For questions that relate to the laws, practices, and products of Canada.

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2
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0answers
25 views

What will happen if you filed your taxes with two different locations? How can it be solved?

I was living in Winnipeg, Manitoba and I had done my taxes online with H&R Canada Online. H&R Canada provided me with some papers to print out and then it was settled, I moved to Sudbury, ...
2
votes
2answers
147 views

Investing While the Candian Dollar is really low

I am just Starting to get into investing now that I am the age where I have a Steady job, pension plan and government bonds and a good savings. But with the Canadian Dollar being close to 0.70$ USD it ...
0
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0answers
20 views

What special considerations need to be made for a US citizen who wishes to purchase a house in Canada?

According to an answer on a previous question, buying a house in Canada if you are a US citizen is pretty straightforward. But it doesn't address tax concerns in both countries - how are they ...
1
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0answers
45 views

Where do I have to pay taxes?

I'm a Canadian citizen doing a rotational program with an international company based in UK. I'm paid by the American holdings office, and I was living and working in California between September '14 ...
4
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1answer
84 views

Working remotely from Canada for a US company. How to get paid?

I am a Canadian who just landed a (short-term contract) job working remotely for a US company. Since this happened through a (US) recruiter, my employer would pay the recruiting firm, who would pay ...
1
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0answers
26 views

I forgot to file my T4 tax form. Will this affect my mortgage?

I'm in Quebec, Canada. Tomorrow I am submitting an application for mortgage through a mortgage agent. Because I started working at a new job in December 2014, I was asked for my T4 forms and notices ...
3
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4answers
167 views

Higher auto insurance costs: keep car or switch to public transit?

In the next couple months, my personal situation will change leaving me with an important decision to make vis-a-vis my vehicle and modes of transportation. My current situation: living in the ...
3
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0answers
62 views

What happens when your Canadian ETF shuts down?

I just got a notice that an ETF I own will termiate in 2 months if the shareholders don't vote for an extension. I understand that if I kept the shares until the termination date, I would get a ...
0
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1answer
23 views

U.S. stock sales- tax on sale for NR Canadian

I am a Non-resident Canadian living in Thailand on a Retirement Visa and my non-residency status dates back to 2013. I have no income except for CPP,. OAS, and a company pension all of which total ...
3
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2answers
74 views

How long should one wait before reapplying for credit card after account closure

I have recently come out of some financial trouble. I had about 4 collection agencies I owed money to and 2 credit card accounts that had been frozen and closed. I have now paid off both credit cards ...
4
votes
2answers
113 views

What happens when a promissory note wasn't specific enough about interest?

My mom loaned a 'friend' some money a few years ago, which was supposed to be paid monthly. Since then the friend has been paying sporadically and they are now in a disagreement over what the ...
1
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0answers
82 views

Salary vs Dividend: is this example wrong?

I saw a link to a great article in old (2012) question. http://vereecke.ca/index.php/articles/will-that-be-salary-or-dividends/ I've tried understanding the article well, but I think that the author ...
2
votes
1answer
38 views

Switching Accountants - who does the audit review for past years?

If I switch my accountants, and the later CRA audits my returns (that were done with the previous accountant), who will be responsible for helping me with the audit: the new accountant or the previous ...
0
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3answers
126 views

If I was to buy something a day before my due date for my credit card bill, would I be charged interest?

First of all, I am a resident of Canada. I am sort of new to credit cards, so I hope my question makes sense. I've had my card for a few months ago and I've always payed the balance in full by the ...
0
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0answers
41 views

New TD D-Series funds: are they worth considering (unknown expense ratios)?

I am currently a holder of TD's e-Series funds in my investment portfolio. However, the other day, I came across a new series of funds offered by TD: D-Series funds. From what I can tell, the funds ...
1
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1answer
27 views

How to calculate after-tax return if investor can use capital loss, in Canada?

[Source:] As you can see in the table, the $105,000 government bond matures at $100,000, for a capital loss of $5,000. The investor would also collect interest totalling $9,660 over the three years ...
4
votes
1answer
351 views

Never-cashed cheques

A scenario: You pay someone with a cheque for something, receiving a receipt for it. They do not cash in the cheque. What is the ettiquette for this situation? Are you to go on living your life, ...
3
votes
1answer
81 views

Taking out money on current home for down payment of new home

My real estate broker is advising me to borrow money against my current house for the down payment on a second house . I need to borrow about 50k. My current house has a principal balance of 80k and ...
1
vote
1answer
96 views

How do I determine which ETFs yield more than, but are nearly as safe as, high-rate savings accounts?

