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Revscene Wall Street.
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10-12-2020, 04:04 PM
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#10601 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
Posts: 15,242
Thanked 3,215 Times in 1,398 Posts
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From what I've seen, CRA only goes after TFSA if you do a lot of day trades in it and make a shit ton of money.
There was a news article about it a few years back that I read.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic  Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | 
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10-12-2020, 08:32 PM
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#10602 | | I subscribe to the Fight Club ONLY
Join Date: Apr 2004 Location: BC, HK, USA
Posts: 7,342
Thanked 2,344 Times in 972 Posts
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Originally Posted by lowside67 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 | Yup, you are right. Definitely our own fault for not checking, no different than someone over buying RRSPs, we need to check each yr what our limit is.
For TFSA, when withholding tax is 15%... means everything is a wash... fuck it.. Canadian markets it is.
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10-13-2020, 08:36 AM
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#10603 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,556
Thanked 3,947 Times in 1,202 Posts
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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
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I'm old now - boring street cars and sweet race cars. | 
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10-15-2020, 06:57 AM
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#10604 | | The "You'd Know" Moderator
Join Date: Apr 2001 Location: Home
Posts: 20,930
Thanked 274 Times in 139 Posts
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Originally Posted by Hehe 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. | Market is always right. Daily trend is down. It was shit after the breakout play in June.
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08 CBR600RR
03 IS300
Ezekiel 25:17. The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who, in the name of charity and good will, shepherds the weak through the valley of the darkness. For he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who attempt to poison and destroy my brothers. And you will know I am the Lord when I lay my vengeance upon you. | |
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11-01-2020, 11:18 AM
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#10605 | | Captain Happy Bubble is my Homeboy
Join Date: Feb 2013 Location: vancouver
Posts: 300
Thanked 225 Times in 79 Posts
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Anyone got shares of NIO? I got in around 11 and been doing pretty good now. They’re around $30
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!
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11-02-2020, 07:59 AM
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#10606 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jun 2004 Location: vancouver
Posts: 5,482
Thanked 386 Times in 177 Posts
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Yeah I'm in nio. Bought in at 16.50
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11-02-2020, 08:18 AM
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#10607 | | Where's my RS Christmas Lobster?!
Join Date: Jul 2004 Location: vancouver
Posts: 876
Thanked 196 Times in 41 Posts
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what are some good stocks/indexes to buy today or right after the US election?
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11-02-2020, 08:35 AM
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#10608 | | I subscribe to the Fight Club ONLY
Join Date: Nov 2002 Location: 604
Posts: 7,242
Thanked 3,998 Times in 1,904 Posts
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Originally Posted by asma123 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! | 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.
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11-02-2020, 10:35 AM
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#10609 | | Need my Daily Fix of RS
Join Date: Apr 2013
Posts: 281
Thanked 170 Times in 68 Posts
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Originally Posted by whitev70r 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. | This ^
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11-02-2020, 10:53 AM
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#10610 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
Posts: 3,606
Thanked 724 Times in 370 Posts
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ya they were saying ENB was a good deal around $41...now it's at $36.50
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11-02-2020, 04:10 PM
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#10611 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
Posts: 15,242
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Originally Posted by xxxrsxxx what are some good stocks/indexes to buy today or right after the US election? | Gun stocks if democrats win.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
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11-03-2020, 09:47 AM
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#10612 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
Posts: 3,606
Thanked 724 Times in 370 Posts
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you mean guns themselves...
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11-03-2020, 10:32 PM
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#10613 | | My dinner reheated before my turbo spooled
Join Date: Feb 2011 Location: Vancouver
Posts: 1,745
Thanked 691 Times in 275 Posts
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Originally Posted by lowside67 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 | 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.
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11-04-2020, 08:22 AM
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#10614 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,556
Thanked 3,947 Times in 1,202 Posts
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Originally Posted by Recon604 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. | Correct, that is exactly what I said. My point about tech stocks was if you own a stock that doesn't pay a dividend and instead your whole return is from appreciation, then it makes no difference if you hold them in a TFSA since there is no withholding tax.
