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標題: Tax-Free Savings Account (TFSA) [打印本頁]

作者: ACC-HE 時間: 2008-11-19 17:45 標題: Tax-Free Savings Account (TFSA)

Are you going to use it?

Should EVERYONE use it? Why or why not?

What are you going to put inside? GIC? Mutual Funds? Bonds? regular saving accounts?

http://www.budget.gc.ca/2008/pam ... t-depliant2-eng.asp

作者: molamola 時間: 2008-11-19 18:00

yes, cos it is tax free.
Since i cant claim loss from this a/c, i will be very conservative in terms of where to invest.

作者: siuyudim 時間: 2008-11-19 22:25

Yes. I've been waiting since they've announced this tax-free savings account.
Since I have no money, I plan to just put the money in a regular savings account. This way I will always have access to the money. I will consider GIC too, it all depends on the interest rates.

作者: heykevin 時間: 2008-11-19 23:27

原帖由 siuyudim 於 2008-11-19 23:25 發表
I will consider GIC too, it all depends on the interest rates.

It is not a good way to consider GIC. You don't get much money back.
3.25%? 4%? 8%? for a long term?!

作者: pkphilip 時間: 2008-11-19 23:36

ING Direct has the Tax Free Savings accounts a few months already. They are running a promo now that you get twice the interests, and the account will convert to the Tax Free account next year.

I already maxed it out by depositing $5000 in there.

Philip

作者: myversa 時間: 2008-11-20 08:46

I have a tax-free account in ING too.

作者: tripixel 時間: 2008-11-20 11:12

原帖由 pkphilip 於 2008-11-20 00:36 發表
ING Direct has the Tax Free Savings accounts a few months already. They are running a promo now that you get twice the interests, and the account will convert to the Tax Free account next year.

I alr ...

"Open an ING DIRECT promotional tax-free Investment Savings Account today and on December 31st we will double your interest payment. This should be enough to cover any tax you’ll need to pay on interest earned"

so they only will double the interest for this short period of time, not DOUBLE INTEREST for the whole time frame of your investment. correct me if i am wrong. so you maxed out $5,000, and they double your interest which is going to be 2.7% X 2 = 5.4%. let's say you opened the account in early october, so they will pay you $5,000 X 5.4% divided by 12 (months)X 2 (two months oct to dec), which you will end up with $22.50. is that truth? thanks.

作者: tripixel 時間: 2008-11-20 11:18

This is the Canada Revenue Agency web site:

http://www.cra-arc.gc.ca/gncy/bdgt/2008/txfr-eng.html

a bit off topic here, so how many LYK will invest the money in mutual funds these days? (under this tax free saving account), let's say 5 years time frame.

作者: siuyudim 時間: 2008-11-20 11:22 標題: 回復 4# 的帖子

won't GIC be better than regular savings?

作者: ACC-HE 時間: 2008-11-20 11:45

原帖由 siuyudim 於 2008-11-20 12:22 發表
won't GIC be better than regular savings?

Just a little bit higher on interest rate on high-interest saving accounts, but not by a whole lot? I think that is heykevin's point?

[ 本帖最後由 ACC-HE 於 2008-11-20 13:12 編輯 ]

作者: ACC-HE 時間: 2008-11-20 12:14

原帖由 pkphilip 於 2008-11-20 00:36 發表
ING Direct has the Tax Free Savings accounts a few months already. They are running a promo now that you get twice the interests, and the account will convert to the Tax Free account next year.

I alr ...

ING is only offering 2.7% after Dec 31... Can I still transfer 5k out of it and into some other investments?

作者: tripixel 時間: 2008-11-20 14:03

http://www.globeinvestor.com/ser ... icator=R&page=1

Rates of GIC of Financial Institutions. This page is for, "Short-Term Registered". You can click on other three if you want to find out the rate.

作者: ACC-HE 時間: 2008-11-21 11:05

so... what are u guys investing in that account?

just regular hi-saving acct?

