Investing U.S. stocks in a TFSA + MORE Nov 30th

RateSupermarket.ca ranks Canada’s top banking performers in savings, chequing and GICs
Interest rates may be low these days, but if you’re looking to make your money work for you in the best way possible, then there are still plenty of options. Canada’s banks offer a variety of products with competitive rates. Depending on how much you can put in, you may be surprised by what you get in return.
To examine the best savings and chequing accounts and GICs, we crunched the numbers using common deposit amounts for all three. None of the winning products carry monthly fees and all are examined over a five-year term.
And the 2016 banking winners are*:
Best Savings Account with $5,000 Balance
WINNER: BMO Savings Builder
2nd Place: Scotiabank Savings Accelerator
3rd Place: Scotiabank Momentum Savings
Best Savings Account with No Minimum Balance
WINNER: EQ Savings Plus Account
2nd Place: Alterna Bank High Interest eSavings Account
3rd Place: Oaken Savings Account
Best Chequing Account with Low Balance
WINNER: Tangerine No Fee Daily Chequing
2nd Place: President’s Choice Financial® No Fee Bank Account
Best 5-Year Cashable GIC – Registered
WINNER: ICICI Bank Canada GIC
2nd Place: BMO GIC
Best 5-Year Cashable GIC – Non-Registered
WINNER: ICICI Bank Canada GIC
2nd Place: Royal Bank GIC
3rd Place: BMO GIC
Best 5-Year Cashable GIC – TFSA
WINNER: ICICI Bank Canada GIC
2nd Place: Canadian Direct Financial GIC
3rd Place: State Bank of India GIC
Best 5-Year Non-Cashable GIC
WINNER: Oaken Financial GIC
2nd Place: Implicity Financial GIC
3rd Place: MAXA Financial
*All data was compiled between September 7 and 21, 2016…

DETROIT – Fiat Chrysler says its new gas-electric hybrid minivan will get the equivalent of 84 miles per gallon in electric mode and 32 mpg in city-highway mileage when in hybrid mode.
The redesigned Chrysler Pacifica minivan went on sale earlier this year, and the hybrid version is due in showrooms in December. The company says the Pacifica is the first hybrid minivan in the U.S. and the most efficient minivan on the market. It says the numbers have been confirmed by the U.S. Environmental Protection Agency.
The hybrid can go 33 miles on battery power. After that it switches to the hybrid mode.
The hybrid Pacifica costs $41,995 before a $7,500 federal income tax credit. The price excludes shipping.
The post Chrysler minivan gets 84 mpg equivalent in electric mode appeared first on Canadian Business – Your Source For Business News.

Q: In a TFSA, I hold a mutual fund that holds U.S. blue chip stocks. Am I penalized?
—Stephen
A: Tax-Free Savings Accounts can be great. Most of the time, your investment returns are tax-free. Sometimes, however, you may end up paying tax—and not even notice.
I assume this is what you’re asking, Stephen, when you ask if you are penalized for holding U.S. blue chip stocks in a TFSA. Blue chip stocks tend to pay dividends and U.S. and foreign dividends are treated differently in a TFSA than Canadian dividends or interest income.
Canadian dividends and interest are specifically tax-free in a TFSA, when earned, when withdrawn, whenever. Non-Canadian dividends, including those paid by U.S. blue chip stocks, are subject to withholding tax in a TFSA.
The IRS levies a withholding tax of 15% on dividends paid to Canadian resident investors. Whether you own U.S. stocks directly in your TFSA or you own a Canadian mutual fund or exchange-traded fund (ETF) that owns U.S. stocks, the result is the same…