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1:19-1:20 statement confused me because the video shows Tom owns the Spousal RRSP in the example, while the speaker talks about the Spousal RRSP being hers. I would have preferred if both the visual and audio example speaks of the same scenario.
but if I don't live long enough and if I pass it to my love ones. the government will take about 50% of the sum because the government will force you to withdraw the entire sum for that year. is this correct?
Hello, In Example 1, if I sell again these shares within 30 days, I won't have these shares after 30 days from the initial sell. Will it still be considered superficial loss as the second condition for superficial Loss won't be met (and both conditions of the rule have to be met in order to qualify it superficial loss)?
Hi… can you clarify something for me? I have the PRC but I am out of Canada right now by now and my PRC might expires soon before I can get back. My question is: can I get in Canada when returning from my trip using a tourist visa in case my PRC is expired? And how long can I stay out of Canada with my PRC?
Q: what happens if you name the beneficiary "The Estate" in your TFSA? Does the TFSA become part of the estate and is then divided as per the named beneficiaries in the will?
Can someone tell me at the 3:32 mark how to go to a BMO GIC in an investment account search. This looks impossible to do given the video missed about 100 steps on how she got to a chart with NO GIC listen on that list. Is it even possible to buy a GIC through an investment account??? The video was good until the 3:32 mark. What the heck?!?! Anybody?????
As a GIS and OAS receiver, I know I cannot leave Canada for more than 6 month/ What id I leave Canada for say 5 months and 28 days, and come back for a short period of the time, them stay overseas for another long period,, but shorter than 6 months. If I keep doing this, can I still entitle to receiving GOS and OAS?
I spoke with my bank, and I was told the MER is included in the price of the mutual fund, For example: if the fund costs $10 per unit and the fee is 1%, then i pay $10.10 per unit. This is for the MER
not 2 options...how come financial advisors always get things wrong. You can donate in kind in to a charity of your choice in part or in full. The Charity gets full amount tax excempt and I you or me gets full non-taxable credit besides your other only 2 options!
Hi, thanks for creating this video, is this information accurate for this year yet? Thanks im going to declare first time this year. Thanks in advance.
I really like your youtube tutorials...they are very helpful. I have liked & subscribed to your channel. I have an inquiry: My question is regarding my ACB (Adjusted Cost Basis) on NQSO stock sale (Short, Covered). I received my 1099-B, which states the amount of the Cost Basis as $98,121, then I recd. an "additional" form (Stock Plan Transactions Supplement). On this form it states that the "ACB" is $509,155.00. I believe that the Cost Basis ($98,121) reported to the IRS is incorrect. It need to reflect the ACB ($509,155) instead. Q: Where on my 1040, 8949, schedule D...can I make the adjustment to reflect the CORRECT Cost Basis, i.e. The adjustment? Any help would be greatly appreciated! I normally use Turbo Tax Software, but this year I found it difficult to navigate. 😞
i called the canada pension revenue and they told me that there is no such report of this happing could you tell me why not i could recevive this bonus thank you
i am curious to know why you did not mention the $2000.00 tax credit only being available if you have converted to a RRIF? What I am trying to learn is if that credit is still there after the 72 year age? As I am tuning 70 this summer t would have been good to know about the tax credit before i closed 2 smaller RRSP's in the past, also if it is a good idea now to convert part of my larger remaining RRSP and get the credit? Thanks for sharing
just take out 5000 and then another 5000 so you pay 1000, but you already got an advance from before from the 10000 you put in there so its like you are giving back the refund
ummmm...what about the limit? if "High Income" (say 300K) have a 30K/year, and "Low income" (say 50K) has an 8K deduction deduction limit, does that mean "high income can deduct 30K+8K, or does it mean "high income" can contribute 30K+8K, and "high" deduct 30K, while "low" deducts 8K? or does it have to be 22K+8K so that "high" won't reach the limit?
Above example Husband income 40K and wife 120K Husband RRSP limit 20 and wife 8 k How much max husband can contribute in spousal RRSP His limit 20 or spouse limit 8
