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by Peculiar_Investor
08 Feb 2024 08:17
Forum: Taxing Situations
Topic: Small estate size solutions
Replies: 23
Views: 774

Re: Small estate size solutions

We regularly share relevant information about wills and estates. In British Columbia, the need for probate does vary on a case-by-case basis, but a good rule of thumb is that an estate worth less than $25,000 usually does not need to go through probate. Source link for that quote please? Google found it. How big does an estate have to be in order to go through probate in British Columbia | ClearEstate Technologies Inc On Probating a Will - Province of British Columbia they only state Probate is a process that verifies a will is real under B.C. laws. Whether a will needs to be probated or not depends on the agencies and financial institutions that hold assets within an estate – they may require that a will is probated before the assets are ...
by Peculiar_Investor
07 Feb 2024 15:01
Forum: Under the Mattress: Protecting Your Money
Topic: Transfering USD from a Canadian USD account to a US bank account
Replies: 22
Views: 1052

Re: Transfering USD from a Canadian USD account to a US bank account

Searching1 for USD within Topic titles only turned up these previous topics viewtopic.php?t=120480 or viewtopic.php?t=120612 or viewtopic.php?t=122395 that might offer any ideas that you had not already considered?

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1 See this post to understand this search technique
by Peculiar_Investor
07 Feb 2024 10:37
Forum: Taxing Situations
Topic: Working from Home Expenses
Replies: 5
Views: 625

Re: Working from Home Expenses

As people begin work on their 2023 tax returns they should be aware What the changes are – Home office expenses for employees - Canada.ca
CRA wrote:Eligible employees who worked from home in 2023 will be required to use the detailed method to claim home office expenses. The temporary flat rate method does not apply to the 2023 tax year.
For those who have claimed this over the past number of COVID-19 years it might be worthwhile to review each of the items in CRA's Home office expenses for employees - Canada.ca
by Peculiar_Investor
06 Feb 2024 16:27
Forum: Under the Mattress: Protecting Your Money
Topic: Quicken Canada Subscription releases and information
Replies: 27
Views: 5603

Re: Quicken Canada Subscription releases and information

Heads up that Windows Canada R54.xx Release — Quicken was announced today. The latest Quicken for Windows Canada release R54.17 is now available to all Quicken Canada customers. I generally spending my early Saturday morning running Quicken and downloading the most recent transaction data from my financial institutions, reconciling and doing any required bill payments. That gives others the opportunity to update before me and report any significant issues. What’s Improved Improved the graph in the Income by Security report, now allowing for stacked bars to display income by security or income by type (e.g., dividends, interest) when subtotalling by month, quarter, or year, with an added option to show period-to-date income. Enhanced the Inv...
by Peculiar_Investor
06 Feb 2024 09:48
Forum: Taxing Situations
Topic: Non registered margin account - Canadian moving to US
Replies: 8
Views: 464

Re: Non registered margin account - Canadian moving to US

orion216 wrote: 06 Feb 2024 09:20 I'm more curious about Non-registered Margin account where I hold more $.
I have no personal experience with cross-border taxation so will defer to others.

There seems to be two questions that remain. The first is whether or not your brokerage (IBKR Canada) will allow you to trade on the account once you re-locate to the US. Have you tried asking them?

The second is tax treatment of your holdings. As I previously posted,
Peculiar_Investor wrote: 05 Feb 2024 18:03 From a Canadian taxation point of view you need to determine your residency status for Canadian taxes
by Peculiar_Investor
05 Feb 2024 18:13
Forum: Financial Planning and Building Portfolios
Topic: Prioritize TFSA over RRSP?
Replies: 17
Views: 1398

Re: Prioritize TFSA over RRSP?

Does Rob Carrick read FWF? Posted about an hour ago A tax hater’s guide to choosing between TFSAs and RRSPs - The Globe and Mail (for subscribers) The popularity of TFSAs was summed up well by an adviser who got in touch recently. He said the bottom line is that TFSAs are funded by after-tax dollars and so have no strings attached. With RRSPs, you get a tax deduction when you contribute and then pay tax on withdrawals. The tax-free aspect of TFSAs is powerful, but it doesn’t always mean you pay the least tax if your goal is saving for retirement. Here are some tax-forward points to consider in deciding whether to use TFSAs, RRSPs or non-registered accounts. I'll leave it as an exercise for the FWF reader to follow the link if they want move...
by Peculiar_Investor
05 Feb 2024 18:03
Forum: Taxing Situations
Topic: Non registered margin account - Canadian moving to US
Replies: 8
Views: 464

Re: Non registered margin account - Canadian moving to US

orion216 wrote: 05 Feb 2024 05:10 Hi,

Canadian moving to US for potentially long-term (>3y) work here, with TN.