作者: tripixel 時間: 2008-11-21 11:25

i will put money in some canadian base mutual funds. TSX from 15,000 point to yesterday's 7,700 points. that's almost a 50% discount. i think is a good buy.

not saying that we are at the "lowest" point right now. but i know my risk level and my time frame. that's why i said is a good buy.

作者: ACC-HE 時間: 2009-1-2 11:49

So.. here it is, 2009!

Where did your 5k go at last??

作者: raima 時間: 2009-1-2 11:56 標題: 回復 5# 的帖子

same here

作者: chunsh 時間: 2009-1-2 11:56

so the account can only have $5000 max. What if I got some interests from that $5000? (assuming 2.7% annual, $11.25)
since 5011.25 > 5000, what would happen to the extra $?

作者: ACC-HE 時間: 2009-1-2 11:59

原帖由 chunsh 於 2009-1-2 12:56 發表
so the account can only have $5000 max. What if I got some interests from that $5000? (assuming 2.7% annual, $11.25)
since 5011.25 > 5000, what would happen to the extra $?

the extra $ is tax free... it will not count as part of your income.

作者: raima 時間: 2009-1-2 13:47 標題: 回復 11# 的帖子

yes, you can open more than one tax free account and you can invest elsewhere but you'll need to make sure the invested tax free account amount total does not exceed $5000

作者: tripixel 時間: 2009-1-6 17:28

I invested $2000 into a canadian equity fund. And set up a monthly plan for $250.

作者: ACC-HE 時間: 2009-1-6 17:29

原帖由 tripixel 於 2009-1-6 18:28 發表
I invested $2000 into a canadian equity fund. And set up a monthly plan for $250.

canadian equity fund? which one?

作者: tripixel 時間: 2009-1-6 17:43

Fidelity Canadian

作者: bluemoon 時間: 2009-1-6 18:21

Not a good idea to use the TFSA as stock account or mutual fund account, holding equity funds. I'd hold equity fund in regular investment account. You lost the benefit of claiming capital loss.

It's better to hold interest-bearing investments.

作者: 快樂牛郎 時間: 2009-1-6 18:46

原帖由 bluemoon 於 2009/1/6 18:21 發表
Not a good idea to use the TFSA as stock account or mutual fund account, holding equity funds. I'd hold equity fund in regular investment account. You lost the benefit of claiming capital loss.

It' ...

So you invest with the expectation of incurring capital loss?
Capital loss is a side product, not a purpose.

作者: bluemoon 時間: 2009-1-6 18:50

You only being tax 50% on cap gain but 100% of interest income. An investor would have portion high risk investment and a portion in low risk investment, why would you overly smart to use the TFSA to hold equity but not the interest-income bearing investment?

who said cap loss is a side product nor a purpose? what are u talking about?

you do not expect your investment would be in capital loss, but it's part of good financial planning to consider the big picture.

原帖由 快樂牛郎 於 2009-1-6 19:46 發表

So you invest with the expectation of incurring capital loss?
Capital loss is a side product, not a purpose.

作者: 快樂牛郎 時間: 2009-1-6 18:55

原帖由 bluemoon 於 2009/1/6 18:50 發表
You only being tax 50% on cap gain but 100% of interest income. An investor would have portion high risk investment and a portion in low risk investment, why would you overly smart to use the TFSA to ...

Because I expect my 50% of capital gain to be way in excess of the paltry "interest" that I receive from the bank in this environment.

The interest rate right now varies from 0% to 4%. However, with the stock market down 50%, your potential capital gain in the next 2 years is most likely somewhere between 50% to 200%. Even if you take 50% of that, it's still 10 times as much as what you get from interest.

I hope you are not a professional financial advisor. Otherwise I feel pity for your clients.

作者: molamola 時間: 2009-1-6 19:20

one would put the most tax inefficient investment in the TFSA in theory, there is nothing wrong with that.

作者: bluemoon 時間: 2009-1-6 19:22

I think any financial advisor telling his client that you can earn 50% capital gain should get fired and retake the code of conduct course. I am sure you are not a financial advisor cause the place you work for would have been pretty screwed up by a banker liked this.

