Q: Further to Fred's question about where to put Trust Units; my experience is never in a Family Trust (or other Trust) as the reporting deadline for BEP.UN is the same as when the the Family Trust return is due, ie. March 31. If you hold BEP.UN in a private corporation you also cannot finalize your corporate tax return until the tax information is received. This goes for all Trust Units (.UN) as well as investments similar to ZQQ.
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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: Thanks for all your help.
It is tax season, and trusts are giving me issues with their reporting being complex and late, generally. Being late, I’ve have to update my taxes that were already done by my accountant.
I am trying to figure out where best to put trusts, like BEP.UN, for tax and reporting purposes. Are they best in a Corporate account, personal, RRSP, or TFSA?
Thanks again,
Fed
It is tax season, and trusts are giving me issues with their reporting being complex and late, generally. Being late, I’ve have to update my taxes that were already done by my accountant.
I am trying to figure out where best to put trusts, like BEP.UN, for tax and reporting purposes. Are they best in a Corporate account, personal, RRSP, or TFSA?
Thanks again,
Fed
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Fairfax Financial Holdings Limited Subordinate Voting Shares (FFH)
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Constellation Software Inc. (CSU)
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Brookfield Renewable Partners L.P. (BEP.UN)
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Algonquin Power & Utilities Corp. (AQN)
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Magna International Inc. (MG)
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Open Text Corporation (OTEX)
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Brookfield Infrastructure Partners L.P. (BIP.UN)
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Nutrien Ltd. (NTR)
Q: I own several Canadian stocks in my TFSA that pay dividends in USD. Are the dividends eligible for the Canadian dividend tax credit?
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iShares S&P/TSX Canadian Preferred Share Index ETF (CPD)
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iShares Convertible Bond Index ETF (CVD)
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iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) (XPF)
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iShares U.S. High Yield Bond Index ETF (CAD-Hedged) (XHY)
Q: I have a non-registered a/c, a RRIF and a TFSA and would like to add fixed income investments to each using ETFs. I am looking at the above mentioned ETFs. Is there a general rule of thumb as to which type of income should go in to various accounts and would XHY and XPF be subject to withholding tax?
Q: Are dividends from USA ETF's held in a RRSP exempt from withholding tax just like USA stocks are? Thanks. Peter
Q: We bought a dividend mutual fund for my grandson at birth 18 years ago. This is held in trust in my wife's name and actual amount of actual dividends, taxable amount eligible dividends and dividend tax credit for eligible dividends ( Boxes 49,50 & 51 of the T3 form) claimed on her income tax for the last 17 years. Now this fund is worth 3.5 times the original amount invested- my question is can you tell us if the growth of this fund will have to be declared as a capital gain when we cash it out to give him to start a TFSA?
If this question is out of the realm for you to answer please feel free to charge me as a question asked.
Thank you for this and the service you provide.
If this question is out of the realm for you to answer please feel free to charge me as a question asked.
Thank you for this and the service you provide.
Q: My Canadian Margin account is up 29% accoding to TDW. I would like to lock in some of the gains but I already sold some stocks this year (ATD.B with ACB of $2.97 and GIL with ACB of $2.77). I sold these stocks for diversification purposes but they are still my two biggest holdings in my portfolio. I cannot afford to sell any more stocks as all my holdings are in the black and I would incur capital gains. I would have to take out a loan to pay the capital gains tax if I sold some more stocks. Would there be any way to lock in gains with options for 2019?
Q: 7:10 AM 4/11/2019
When I search the BIP.UN website I find:
"Specified Foreign Property
For the purpose of reporting foreign property by Canadian investors, pursuant to section 233.3 of the Canadian Income Tax Act, Brookfield Infrastructure Partners L.P. is not a specified foreign property and therefore does not need to be reported on Form T1135 - Foreign Income Verification Statement."
However when I search the BEP.UN website I find no comparable statement. But I get a statement from TDWaterhouse Wealth to the effect that BEP.UN IS a foreign property.
Does this mean that BEP.UN needs to be reported as foreign ownership or is BEP.UN just like BIP.UN and TD has made a mistake?
