Originally Posted by lowside67 (Post 9002326)

1) The reason that no bank is willing to take any liability about how much your parents contribute to a TFSA (and they are SUPER clear about this fact), is because there is literally no way for them to do this. Even CRA only has a ledger well after the fact because of all the time delays of reporting to CRA.

It is 100% your parents' responsibilities to monitor their contributions and it is a cop out and weak excuse to say that a junior rep at a bank was SO convincing that your parents were misled into over contributing.

2) The TFSA is a savings mechanism that is designed to provide an incentive for people to invest for their futures so people don't run out of money in retirement and become a drain on the various support systems. It makes 0 difference to the Canadian government whether you hold cash, Canadian stocks, or US stocks in it - it's not like they "get a cut" if you held Canadian stocks but not US stocks.

The simple reason why there is a withholding tax on US securities held in a TFSA and not an RRSP is actually nothing to do with it being a TFSA. There is a withholding tax on US securities in ALL types of accounts with the exception of the RRSP. The TFSA did not exist when this exemption was penned for the RRSP, otherwise it undoubtedly would have been negotiated at the same time.

-Mark

Originally Posted by Hehe (Post 9000041)

I hope no one is in NKLA.

They just ousted its CEO... going to be an very interesting morning as soon as pre-market opens.

Originally Posted by asma123 (Post 9004779)

As for my main question
I have some money sitting in my tfsa account and it’s just collecting dust. I’m looking for a stock in the tsx (has to be cad) which would have decent dividend payouts or room for growth. I’m wondering if someone can suggest one to invest into. Tia!

Originally Posted by whitev70r (Post 9004830)

I'm always pleasantly surprise how much dividend I get from ENB every 3 months. And price of shares is at a pretty low price now.

Originally Posted by xxxrsxxx (Post 9004827)

what are some good stocks/indexes to buy today or right after the US election?

Originally Posted by lowside67 (Post 9002443)

It's 15% of the potential income from interest or dividends. If you own US tech stocks that pay neither, for example, doesn't really matter and certainly provides diversification benefits and capital appreciation opportunities that don't exist in the Canadian markets, even at a higher cost.

-Mark

Originally Posted by Recon604 (Post 9005136)

Dividends paid by U.S.-domiciled companies are subject to a 15% U.S. withholding tax. The U.S. withholding tax does not apply to capital gains. So if you buy $5,000 USD worth of Apple and sell it for $7,000 USD, you get the full $2,000 USD gain automatically.

Originally Posted by Recon604 (Post 9005136)

Dividends paid by U.S.-domiciled companies are subject to a 15% U.S. withholding tax. The U.S. withholding tax does not apply to capital gains. So if you buy $5,000 USD worth of Apple and sell it for $7,000 USD, you get the full $2,000 USD gain automatically.

Originally Posted by Hondaracer (Post 9005344)

Riding that XPEV wave

Originally Posted by whitev70r (Post 9005501)

What the hell triggered the sudden sharp rise? Not complaining.