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Buying your first stocks in Canada
– moneysense.ca
Where should you start if you’re a newcomer to Canada who wants to invest? This article provides an overview of the Canadian investing landscape, from investment types and financial markets to investment advisors, online brokers and robo-advisors.
Types of investing accounts
In Canada, there are two types of investment accounts: registered and non-registered. Registered accounts are filed with the Canada Revenue Agency (CRA), the governmental body responsible for overseeing the country’s tax regulations. Investments made within registered accounts benefit from several tax incentives, including tax-free or tax-deferred growth of investments, depending on the type of account. Additionally, certain contributions to registered accounts qualify for tax deductions. More on that below.
Because of these tax benefits, you have limits on the amount of money you can contribute to each type of registered account. In contrast, non-registered accounts are basic investment accounts without any tax benefits…
