Money Sense

[cc]

Canadian mutuals, ETFs etc that hold US stocks are OK in a TFSA, right?

[Anonymous]

Canadian mutuals, ETFs etc that hold US stocks are OK in a TFSA, right?

The Income Tax Act states that in order for a stock to be a qualified investment for a TFSA, it generally must be listed on a designated stock exchange. The Department of Finance maintains a list on its website of designated exchanges, which includes 41 exchanges in 28 countries. Most US stocks are fine in your TFSA, but you are subjected to withholding tax on dividends from your American stocks. The standard withholding tax rate for dividends on U.S. stocks is 30%.



The same applies to ETFs and mutual funds holding U.S. stocks. To minimize the hit, you might consider holding U.S. stocks (or ETFs listed on U.S. exchanges) in your RRSP or RRIF instead, because retirement accounts are exempt from these withholding taxes.

[Anonymous]

Money is flooding out of Canada at the fastest pace in the developed world as the nation's decade-long oil boom comes to an end and little else looks ready to take the industry's place as an economic driver.

http://business.financialpost.com/investing/global-investor/money-is-flooding-out-of-canada-at-the-fastest-pace-in-the-developed-world">http://business.financialpost.com/inves ... oped-world">http://business.financialpost.com/investing/global-investor/money-is-flooding-out-of-canada-at-the-fastest-pace-in-the-developed-world

[Anonymous]

The Canadian market is in the worst shape I have seen in my career.



http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com%2F%2Fbusiness-2%2Fwhy-canada-is-becoming-the-orphan-equity-market-nobody-wants">http://www.financialpost.com/m/wp/blog. ... body-wants">http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com%2F%2Fbusiness-2%2Fwhy-canada-is-becoming-the-orphan-equity-market-nobody-wants



Canada is the orphan equity market nobody wants.



Hammered by the commodity meltdown all year, shares of some of its biggest corporate icons are now also sliding, driving the benchmark Standard & Poor's/TSX Composite Index toward its lowest level in two years. On Friday, the resource-heavy index capped its longest losing streak in more than a decade, worse than any stretch during the 2008 financial crisis.



"There will be more pain for Canada," said Sadiq Adatia, chief investment officer at Sun Life Global Investments in Toronto. His firm manages about $11.5 billion, and has been underweight Canadian investments for three years in favour of U.S. and international markets. The S&P/TSX will likely fall below 13,000 points in the near term, levels not seen in two years, he said.

[Anonymous]

Oil dropped to it's lowest level in six years, the Canadian dollar closed 3/4 of a cent lower. Bodes well for airline stocks.

[cc]

The Canadian market is in the worst shape I have seen in my career.



http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com%2F%2Fbusiness-2%2Fwhy-canada-is-becoming-the-orphan-equity-market-nobody-wants">http://www.financialpost.com/m/wp/blog. ... body-wants">http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com%2F%2Fbusiness-2%2Fwhy-canada-is-becoming-the-orphan-equity-market-nobody-wants



Canada is the orphan equity market nobody wants.



Hammered by the commodity meltdown all year, shares of some of its biggest corporate icons are now also sliding, driving the benchmark Standard & Poor's/TSX Composite Index toward its lowest level in two years. On Friday, the resource-heavy index capped its longest losing streak in more than a decade, worse than any stretch during the 2008 financial crisis.



"There will be more pain for Canada," said Sadiq Adatia, chief investment officer at Sun Life Global Investments in Toronto. His firm manages about $11.5 billion, and has been underweight Canadian investments for three years in favour of U.S. and international markets. The S&P/TSX will likely fall below 13,000 points in the near term, levels not seen in two years, he said.

Wow. Thanks guy



We have stayed out of it totally the past several months. Looks like one should not dive back in  for some time to come

[Anonymous]

The Canadian market is in the worst shape I have seen in my career.



http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com%2F%2Fbusiness-2%2Fwhy-canada-is-becoming-the-orphan-equity-market-nobody-wants">http://www.financialpost.com/m/wp/blog. ... body-wants">http://www.financialpost.com/m/wp/blog.html?b=business.financialpost.com%2F%2Fbusiness-2%2Fwhy-canada-is-becoming-the-orphan-equity-market-nobody-wants



Canada is the orphan equity market nobody wants.