-Mark
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I'm old now - boring street cars and sweet race cars. | |
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11-04-2020, 10:28 AM
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#10615 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Oct 2005 Location: Revscene
Posts: 9,283
Thanked 7,172 Times in 2,405 Posts
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Originally Posted by Recon604 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. | AFAIK, another thing to note is that for RRSPs, dividends from US companies are NOT subject to the witholding tax.
In that case, high growth, low-dividend US would be better in TFSA, but high-dividend US stocks would be better suited in RRSP.
This article outlines it pretty well: https://www.theglobeandmail.com/glob...ticle28819560/
__________________ Quote:
Originally Posted by skyxx Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good! | 2010 Toyota Rav4 Limited V6 - Wifey's Daily Driver
2009 BMW 128i - Daily Driver
2007 Toyota Rav4 Sport V6 - Sold
1999 Mazda Miata - Sold
2003 Mazda Protege5 - Sold
1987 BMW 325is - Sold
1990 Mazda Miata - Sold 100% Buy and Sell Feedback
Last edited by sonick; 11-04-2020 at 11:58 AM.
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11-05-2020, 06:47 AM
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#10616 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,443
Thanked 14,322 Times in 5,640 Posts
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Riding that XPEV wave
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Dank memes cant melt steel beams
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11-06-2020, 09:05 AM
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#10617 | | I subscribe to the Fight Club ONLY
Join Date: Nov 2002 Location: 604
Posts: 7,242
Thanked 3,998 Times in 1,904 Posts
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Originally Posted by Hondaracer Riding that XPEV wave | What the hell triggered the sudden sharp rise? Not complaining.
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11-06-2020, 11:07 AM
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#10618 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
Posts: 4,697
Thanked 2,422 Times in 918 Posts
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Coworker messaged me about CloudMD and Well technologies. WSB in me bought without DD
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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11-06-2020, 11:16 AM
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#10619 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 15,342
Thanked 15,430 Times in 5,106 Posts
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Weeeeeeeeed damn Aurora gone from $4.90’s to $15 in 1 week!
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11-06-2020, 11:40 AM
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#10620 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
Posts: 15,242
Thanked 3,215 Times in 1,398 Posts
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I bought back into APHA/CGC the other day. 
But unless things have changed in the last year, I wouldn't touch ACB myself.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
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11-06-2020, 02:48 PM
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#10621 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 36,443
Thanked 14,322 Times in 5,640 Posts
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Originally Posted by whitev70r What the hell triggered the sudden sharp rise? Not complaining. | AIG raised their outlook on the company and they also reported sales albeit only 12,000 units
Earnings are on the 12th I’m anticipating a drop from them and will buy back in on the dip I think
Hmm weed stocks again eh
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Dank memes cant melt steel beams
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11-06-2020, 04:17 PM
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#10622 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
Posts: 15,242
Thanked 3,215 Times in 1,398 Posts
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Weed stocks is interesting because 4 states legalized weed this week, and Oregon decriminalized hard drugs.
Weed is now legal in 15 states and decriminalized in 13 states.
One of Biden's campaign promises is to decriminalize weed. That will help pave way for legalizing it.
I feel like this could be the catalyst that leads to another bull run like the one we had a few years ago when Canada legalized it.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
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11-06-2020, 07:44 PM
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#10623 | | My homepage has been set to RS
Join Date: Jan 2012 Location: vancouver
Posts: 2,441
Thanked 1,755 Times in 544 Posts
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Anyone using questrade? My investment summary page is not reflecting the market price for a specific stock for the last 5 days.
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11-06-2020, 09:23 PM
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#10624 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2006 Location: Vancouver
Posts: 12,074
Thanked 3,186 Times in 929 Posts
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Anyone think it's too late to buy into NIO? I've been monitoring the price and it just keeps on going up
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11-06-2020, 09:34 PM
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#10625 | | Diagonally parked in a parallel universe
Join Date: Apr 2011 Location: Vancouver
Posts: 1,414
Thanked 710 Times in 343 Posts
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Been on that NIO wave since $16, don't think it's too late to ever get in, as I've bought more throughout this wave.
I don't understand how XPEV and Li Auto can shoot up that fast though. Too much EV hype but I can't complain.
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15" 328i Wagon
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