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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Hello, I do need some help what to do I received a letter from my TD Direct investing broker about the brookfield INF stating :that
Exch LP became non-qualified TSFA investments in OCT 2018
"CRA will require you to pay a one time penalty of 50 % based on the FMV of any investment that is acquired or becomes non-qualified in a TSFA"

Value of non qualified assest were $2695. $

My exchange date for the shares was in Nov. 2018
I did get the BIP for the Enercare shares and try to find out what went wrong,

Greatly appreciate some explanation for this.

Margit
Read Answer Asked by margit on December 12, 2018
Q: Hi,
I purchased some cdn dividend paying stocks on Oct14 and sold them Nov16 - Can I buy them back now (Dec7) without being concerned about the Superficial Tax Loss rule affecting me?
THX
Read Answer Asked by RALPH on December 07, 2018
Q: Good morning,
MUX announced new financing last night,it consists of a US $15,000,000 bought deal private place offering of 6,634,000 flow-through common shares priced at US$2.26. This offering price is at a 26% premium to the closing price yesterday of US $1.81. The stock price has been below US$2.26 for 6 weeks, why would anyone pay a 26% premium when they could have bought all the stocks they wanted at a lower price in the open market the last 6 weeks?
Thanks, George
Read Answer Asked by George on December 06, 2018
Q: Hi
Please help me understand this. What is the net difference between $1 in dividend from an eligible Cdn. company ( eg. ENB) vs. $1 “ dividend “ ( dividend and ROC) from a pure play Cdn. ETF ( eg. ZWU) ? Assume a non- Registerred Account that pays no tax.
Read Answer Asked by Frank on December 05, 2018
Q: tax question - I want to move a stock with a capital loss from a non-registered account to TFSA. I know I need to wait 30 days after selling the stock to buy it back in the TFSA. What about FIRST buying the stock in the TFSA, then afterwards (say the next day) selling the stock in the non-registered account and utilizing the capital loss. Is that process OK?
Read Answer Asked by David on November 29, 2018
Q: I am selling visa either this year or next year. Realising that you can not time the market and considering currency exchange could you advise a possible time to do this. Would this stock have a sharp drop in a recession. Do you think the Canadian dollar will weaken. A lot here so take credits as required. Thank you for the service.
Read Answer Asked by chris on November 28, 2018
Q: RE: Tax loss selling (registered accounts)
If I sell a stock at a loss in my RRIF or TFSA, do I still have to wait the 30 days to repurchase it in one of the above registered accounts ? For example I sold KEL, am I allowed to buy ZEO or another oil & gas company ? Thanks as always for your valuable advice !
Read Answer Asked by STEVEN on November 26, 2018
Q: I own ALA (Alta gas )CU (can utility ) VET (Vermillion ) all with a loss.I am planning to sell for tax loss.When is the best time to sell so I do not loose the divider for month of DEC, before end of the year.Thank you
Read Answer Asked by ebrahim on November 26, 2018
Q: If there is a capital gain , for example, of $5,000 on the sale of one stock does there have to be a matching capital loss of $5,000 on the sale of another stock in order to avoid payment of tax ? Thanks, Joe
Read Answer Asked by Joseph on November 26, 2018
Q: I would recommand for all to check with their bank for taxes report.
My bank IS providing annual T5 for all compound GIG.
Hope it is helpful
Read Answer Asked by claude on November 23, 2018
Q: Re: Tax Loss Selling. I understand that a loss counts if you wait 30 days before repurchasing. However, what if you repurchased in a different account in less than 30 days. Who the loss hold up? Thx Frank
Read Answer Asked by Frank on November 22, 2018
Q: The Nov.19 response to the tax treatment of GIC interest question is not quite accurate.
Most interest received is treated on a cash basis, so on a 1 year GIC a holder must only wait for the issuer's T5.
As for a COMPOUND interest GIC beyond one year, the second part of your response would apply, except it is the onus of the issuer to do the accounting and issue T5s.
See CRA link:
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/completing-slips-summaries/financial-slips-summaries/return-investment-income-t5/accrued-interest/investment-contracts/what-investment-contract.html
Read Answer Asked by Jeff on November 22, 2018
Q: I know you have recommended growth stocks in a tfsa account
For tax reasons, what about fixed
Income portion in the tfsa and
Dividend and growth in a investment account for the same reason. I review the previous questions and couldn’t find anything
Thanks for the help
Sam
Read Answer Asked by Sam on November 20, 2018
Q: Is tax loss selling strictly a Canadian phenomenon due to tax laws or is it a strategy available in the US as well?
Read Answer Asked by Joel on November 20, 2018
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