The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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CPP performance is well ahead of what chief actuary of Canada says will be needed to pay benefits for decades.
The case of the time travelling money manager
– moneysense.ca
Imagine, if you will, the case of a time travelling money manager. He found a peculiar machine in the 1920s that allowed him to jump forward in time in five year increments. Not being one to waste a good opportunity, he set off through time and grabbed a copy of the newspaper when he landed before flashing forward again.Unfortunately, when he returned to his own time the machine collapsed into a highly-improbable wormhole and disappeared forever. A regrettable development to be sure, but the time traveller still had the newspapers he had gathered and was set to make millions in the stock market.
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It’s a fanciful tale, but it yields an interesting lesson. It’s something Dr. Wesley Gray explored in a post on alpha architect while using a somewhat more blasphemous metaphor.
The good doctor calculated how well an investor would have fared if they had known about stock returns in advance. He tracked a portfolio of 50 stocks that was rebalanced every 5 years based on knowledge of what would happen over the next 5 years from the start of 1927 to the close of 2016…
Why we're always in unprecedented times, a beaten down tech stock, and beware of the risks you can't see
– theglobeandmail.com
A roundup of investment ideas for active investors
Q If I’m an American living in Canada, have a TFSA, but never used it to invest, just holding it as a savings account, do I still need to report it on the U.S. tax return? If so, what forms are required?
—Thanks, Jimmy
A Any income received in a TFSA needs to be included on a U.S. tax return as income. In addition, if the account is set up as a trust (look for an Agreement of Trust in the fine print of the application), you will need to file foreign trust forms (Forms 3520-A & 3520) with the IRS each year.
Failure to file or late filing of either of these forms, when required, can attract a $10,000 U.S. penalty. Further, if you have mutual funds or ETFs as investments, you may also have to file Form 8621 to report the existence of/and income from a PFIC (passive foreign investment company).
The taxation of these types of investments can be punitive if not dealt with early and by a tax professional that understands the tax regulations around them.
Cleo Hamel is a senior tax expert with American Expat Taxes in Calgary
Ask a Tax Expert: Leave your question for Cleo Hamel »
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