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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: I am about to become a Canadian non-resident for tax purposes. (once borders reopen). I understand I can keep my TFSA in Canada with no tax issues, but cannot contribute anything more to the TFSA. Does that make sense to you? If so, would ZGQ be a good all purpose ETF to leave in my TFSA. Any issues with this etf being in a TFSA? Any other ideas? Thanks.
Read Answer Asked by David on May 26, 2020
Q: Hi 5i, Stocks for a 5 year hold, I was thinking of Shop, CSU, GOOGL, how do you see growth of these stocks (inside my RRSP). Any suggestions ? Thank you!!!
Read Answer Asked by Fernando on May 25, 2020
Q: Hi Team, would you suggest some growth names for TFSA at the moment. I do have some Canadian stocks under myTFSA.
Keep up great job.
Read Answer Asked by Peter on May 13, 2020
Q: Hello 5i team,
Thank you for your help today- what I’m hoping to get some perspective on is tactics one could do to grow a portfolio- what you’d think wise or stupid, please.
In TFSA, two holdings happen to be up: AQN by 35% and NPI by 21%. Everything else is in the minus by -30 to -35% due to the current situation as generally they’re ok businesses, like two banks, phone co, etc.
Tactically, would it be an idea to sell the two that are up, and buy a few which are quite down now, then in due course replace what was sold?
I was thinking of more banks like BNS or BMO, and PPL, CNQ,SU, and KEY.
The idea being that the gains over time would be more than the growth in price of the two being sold, thus netting an overalL growth in funds.

In RRSP, two are close to break even, just a couple hundred dollars each in the red, namely T and NA.
If sold, I was thinking of BIP, BPY, and maybe SU, CNQ, and BMO- fairly similar to the TFSA idea.

I like dividends, I know SU just reduced; I’ve not heard if these others have/plan to. I think I’m fine with a 3-5yr estimation of recovery period for these ‘down’ stocks, if you think that’s likely.

I’d appreciate your counsel on this, thanks very much!
Read Answer Asked by Hilary on May 13, 2020
Q: Read today in G & M that I could transfer my RRIF in kind to TFSA. My wife and I would not need the funds from the dividends we receive. We are under water in value but have not sold any stocks. Our amounts would be below TFSA amount overall 69,500. for each of us.Would there be tax implications.Would banks charge to do this. Could we top up to$69,500 this year if we have cash becoming available. Tks 5i take as many questions points away as required for this answer.
Read Answer Asked by Guy on April 08, 2020
Q: Good morning, I hold these smaller cap companies in my TFSA for more aggressive growth, a strategy I believe you endorse.
In this new reality, I am thinking of a more conservative approach and selling the above and converting to FTS, RY, XRE, SLF.
If things recover well I will get a great pop on the big caps without the individual company risk associated with the smaller caps. If things go poorly with the recovery, my large cap mix should drop a lot less than the smaller caps.
Also, any of the above smaller caps that you do not like.

Thanks
Rob

Read Answer Asked by Robert on April 01, 2020
Q: My 22 year-old is slowly building and has a fully contributed 8 stock TFSA portfolio that includes GSY, KXS, PHO, PBH, SIS, BAM.A, CNR and TOY. Given his long timeframe (ideally, decades) this current market chaos will be far behind him by the time he will want to access the funds. That being the case, can you suggest a couple of names where he can direct this year’s TFSA contribution or are there some of his current holdings that you would add to instead of, or in addition to, any new positions?
Many thanks for your help.
Bruce
Read Answer Asked by Bruce on April 01, 2020
Q: Good day team, I have US cash, refunded from a cancelled trip. I am thinking of deploying into a US dollar TFSA. What are the implications/benefits/downsides of holding US stocks in a usd tfsa?
Read Answer Asked by Harry on April 01, 2020
Q: Hi, I have a tax question.
For non dividend US payers, do we get charged capital gains in a TFSA

Read Answer Asked by Ziaad on March 30, 2020
Q: The above TFSA holdings have not performed well and of course, are not eligible as tax loss harvesting. This is one of the potential downsides of TFSA investments. Please give me your thoughts on which ones you would move on from and without worrying about sectors, some replacements you think will recover well. Thanks again for your guidance.
Read Answer Asked by bill on March 26, 2020
Q: I sold some securities today in my personal account at a loss to offset some CG's I had. I know I can't buy the shares back for 30 days in my personal account; but do you know if can I buy the same security in a Corporate account that I own?
Read Answer Asked by stephen on March 26, 2020
Q: Is it possible to buy stock in a TFSA without any cash in the portfolio ? Buy stock X and then sell stock Y to cover ?
Read Answer Asked by Mark on March 26, 2020
Q: My son has AC shares in an unregistered account which were purchased over time as AC shares rose but now the AC price is below all of his purchase prices. He has tfsa room.

I am thinking of suggesting that he transfer those shares now to a tfsa so that he will not be taxed on the capital gains if and when the shares rebound.

As I understand it, he won't be able to use the tax loss due to the 30-day rule but he will not have any unregistered gains to use the offset anyway so I'm thinking that's a moot point. (I don't think he should liquidate and re-buy the shares in the tfsa after 30 days in case he misses the rebound.)

Does the transfer to a tfsa make sense or I am I missing anything here?
Read Answer Asked by William on March 24, 2020
Q: Re: Q concerning 5i patron's grandson with 2k to invest; should it be placed inside a TFSA?

My two adult / student offspring were recently in a similar situation and I agree with all that you said but would like to add some additional info:
- TD bank is currently running a promotion that if a person opens a new TFSA, they will have $100 placed inside the account in Mar 20' (promotion ends early Mar I believe)
- If the TFSA is opened at a TD branch (not a brokerage account) then there is no fee
- The TFSA account can have GICs, mutual funds and/or a cash component however, only a GIC or mutual fund will qualify the account for the $100 bonus

For each of my kids, I had them buy a one yr GIC (approx 1.6% as I recall) and place some short term cash in the cash component of the TFSA; the cash earns approx 1%.

You are right in saying that there will not really be much benefit to be gained but there are some intangibles to be considered: this is a great financial learning experience for a young person, the $ is placed out of their immediate grasp until they are more likely to need it and $100 is a terrific bonus for a small account.

Steve
Read Answer Asked by Steve on February 26, 2020
Q: I am in the process of helping my fiance invest her money. She has 14 000 in her TFSA. Can you suggest a mix of stocks? She still has approximately 25 years left in her job as a nurse. As she has many more years of work, she is willing to take on a high degree of risk for a 'growth portfolio.'

Regards,
Ryan
Read Answer Asked by Ryan on February 24, 2020
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