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  1. General Personal Finance Talk
    Does anyone use this? I am wondering why there is an entry for "How much have you withdrawn from your TFSA in 2023? ". When I enter an amount, it drops my contribution limit for the current year and bumps my limit for next year. However if I do this calculation using the CRA worksheet-TFSA...
  2. General Personal Finance Talk
    Q: Can a mortgage be held in a TFSA? If so, would it not be possible to make payments without withdrawing money from the TFSA?
  3. Investing
    I notice that the actual contribution room I've got in my TFSA isn't correct at CRA till about April. Can I just contribute as much as I know is allowable early in January? I just don't want to get dinged by them.
  4. General Personal Finance Talk
    In light of the fact that tax will only increase, something that I mention previously, does it make sense for a young person to use RRSP for retirnment, or should he/she stick with TFSA?
  5. Taxation
    Hello Everyone, I am checking my available room for TFSA contribution on myCRA and I am surprised by the increase in the available contribution. The only thing has changed this year is I have become a permanent resident. I am unable to find the related article on the official site. Am I...
  6. Taxation
    Hello all, I got a new mortgage with my bank and was given a $1000 if I opened a TFSA account with them and kept it for a year or something like that, I can't remember the exact terms. I was new at notion of TFSA but I knew my annual limit of around 60k as I never contributed before and it is...
  7. General Personal Finance Talk
    I've been living in the US on a green card for some time now. I've been to figure out what to do with my registered accounts; I didn't settle this prior to moving (which I regret) and now I'm trying to figure out what to do. I tried applying for Canadian investments but since I'm no longer a tax...
  8. Investing
    Time to start my first TFSA. I want to pick one or more ETFs with somewhat risky portfolios. As I know little about tracking them, I think a passive management strategy would be best. It seems that WealthSimple and Questrade are the recommended investment firms, for reasons of cost and number of...
  9. Taxation
    I read this article, The Wrong Way to Think About Withholding Taxes | Canadian Couch Potato, on the CCP blog, and while it was quite helpful, I still don't know how withholding taxes themselves work. The article has made it clear that more important factors exist in making decisions like what...
  10. Investing
    So for several years I have been giving money to my parents to help pay off their mortgage. They have recently paid it off and I still give money as it is part of our culture and I feel it is my duty to give back for all they have done throughout my life. Since they have paid it off, they are...
  11. General Personal Finance Talk
    Hey everyone. Hope you're all staying safe. I'm not really sure where to start in terms of my finances. So I'll write out my current life and financial situation in general. I'm 36 years old, single, have an online business that pays the bills but barely covers my expenses. I try to live...
  12. Taxation
    Hi Guys i became a canadian permanent resident in 2017 with the target of moving here in 2019 when my spouse finished her studies . i landed here in 2017 for a few days and returned to US and my spouse stayed in canada for her studies , in 2019 December i moved here from NJ and am staying here...
  13. Taxation
    If I transfer my stock earnings into my TFSA would it save me from paying taxes on it?
  14. Investing
    Hi there! I'm looking to buy mutual funds at either TD or CIBC; however I already own tax-deferred accounts at RBC (1 TFSA and 1 RRSP). How should I go about setting my funds within either of these accounts? Will I be able to combine them or will I have to start a new tax-deferred account at...
  15. Investing
    I started company matching my TFSA about a mojth ago. Is it a bad decision, not only it is a bear market, also the future of job security is not clear as well. What would you do?
  16. New Member Introductions
    Hello Everyone! Im a little late to the investing game but my wife and I have started to save a very small amount every month in a TD TFSA account. We have a tonne of contribution room in both our TFSAs and RRSPs. We currently have just under $900 in the account and I haven't invested the...
  17. Taxation
    When my son graduated from university three years ago, he left Canada and claimed non residence for the past 3 years. He is now back to Canada. He never has TFSA account bfefore. I am wondering if TFSA room he was eligible before he left Canada is still available to him. Thanks in advance.
  18. Investing
    I have no idea how this happened, but in 2018 I made two $5500 contributions to my TFSA, one in Feb and one in March. That put me $5500 over the limit. I just received a letter from CRA notifying me of this (more than a year later!). I'm sure there are penalties involved, which I will try to...
  19. Investing
    Assumption: Margin income tax rate: 43% Dividend yield of international ETF ( ZSP or ZEF): 2.0% Fund: $50000 Taxable Account vs TFSA Dividend 1000 vs...
  20. Investing
    I'm trying to advise a young person on long term investing. I'm very much a drip investor. I like how when the market is sinking you don't need to panic because you'll get your dividends reinvested at a lower price and maybe pick up even more shares. So for me, it helps to protect myself from...
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