Abbreviate High-interest Savings Accounts to HISAs. This question is restricted to ETFs that can be traded in only Canada. This question assumes the superiority of investing in ETFs, over HISAs. ...
0
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0answers
35 views

First time buyer in Ottawa and need some advice!

Hi im thinking of buying a home in Ottawa south for 350,000$ and im going to put 25,000$ as a down payment. I will be moving to another country in 3 years so i will have to sell my home. Do you think ...
0
votes
1answer
51 views

Foreign intern in USA - filling out W-8BEN form

I'm a Canadian student doing a paid internship in the United States for the summer on a J1 visa. I've set up a bank account here in the United States which has been used to successfully directly ...
0
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0answers
59 views

How to transfer funds online from a Canadian CIBC account to RBC instantly?

I thought Interac transfer is instant but my mom wants to send me money from her CIBC account but she said it takes 2-3 business days? What method can be used to transfer from a CIBC checking to a ...
1
vote
1answer
82 views

Candian citizen working for USA company staying in Canada

I am a Canadian citizen. What legalities do I need to follow if I take up a full time remote job offer from a company in USA? Also, how does the answer change if the job offer is in USA (remote) but i ...
2
votes
1answer
82 views

How do dividends affect your average cost (both re-invested and non re-invested)

I have read that re-invested dividends lower your taxes by increasing your average cost of the security so that when you sell your security, the difference between the sales price minus the book value ...
3
votes
0answers
97 views

US Citizen Buying Rental Property in Canada

I currently own a few rentals (town homes / condos) in the United States. I pay on average about 1% higher interest because it's not owner occupied. I have friends in Canada. I've been told there are ...
0
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1answer
65 views

What suggested supplemental income opportunities exist for a 70 year old Canadian retiree?

This is similar to the question "Extra revenue for retiree receiving a basic public pension", but focusing not on whether, but what. I am wondering what forms of supplemental income (jobs/gigs) would ...
1
vote
1answer
128 views

For long-term savings: Short-term Bond ETFs vs High-interest Savings Accounts

In the Summer 2015 edition of MoneySense magazine, the article Value Hunter (Cash cows for your portfolio) by Norm Rothery, recommends replacing High-interest Savings Accounts (HISAs) with Short-term ...
5
votes
1answer
88 views

Do Canadian citizens have to file Canadian income tax returns even when living abroad?

American citizens are required to file taxes from abroad and to declare all world income. Is something like this also a requirement of Canadians when not residing in Canada? Does anyone have any ...
1
vote
3answers
179 views

Is it smarter to buy a small amount of an ETF every 2 or 3 months, instead of monthly?

Hereafter, all money is in Canadian Dollars. My relative in Canada buys and holds for the long run. She plans to invest around $2000 of only ETFs monthly. Market timing is hard; so she refuses it. ...
-1
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1answer
48 views

Trade ETFs with Banks' Brokerages or separate Discount Brokerage? [closed]

Hereafter, all money is in Canadian Dollars. My relative in Canada banks with HSBC Canada, is an Advanced customer, and possesses an HSBC InvestDirect account. She buys and holds for the long run, ...
3
votes
1answer
114 views

Implications of a Canadian company IPO having a dual TSX/NYSE stock listing?

As an exampe, Shopify will go public this upcoming May 26th, selling shares both on the TSX and the NYSE. What are some of the main implications of this dual IPO, other than the fact that the ...
0
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3answers
139 views

How to exchange foreign non-US currencies cleverly, in Canada?

I ask this for my friend in Canada who wants to exchange some Asian currency into CAD. We all wish to avoid banks' exorbitant conversion fees. Norbert's Gambit appears to apply only for converting ...
1
vote
2answers
200 views

What is the optimum way to draw money from your retirement nest egg

Let us say I have put away a nest egg like this (all numbers in CAD): Cash/GIC : 100,000$ Stocks/ETF: 100,000$ Bonds:100,000$ REIT: 50,000 Own rental property : 200,000 Let us say, I wish to retire ...
8
votes
5answers
2k views

Pros/cons of borrowing money using a mortgage loan and investing it in a low-fee index fund?

