proceeds of sale? No, even if you want to use average yearly prices, you should use them from each year. Your situation is more complicated because you will also have forex p/l. I think an example is needed. Buy $10000 USD in stock in 2008 at exch rate of .95 =10000/.95 = $10526 in CAD (your cost base). Stock goes up 50% in the US. Sell $15000 USD in stock in 2009 at exch rate of .90 = 15000/.9 = $16667 in CAD (your proceeds of disposition). Profit is $16667-$10526 = $6141 But now you must figure the $10000 USD loan. Your cost for the loan is the 10000/.95 = $10526 CAD from above. But when it's paid back after you sell the stock you have to pay $10000 USD. So it's -10000/.90 = $-11111...
by newguy
19 Apr 2010 11:29
Forum: Retirement, Pensions and Peace of Mind
Topic: Public vs Private Pension - Envy and Debate
Replies: 906
Views: 66766

Re: Public vs Private Pension - Envy and Debate

I'm curious, are the pensions included in Canada's total debt? Is it a big enough amount to even worry about?

newguy
by newguy
18 Apr 2010 22:53
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: US Banks (2010 and beyond)
Replies: 35
Views: 2329

US Banks (2010 and beyond)

Don't know if I'm supposed to make a 2010 thread? I have a feeling things are going to get worse this year.
I was reading Hussman's latest and he points out that the recent bank profits come in large part from reduced loan loss provisions. However the situation isn't getting any better. Here's a chart up to the end of last year of loan loss reserves / nonperforming loans.
loans.JPG
newguy
by newguy
18 Apr 2010 13:39
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: VEA or TD europe/international index?
Replies: 7
Views: 759

Re: VEA or TD europe/international index?

I put some numbers in a spreadsheet and we discussed it here.
http://www.financialwisdomforum.org/for ... 62#p377262
You can't really just look at one year because the way the returns are calculated are different for some funds. What happens is if the numbers used at the endpoints change a lot then one year will outperform and the next underperform. There is a linked spreadsheet if you'd like to look at the 6 year history converted to CAD. I use IVV and EFA because it was easier, but they're not very different from the Vanguard funds.

newguy
by newguy
18 Apr 2010 13:27
Forum: Financial News, Policy and Economics
Topic: Debt-to-income ratio
Replies: 14
Views: 830

Re: Debt-to-income ratio

We are born with a short position in housing I've posted this before but I think it's especially apt here. When I buy a house I will consider the amount or size that would be equivalent to renting as just covering my short. If I buy more than that, I would have to consider it either an investment or consumption. The portion of any mortgage that would be the same as my rent isn't really debt, but just a way to gain leverage on my long position in labour. I'm still thinking about how the debt would work as a negative bond allocation in my portfolio. If I then take into account the fact that I probably won't have a mortgage then do I automatically have a larger bond position than most people my age. For example, owning a house is like having ...
by newguy
17 Apr 2010 16:26
Forum: Under the Mattress: Protecting Your Money
Topic: Credit vs. Debit
Replies: 98
Views: 11831

Re: Credit vs. Debit

Just rechecked my mailer and it says
"Authorized users will receive their own chip enabled card with a new unique card number
....
Authorized users will be able to see their new card number on easy web"

So I'm just guessing this means I have to change a couple of numbers. I was also just re-numbered when I had my TD gold travel switched to infinite. Just got my debit card today....oooh shiny. They said this would be the same.


newguy
by newguy
17 Apr 2010 09:11
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Goldman Sachs (Symbol-GS)
Replies: 103
Views: 11868

Re: Goldman Sachs (Symbol-GS)

carnet wrote:I'm not quite sure I understand the nature of the alleged fraud. Perhaps, I just haven't found the right clipping but is the allegation that someone at GS lied about the deal?

As far as I can tell, GS didn't force someone at gunpoint to buy anything. Presumably, there was some due diligence on the buyer's side. It seems like the buyer had influence about some of the deal details. Though, it's not the buyer that seems to be complaining here.
It's that what they were selling was designed by Paulson to fail.

newguy
by newguy
17 Apr 2010 09:04
Forum: Financial News, Policy and Economics
Topic: What, me worry?
Replies: 142
Views: 10122

Re: What, me worry?

Mike Schimek wrote:Well today was somewhat worrisome. Seeing markets tank just because Goldman Sachs got hit with a lawsuit seems indicative of how fragile sentiment is.
It doesn't seem right that CAD should be down 130bps at one point because GS will have a small fine. Maybe the financials but this was about commodities and I think it had more to do with China.

newguy
by newguy
17 Apr 2010 08:55
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: TD Mortgage foulup
Replies: 33
Views: 4329

Re: TD Mortgage foulup

Mike Schimek wrote:That sounds kind of funny for some reason. I think notaries can clear land titles, but not sure.
Right, but AFAIK that's only in Quebec. The ROC uses laywers. It still cost me something like $500 (to the notary) to have mine paid off.

newguy
by newguy
17 Apr 2010 08:30
Forum: Under the Mattress: Protecting Your Money
Topic: Credit vs. Debit
Replies: 98
Views: 11831

Re: Credit vs. Debit

I just got two mailings from TD. I'm getting new chip enabled debit and credit cards. Have to change my numbers again :evil:

newguy
by newguy
17 Apr 2010 08:20
Forum: Community Centre
Topic: My new printer is driving me crazy. Help please!
Replies: 4
Views: 115

Re: My new printer is driving me crazy. Help please!

Also, don't worry and call HP if you have a problem. I've now had 3 things on warranty with them and they quickly fixed everything. I just called them 2 days ago for a defective battery, it took me about 10 minutes on the phone and now a new one has been shipped.

I don't have much experience, but I think HP has excellent service.
newguy
by newguy
16 Apr 2010 15:37
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Market Direction Thread
Replies: 243
Views: 20726

Re: Market Direction Thread

So now what, do you hold short into 'mutual fund Mondays'? I don't think there's been a Monday down in forever. I'm covering about half, euro basically stalled at the gap support.

newguy
by newguy
16 Apr 2010 14:30
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: o'leary global equity income fund (Symbol-OGE.UN)
Replies: 80
Views: 14805

Re: o'leary global equity income fund (Symbol-OGE.UN)

It may not even be a bad fund. It's trading at a discount to NAV right now (10.27-9.60). This happens with closed end funds. I can't find the NAV history, so I can't tell you very much. Don't forget it's distributed $1.36 so far so if you paid $11.63 or less, I wouldn't consider it a loss just yet. It's also global so the $CDN may have played a role, but I think it's partly hedged(which will also cost you). Do more research before you blow it off as a bad investment. It may just not be the in thing right now.

newguy