I've read from many articles that liquidating investment account is recommended before leaving Canada.

In particular, TFSA should be liquidated totally.
Welcome to the FWF community.

Based on discussions here on FWF I would suggest that registered investment accounts need to be thoroughly reviewed if/when moving to the US, mostly for tax treaty reasons.

From a Canadian taxation point of view you need to determine your residency status for Canadian taxes by reviewing Non-residents of Canada - Canada.ca
by Peculiar_Investor
05 Feb 2024 17:57
Forum: Under the Mattress: Protecting Your Money
Topic: Power of Attorney
Replies: 52
Views: 9335

Re: Power of Attorney

The post mentioned the Substitute Decisions Act a few times which I took to be the Ontario legislation. Other provinces have similar legislation but my understanding was the it held different names (e.g. BC Power of Attorney Act). Upon further review I see your point as your reply was specifically directed at Is an online stock brokerage entitled to insist that a Power of Attorney be prepared by a lawyer and carry his seal? ✂️ It is my understanding that the intent of the Substitute Decisions Act is to lay out all the conditions necessary for a power of attorney to be valid. The key word here is all; it is not open to an institution to impose conditions beyond those stated in the Act. It is also my understanding that the only grounds for r...
by Peculiar_Investor
05 Feb 2024 17:18
Forum: Under the Mattress: Protecting Your Money
Topic: Power of Attorney
Replies: 52
Views: 9335

Re: Power of Attorney

OnlyMyOpinion wrote: 05 Feb 2024 17:09 I am not a lawyer, but per: POA Q&A's
Nor am I a lawyer. However a minor nitpick, the link is for the Province of Ontario's Power of Attorney Q&As. While the quoted material might be generally correct in other provinces or territories, there can be differences based on provincial or territorial legislation. The Province of Quebec is probably the most common example.
by Peculiar_Investor
05 Feb 2024 09:31
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: How long should your bond ladder be now?
Replies: 10
Views: 1146

Re: How long should your bond ladder be now?

Just wondering if anyone else has wrestled with this and how. Yes I've somewhat wrestled with this over the years that our bond ladder objective was a 10 year bond ladder. Sometimes it has been hard to hold my nose when faced with a maturity and the need to restore the rung(s) on the long end of the ladder. According to Investopedia's article Bond Ladder: Overview, Benefits, FAQ and Examples The purpose of purchasing several smaller bonds with varying dates of maturity rather than one large bond with a single maturity date is to minimize interest-rate risk, increase liquidity, and diversify credit risk. Our wiki article Fixed income ladder - finiki says There is no attempt to forecast the direction of interest rates, so a ladder can be see...
by Peculiar_Investor
04 Feb 2024 09:57
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Basic ETF Portfolio - What Would It Include?
Replies: 17
Views: 1669

Re: Basic ETF Portfolio - What Would It Include?

SkepticalConsumer wrote: 04 Feb 2024 09:48 Sooooo worried about stock market crash
I would suggest that indicates your your level of acceptable risk might need to be reviewed and possibly adjusted to reduce equity exposure.

You might want to read our wiki article Risk and return - finiki for some thoughts to further ponder.
by Peculiar_Investor
03 Feb 2024 16:38
Forum: Taxing Situations
Topic: How to re-submit T4A to CRA as a Payer
Replies: 5
Views: 426

Re: How to re-submit T4A to CRA as a Payer

rafat_saad wrote: 02 Feb 2024 13:57 Hello,

I'm currently working as a clerk at a non-profit organization.
Welcome to the FWF community.
rafat_saad wrote: 02 Feb 2024 13:57 I'm seeking guidance on what steps I should take from here. Can I re-upload the corrected XML file in the same manner? Alternatively, is it possible to avoid forwarding those specific slips to the contractors?
I am not an accountant. I did find File information returns electronically (tax slips and summaries) - Make corrections after filing - Canada.ca that might help guide you on next steps.
by Peculiar_Investor
31 Jan 2024 17:52
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: 2024 Predictions Contest
Replies: 39
Views: 3293

Re: 2024 Predictions Contest

Now that month-end standings are available they have been added to our wiki article FWF contests - finiki.
by Peculiar_Investor
31 Jan 2024 15:20
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Consolidation of TFSA
Replies: 6
Views: 543

Re: Consolidation of TFSA

CROCKD wrote: 31 Jan 2024 15:06 I want to BUY about 1500 to 2000 shares of VBAL.