Thank you....... Paul K
When I search the BIP.UN website I find:
"Specified Foreign Property
For the purpose of reporting foreign property by Canadian investors, pursuant to section 233.3 of the Canadian Income Tax Act, Brookfield Infrastructure Partners L.P. is not a specified foreign property and therefore does not need to be reported on Form T1135 - Foreign Income Verification Statement."
However when I search the BEP.UN website I find no comparable statement. But I get a statement from TDWaterhouse Wealth to the effect that BEP.UN IS a foreign property.
Does this mean that BEP.UN needs to be reported as foreign ownership or is BEP.UN just like BIP.UN and TD has made a mistake?
Thank you....... Paul K
Q: Example. If I purchased a $1000.00 worth of shares in stock XYZ, the shares are now worth $100.00 and I'm going to sell them. Am I allowed to contribute $900.00 back into my TFSA to make up for the loss?
Q: When we hold u.s. stocks in lif and rif do we have to report if the total in u.s. funds exceeds $100000 or is that only a factor in unregistered accounts.
Q: Would you know if MDIV (a US etf) qualifies as a holding in a Canadian RRIF?
Q: Are the fees for the Portfolio Analytics membership tax deductable?
Not a question, but sharing information. You mentioned fees could be claimed as Carrying Charges. Previously, someone mentioned claiming the fees as Investment Counsel. So far, this has been successful for me. I figure, instead of paying my previous (useless) Advisor about $10K/year, I now receive my advice from 5iResearch.
Not a question, but sharing information. You mentioned fees could be claimed as Carrying Charges. Previously, someone mentioned claiming the fees as Investment Counsel. So far, this has been successful for me. I figure, instead of paying my previous (useless) Advisor about $10K/year, I now receive my advice from 5iResearch.
Q: I currently own Shopify in a non-registered account, with significant gains. Thank you for this recommendation. Do you think it is going to continue with its gains and if so, would it make sense to move it to my TFSA? I will eventually have to take the tax hit on the gains, regardless. I have room in my TFSA to buy it back with the gains that I have made. Thanks
Q: Are the fees for the Portfolio Analytics membership tax deductable
Q: When filing your income tax return and you have to declare stocks sold in a particular tax year from an open account ( T5008) the CRA requests the Adjusted Cost Base for those stocks/sales. Can I as an individual calculate the ACB or do I have to have my financial institution provide it? If I can calculate it what backup material do I have to provide?
Q: Does this etf qualify for the Canadian dividend tax credit in a non registered account? If no, how is the dividend taxed? Is there a US 15 per cent with holding tax ? Thanks for the information.
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Global X S&P 500 Index Corporate Class ETF (HXS)
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Global X S&P/TSX 60 Index Corporate Class ETF (HXT)
Q: Good mornng,
Thank you for your prompt and very helpful answer to my question re: Mutual funds/ETFs that do not pay any DISTRIBUTIONS and only generate CAPITAL GAINS.
As a follow up to your general HORIZON Total Return ETFs recommendation, what are your thoughts in terms of appropriateness if I were to split the amount to be invested in each of my minor grandchildrens' Non Registered in-trust accounts as follows: 50% in HXS.CA and 50% in HXT.CA? Your comments/thoughts on these specific ETFs would be most appreciated. Feel free to recommend other ETFs as need be . Thank you.
Thank you for your prompt and very helpful answer to my question re: Mutual funds/ETFs that do not pay any DISTRIBUTIONS and only generate CAPITAL GAINS.
As a follow up to your general HORIZON Total Return ETFs recommendation, what are your thoughts in terms of appropriateness if I were to split the amount to be invested in each of my minor grandchildrens' Non Registered in-trust accounts as follows: 50% in HXS.CA and 50% in HXT.CA? Your comments/thoughts on these specific ETFs would be most appreciated. Feel free to recommend other ETFs as need be . Thank you.
Q: would you confirm for me if it is correct that DSC can be deducted from capital gains as outlays and expenses. and would be claimed using schedule 3 when completing my income tax return? thank you
Q: are the dividend from the above stocks taxed at 50% income or full income ? is there a change in the new federal budget so all dividends will be 100 % taxable
Q: Concerning Canadian Cies (like FFH or TRP ), paying dividends, but getting a significant part of their revenues from the US or from foreign Cies that they own : Do we get the whole tax credit on their dividends ? Or is it only in proportion of the Canadian portion of the Cie ?