I can only agree with your "plan" if it's for someone that takes the TFSA $5k limit as only a small portion of one's investment. Still, it's kinna dumb to expect you can always on the winning side.

And nah.. i am no financial advisor. it's just common sense.

原帖由 快樂牛郎 於 2009-1-6 19:55 發表

Because I expect my 50% of capital gain to be way in excess of the paltry "interest" that I receive from the bank in this environment.

The interest rate right now varies from 0% to 4%. However, wi ...

作者: 快樂牛郎 時間: 2009-1-6 19:30

原帖由 bluemoon 於 2009/1/6 19:22 發表
I think any financial advisor telling his client that you can earn 50% capital gain should get fired and retake the code of conduct course. I am sure you are not a financial advisor cause the place ...

A financial advisor should be realistic, not only retelling stories from his textbooks. In today's market, it's much more likely to make 50% in two years than the historical average. Of course it's not possible to make that kind of return every year. but investment strategies should vary flexibly based on the current situation, not just sticking with a fixed principle.

I am not claiming my way is better with 100% certainty. But weighing all possibilities, I would say my recommendation has a 80% chance of outperforming yours.

Anyways, financial advisors are people I have the least respect for, so I take every chance to bash them.

[ 本帖最後由快樂牛郎於 2009-1-6 19:32 編輯 ]

作者: 快樂牛郎 時間: 2009-1-6 19:33

原帖由 molamola 於 2009/1/6 19:20 發表
one would put the most tax inefficient investment in the TFSA in theory, there is nothing wrong with that.

Yes, "in theory". But if you only invest according to "theory", I guarantee you will be better off sticking with cash.

作者: 快樂牛郎 時間: 2009-1-6 19:36

我自己就打算用黎day trade
因為day trade理論上都係taxed at 100%
所以都算most efficient

作者: shutterbug 時間: 2009-1-6 19:46

5k to day trade? how much do you want to make???

作者: bluemoon 時間: 2009-1-6 19:50

It neither realistic or retelling story, but unethical to give such advise to clients.  It does not consider as flexible advise.  Also, investment return does not base on historical data.

I agree your way would generate better (and a lot better) return than utilizing the TFSA with least tax efficient investment vehicle, ONLY if you are always on the winning side.  It is so call unrealistic.  And yes, I do hope the market will go back up in the next two years, and regardless the investments is in normal investment account or TFSA.

I would be more incline to hold investment liked monthly income fund in the TFSA than overly high risk equity fund.

And, I have respect to any occupation, including Financial Advisor.

原帖由 快樂牛郎 於 2009-1-6 20:30 發表

A financial advisor should be realistic, not only retelling stories from his textbooks. In today's market, it's much more likely to make 50% in two years than the historical average. Of course it's ...

作者: 快樂牛郎 時間: 2009-1-6 19:53

原帖由 shutterbug 於 2009/1/6 19:46 發表
5k to day trade? how much do you want to make???

多有多賺少有少賺
唔係要一千幾百萬先可以day trade
而且唔使報稅已經係最大既好處
唔係到4月淨係報幾百個transactions都有排煩

尋日先聽曹SIR話用5000蚊3年內賺28萬
響而家呢個環境冇野係唔可能

[ 本帖最後由快樂牛郎於 2009-1-6 19:56 編輯 ]

作者: tripixel 時間: 2009-1-7 01:40

well. like i said in #14 "i will put money in some canadian base mutual funds. TSX from 15,000 point to yesterday's 7,700 points. that's almost a 50% discount. i think is a good buy.

not saying that we are at the "lowest" point right now. but i know my risk level and my time frame. that's why i said is a good buy."

i did not invest all in the market at once, put $2000 in there and set up a monthly investment plan to use dollar cost average to lower my risk. make sense?? or i could invest all the $5000 into money market fund first, then switch it slowly into the market as well.

作者: shutterbug 時間: 2009-1-7 08:25

尋日先聽曹SIR話用5000蚊3年內賺28萬

he's better than warren buffett?

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