Any advice on how to do this without disturbing the day's trading - presumably some kind of limit order.?
This comes up periodically. Use a limit order and don't worry about volume. VBAL is widely traded. From an older topic
Bylo Selhi wrote: 04 Nov 2021 13:26 I've bought VBAL in 6-figure tranches without any worries. Always about an hour after markets open with a limit of 1¢ over Ask just in case.

In addition to what others have said, remember that there's an inherent arbitrage system between trade price and the value of the underlying assets. This also helps to keep everyone "honest."
by Peculiar_Investor
31 Jan 2024 12:31
Forum: Retirement, Pensions and Peace of Mind
Topic: Invest Entire RRSP in GIC Only
Replies: 12
Views: 1734

Re: Invest Entire RRSP in GIC Only

Mudcrab wrote: 31 Jan 2024 12:23 Context is important. Is your RRSP the bulk of your investment assets or just one component of it? Are you near retirement & wanting to draw income soon, or more in the accumulation stage?
Very good and important point. Thanks.
by Peculiar_Investor
31 Jan 2024 10:21
Forum: Retirement, Pensions and Peace of Mind
Topic: Invest Entire RRSP in GIC Only
Replies: 12
Views: 1734

Re: Invest Entire RRSP in GIC Only

One of the neat artifacts of FWF is historical context in different environments. From Why should GIC ladder ever beat bond ETF? which begins with
icudoc wrote: 12 Apr 2018 11:45 I understand that in a low interest environment, the perennial question is why bonds or bond funds as opposed to cash or cash equivalents (money market, HISA, GICs). As I understand the theory of it, if bonds have a little more interest rate risk than GICs, there must be an overall increased return as compensation.
Note the 2018 date when it was posted.

"Making predictions is hard, especially about the future" - attributed to Yogi Berra, Niels Bohr, and others.
by Peculiar_Investor
31 Jan 2024 10:15
Forum: Retirement, Pensions and Peace of Mind
Topic: Invest Entire RRSP in GIC Only
Replies: 12
Views: 1734

Re: Invest Entire RRSP in GIC Only

Given current interest rates, would anyone consider investing their entire RRSP in GIC's only? Knowing what will happen with future interest rates is a mug's game. That is why the practical solution is generally a Fixed income ladder - finiki . To me there are two parts to the question How long a fixed income ladder to you want to maintain? 5 year is very common, particularly because until recently CDIC coverage on GICs was limited to 5 years. Do you want to use GICs, individual bonds, bond ETFs or some mixture for the fixed income allocation. There are a number of previous FWF topics that debate the merits of each approach, such as Portfolio Theory: GICs vs. Bonds and Should I Invest in a Bond or a GIC? Personally, for tax efficiency reas...
by Peculiar_Investor
31 Jan 2024 08:17
Forum: Retirement, Pensions and Peace of Mind
Topic: Delay unlocking LIRA to age 71?
Replies: 38
Views: 2685

Re: Delay unlocking LIRA to age 71?

OptsyEagle wrote: 31 Jan 2024 08:10 There is also a new annuity program our government came out with, for RRSPs/RRIFs, called Advanced Life Deferred Annuity (ALDA). I know little about it, but found it mildly interesting just before I forgot it all. You can take a look at it in case it has value for you.

https://www.canada.ca/en/revenue-agency ... /alda.html
There is also the FWF topic Advanced Life Deferred Annuity (ALDA).
by Peculiar_Investor
30 Jan 2024 22:19
Forum: Community Centre
Topic: Tech oddities in 2024
Replies: 3
Views: 402