Hammered by the commodity meltdown all year, shares of some of its biggest corporate icons are now also sliding, driving the benchmark Standard & Poor's/TSX Composite Index toward its lowest level in two years. On Friday, the resource-heavy index capped its longest losing streak in more than a decade, worse than any stretch during the 2008 financial crisis.



"There will be more pain for Canada," said Sadiq Adatia, chief investment officer at Sun Life Global Investments in Toronto. His firm manages about $11.5 billion, and has been underweight Canadian investments for three years in favour of U.S. and international markets. The S&P/TSX will likely fall below 13,000 points in the near term, levels not seen in two years, he said.

Wow. Thanks guy



We have stayed out of it totally the past several months. Looks like one should not dive back in  for some time to come

It's bad for Canada. Dollar is trading at 73 something this morning. Oil is down again and so is the TSX. A person needs to be so smart now to prevent losing more money.

[Anonymous]

The TSX composite finished the day below the psychologically important 13,000 today. The dollar was down to 73.59 cents against the US dollar. Stephen Poloz, the governor of the Bank of Canada, has indicated they are prepared to intervene with stimulative measures if the situation continues to deteriorate. That may include unconventional tools such as negative interest rates.

[Anonymous]

Stephen Poloz is trying to talk down the value of the Canadian dollar.

[Phagdish Hardy]

I am such an effeminate, flaming, white Vancouver homo idiot. Continuation of the low interest rate policy is really the only option in a time of low commodity prices. They get paid in US dollars and the only way this high wage sector will not lay off even more people is with higher revenue, ie higher dollars. I should quit as a florist at my bf's fucking shop and get a real job in a productive industry. I might learn some fucking shit.

[Anonymous]

The Standard & Poor's/TSX Composite Index dropped 226.64 points, or 1.74 per cent, to 12,789.95 points in Toronto, it's lowest level in two years. This gauge tumbled below 13,000 for the first time since 2013. On the week, it was down 3.95 per cent.





The loonie fell 0.61 of a U.S. cent, or 0.83 per cent, to finish at 72.77 cents. The last time Canada's dollar was below 73 cents was in mid-June 2004.



WTI's front-month settled in the $35 territory the first time since February 2009. The contract finished the session down $1.14, or 3 per cent, at $35.62, after hitting an intra-day low at $35.35. WTI's financial crisis low was $32.40 in December 2008.



Please, please, please bring on a strong Santa Claus rally.

[Anonymous]

The Canadian dollar is at an eleven year low. Crude is below $35 and of course the TSX composite is down again.

[Anonymous]

There was some movement later in the day. WTI crude rebounded to $36.31 a barrel. The recovery will be short lived as Iran gets ready to pump more.



The Bloomberg Commodity Index, a basket of prices for natural resources from copper to oil and gold, declined 0.6 per cent. It has lost 26 per cent this year.



In the energy sector, Encana Corp. and Enerplus Corp. lost more than 7.2 per cent. Baytex Energy Corp. fell 5 per cent to a record low, while Bankers Petroleum Ltd. decreased 4.1 per cent after earlier reaching its lowest level since February 2009.



Rogers Communications Inc.'s 1.1-per-cent gain led a 1-per-cent climb in Canadian phone companies.



The consumer staples group climbed 0.6 per cent, with convenience store operator Alimentation Couche-Tard up 1.5 per cent and grocery store chain Loblaw Cos added 1.1 per cent.



U.S. stocks rose, surging in the final minutes of trading as a rebound in crude-oil overshadowed credit market turbulence and weakness in commodity shares before the Federal Reserve prepares to raise interest rates.



The Standard & Poor's 500 Index rose 0.5 per cent to 2,022.08 in New York, after earlier falling as much as 1 per cent. Equities erased declines as crude oil rose more than 2 percent after swinging between gains and losses.

[Anonymous]

The biggest real estate company on the prairies, Royal Lepage foothills in Calgary is going bankrupt.

 

[Anonymous]

The pain continues. The TSX composite lost 156 points to close just above 13,000. The dollar lost almost a full cent to close at 71.68 US and oil was down to closing at $34.95.