TSX | TSX Venture Exchange Stock Maintenance Bulletins - Canada NewsWire + MORE Dec 23rd

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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TSX Venture Exchange Stock Maintenance Bulletins – Canada NewsWire

– news.google.ca

TSX Venture Exchange Stock Maintenance Bulletins Canada NewsWire

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Can Canadian investors save tax when a stock’s company goes bankrupt?

– moneysense.ca

Ask MoneySense
The company of a stock I own went bankrupt. Am I able to claim losses? If so, how?

—Jake

Can you save on tax when a company you invest in goes bankrupt?

The short answer is: it depends, Jake. But, I will outline the factors to consider to determine if and how you can claim a deduction on your tax return.

Where do you own the investment?

If you own the stock in a tax-preferred account, such as a registered retirement savings plan (RRSP) or tax-free savings account (TFSA), you do not get any tax relief. This is one of the risks of losing money in RRSPs and TFSAs.

RRSP withdrawals are taxable at rates that generally range from 20% to 50%. If it makes you feel any better, one way to look at it is that you’ve really only lost 50 to 80 cents on the dollar of the investment, since you would not have been able to spend 100% of the withdrawal anyway.

You do not get back any of the lost RRSP nor any additional TFSA contribution room.

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