Tech oddities in 2024

Somewhat inspired in the somewhat interesting but off-topic postings in another topic, ….My home branch was in Waterloo and I could access my account from the CT branch on the main floor of my office at 55 St Clair Ave W. [They ran this on a pair of IBM S/370-155 mainframes in London IIRC.] They used a pair of 360-30s and upgraded to 145 then 155. And then upgraded to 158s, etc. I meant what they had when they rolled out multi-branch banking to the general population. Did that ever run on a pair of 30s? [The S/360-30 was my first "personal computer." It was all mine after the CEs left Sunday nights until the operators arrived at dawn. Fond memories. (Not at CT.)] A couple of recent news reports of odd technology requirements in 20...
by Peculiar_Investor
30 Jan 2024 20:35
Forum: Under the Mattress: Protecting Your Money
Topic: EasyWeb Online Banking
Replies: 162
Views: 14968

Re: EasyWeb Online Banking

Intuitive interfaces seem to be open to interpretation. Agreed. Add in that changes are generally not readily accepted by current users and you have a challenge. Look at what happens when any software vendor makes a significant user interface change. Generally only the vocal minority who dislike the changes are heard from and therefore it seems like the changes are not well accepted. Those that are accepting or happy with the changes generally never raise their hand to say thanks. They need an unbiased user panel to review pending changes. Who says they don't? I would hazard a guess they definitely would have written and reviewed the user interface specification with knowledgeable user interface designers and consultants. Then tested the i...
by Peculiar_Investor
30 Jan 2024 16:13
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

Welcome to the FWF community. I'm assisting my son with his 2023 tax return and have some questions about completing form T2125 for day trading option spreads. He works full-time as an investment representative (trader) and, despite thinking he knew what he was doing, decided to end his day trading career after incurring losses. I would suggest the challenge is most FWF'ers tend to be long term investors, not day trading speculators. Therefore the extent of the knowledge here is pretty limited. Via the search function I did find some older topics that might provide some insight. Take a look at Tax advantages of day trading on income account? and trading - capital gains or income? (quite an old topic, likely dated information). Given the dol...
by Peculiar_Investor
30 Jan 2024 08:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Dividend and distribution hikes (2024)
Replies: 71
Views: 11500

Re: Dividend and distribution hikes (2024)

In METRO REPORTS 2024 FIRST QUARTER RESULTS tehy report
Metro wrote:On January 29, 2024, the Board of Directors declared a quarterly dividend of $0.3350 per share, an increase of 10.7% versus last year's quarterly dividend.
This shareholder appreciates the increase.
by Peculiar_Investor
25 Jan 2024 17:40
Forum: Community Centre
Topic: ebook copy not allowed!
Replies: 29
Views: 1604

Re: ebook copy not allowed!

Caveat, I don't use eReaders or Adobe Digital Editions (ADE) so I'm somewhat guessing and trying to build off the posts of others
tedster wrote: 25 Jan 2024 17:08 ADR authorized and sees Kobo.
Also authorized on your laptop or whatever device you are using the download the ebook from the library?

Via the Help link on Bibliothèques Montréal - OverDrive I also found,

CE_COPY_NOT_ALLOWED - No permission to copy the book error in Adobe Digital Editions
by Peculiar_Investor
25 Jan 2024 17:06
Forum: Community Centre
Topic: Science is amazing
Replies: 818
Views: 55673

Re: Science is amazing

NASA's Ingenuity Mars Helicopter Succeeds in Historic First Flight Fast forward to today and it was announced that: After Three Years on Mars, NASA’s Ingenuity Helicopter Mission Ends - NASA NASA’s history-making Ingenuity Mars Helicopter has ended its mission at the Red Planet after surpassing expectations and making dozens more flights than planned. While the helicopter remains upright and in communication with ground controllers, imagery of its Jan. 18 flight sent to Earth this week indicates one or more of its rotor blades sustained damage during landing, and it is no longer capable of flight. Originally designed as a technology demonstration to perform up to five experimental test flights over 30 days, the first aircraft on another wo...
by Peculiar_Investor
25 Jan 2024 16:49
Forum: Community Centre
Topic: ebook copy not allowed!
Replies: 29
Views: 1604

Re: ebook copy not allowed!

tedster wrote: 25 Jan 2024 06:58 None of these have worked.
Can you confirm that you've tried what is suggested in
Clason wrote: 24 Jan 2024 23:27 Edit: this explains your problem:
If you have not authorised both Adobe Digital Editions and your ereader device, or if you downloaded your ebook file before you authorised Adobe Digital Editions then you may receive the CE_COPY_NOT_ALLOWED error.
The link is Transferring an ebook from ADE to an ereader device – Help Centre