I'm wondering if this investment strategy would work: I get a mortgage loan for $300K at a 3% rate (realistic for current 5-year fixed mortgage rates here in Canada). I invest the proceeds in a ...
3
votes
2answers
404 views

Unable to pay even the minimum payment on credit card

I was in USA for last 10 years, and I am not able to repay the credit-card payment, not even the minimum payment due. I was paying the minimum payment due before, but as I do not have a job anymore I ...
0
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1answer
38 views

Where to see SEC filings for companies that only trade on TSX

For a Canadian company that only trades in TSX and none of the US exchanges, is there a Canadian equivalent of SEC filings? Which website will have that info?
2
votes
1answer
136 views

Should I put a small amount of savings in a high interest savings account?

The highest in Canada that I've found is 2.8% interest, compounded annually where the interest is calculated daily. I have $2000, and the initial amount and the interest earned is guaranteed by a ...
0
votes
1answer
79 views

Do health insurance premiums go up as you age?

If I buy private health insurance at the age of 40, and start off with a monthly contribution of 200$ (for example), then does the amount of premium change when I reach 50? Since at 50, my medical ...
2
votes
1answer
95 views

What is the best way to pay my American rent from Canada?

I need to pay rent to my landlord on or before the day I arrive in America. Right now I live in Canada, and I have the money to pay (in USD), I just do not know what the most efficient payment method ...
2
votes
1answer
69 views

At what point do recurring small business losses become a problem with Canada Revenue Agency?

How many times can a small business owner claim an overall yearly loss, when filing income taxes, before the Canadian Revenue Agency (CRA) will consider it a problem? A friend who runs her own small ...
3
votes
0answers
64 views

Inheriting funds from a U.S. trust where you are not the trustee

I am a U.S. citizen trustee and executor of my mom's trust. My brother is a Canadian citizen and lives in Canada and not a trustee. I will be dividing the trust funds or investments between the two ...
2
votes
1answer
62 views

Can a dividend reinvestment plan (DRIP) and share purchase plan (SPP) be used with a TFSA?

Can I put Sun Life (SLF) shares into a dividend reinvestment plan (DRIP) and share purchase plan (SPP) plan, and then put into a TFSA investment account for a family member, 5 to 10 year term?
2
votes
1answer
138 views

How much should I charge a U.S. company for IT work I'll do remotely from Canada?

I'm currently living in Canada. I have very nice job and I'm happy with it. My previous company in the U.S. contacted me and they want to hire me as a 1099 (independent contractor) working remotely. ...
1
vote
1answer
88 views

T4A Slip received by student. What is it?

I am an 18 year old first year university student, and moving out of residence at the end of the semester recently I was informed that there was a letter that was not picked up. It turned out to be ...
1
vote
2answers
202 views

How to report Canadian T4 slip items (e.g. CPP, EI) on a U.S. tax return?

I am a U.S. citizen resident in Canada. Does anyone know how to report the various items on a Canadian T4 (a rough equivalent of a W-2) on a U.S. tax return? I am not sure about the following items: ...
0
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1answer
114 views

How can a Canadian establish US credit score

I don't have a SSN or US address. I would like to start establishing a credit score in US. What are my options? What is the fastest way?
0
votes
1answer
33 views

What duration bonds are held by the ETF XBB

I am looking at the bond etf XBB. This ETF mostly holds Canada govt bonds. What I don't understand is what is the duration of these bonds held by the fund?
3
votes
1answer
102 views

Can I use losses from sale of stock to offset capital gains from sale of property

If I make a capital gain from the sale of a house but make capital losses from the sale of stocks in my brokerage account (not tax sheltered), then can I use the losses against the gains to reduce my ...
-3
votes
1answer
83 views

How will a rise in interest rate affect the CAD

When Bank of Canada raises interest rates ( not sure when or if that will happen), can I expect the CAD to regain its former glory against the USD? Is it fair to say that buying the CAD: USD pair ...
-1
votes
1answer
79 views

How can a Canadian get exposure to safe haven currencies?

How can a Canadian get exposure to a safe haven currency like CHF and JPY? I don't want a U.S. dollar denominated ETF. I want something in Canadian dollars, to save on conversion fees. Is this ...