Stocks - The Best Buys 2

[The Fonz]

Originally Posted by tony-soprano

IBKR and CIBC --IBKR is solid for executing orders quick, plus access to pre market and after market hours unlike the big banks.

Isn’t commission quite pricey with CIBC? I seem to recall it being $30+ per trade

[DownhillGoat]

Originally Posted by The Fonz

Isn’t commission quite pricey with CIBC? I seem to recall it being $30+ per trade

I'm paying $6.95 with CIBC.

[Ashes]

I'm paying $10 per trade with RBC I believe.

Also, glad I loaded up on Palantir during those red weeks. Seems like they are headed upwards again

[Fire]

Originally Posted by Ashes

I'm paying $10 per trade with RBC I believe.

Also, glad I loaded up on Palantir during those red weeks. Seems like they are headed upwards again

Seems like all my speculative stocks are going up lately. Hopefully it continues because I'm still down on a lot of them.

[Fuzz]

Originally Posted by Sr. Mints

Same boat, then I ask myself where I'd put the money and have no idea.

Decided to sell 1/4 of mine at $34. I'd rather grab some profit now, and probably had to much in it anyway. Will see how it moves in the future.

[DoubleK]

XBC can go fork themselves.

Should have known better to invest in Quebec!!!

*shakes fist*

[tony-soprano]

image hosting

[Braden]

ICO.V is small biotech company that got some big news last night, could be an opportunity to make money today. Ive been holding this one for about a month, got in as a real speculative play, and it looks like it may pay off.

[MJK]

Originally Posted by Braden

ICO.V is small biotech company that got some big news last night, could be an opportunity to make money today. Ive been holding this one for about a month, got in as a real speculative play, and it looks like it may pay off.

Chart looks decent, I'll buy some of this to see what happens!

[DoubleK]

Originally Posted by DoubleK

XBC can go fork themselves.

Should have known better to invest in Quebec!!!

*shakes fist*

And now they are being sued by the investors who participated in the last bought deal.

[stampsx2]

Tax question:

I’m an amateur when it comes to stocks and even the word amateur would be an understatement.

I had a tax question if anyone could answer: if i decide to buy a bunch of stocks and lucky me, i make $1000 on them. As far as i understand, if they are in a tfsa they will be tax free but if they are not then how much is the tax? Is it a capital gains tax that i pay or do i get taxed at my regular federal and provincial personal income tax rate with the $1000 getting added to my yearly income?

Anybody know?

[sa226]

If its in an unregistered investment account, and it's not day trading, you're subject to capital gains tax.

If you're day trading I think you're taxed at your regular rate.



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[Slava]

Originally Posted by stampsx2

Tax question:

I’m an amateur when it comes to stocks and even the word amateur would be an understatement.

I had a tax question if anyone could answer: if i decide to buy a bunch of stocks and lucky me, i make $1000 on them. As far as i understand, if they are in a tfsa they will be tax free but if they are not then how much is the tax? Is it a capital gains tax that i pay or do i get taxed at my regular federal and provincial personal income tax rate with the $1000 getting added to my yearly income?

Anybody know?

If it’s non-registered and you have a gain of $1000, you pay taxes on half. It will be $500 x whatever your tax rate is.

[stampsx2]

^^^ thanks guys

[DownhillGoat]

Originally Posted by Slava

If it’s non-registered and you have a gain of $1000, you pay taxes on half. It will be $500 x whatever your tax rate is.

Has that changed in the last decade? I thought it was taxed at 30%

[Enoch Root]

Originally Posted by DownhillGoat

Has that changed in the last decade? I thought it was taxed at 30%

no it has not changed

gains on investments (non-registered) are taxed as capital gains, 50% of which are taxed (and the other 50% create a capital dividend account, which really just means, aren't taxed.

10 years ago in AB, with the highest marginal rate at 39%, cap gains would have been taxed at no more than 19.5% (really, 39% for half of them)

Now that same max is 24% (48% X half)

[speede5]

Originally Posted by DownhillGoat

Has that changed in the last decade? I thought it was taxed at 30%

I think you're thinking of the witholding tax on an rrsp withdrawl. Unregistered investments don't get taxed when you withdraw you have to claim them as capital gains, of which 50% gets added to you net income.

[Enoch Root]

As sa226 mentioned, it is possible for those gains to be taxed as regular income.

If you trade frequently enough, CRA may determine that you are trading as a source of income. If so, all gains are treated as employment income and taxed at your full marginal rate. This is not something to worry about, unless you are buying and selling daily.

[Enoch Root]

Originally Posted by speede5

I think you're thinking of the witholding tax on an rrsp withdrawl. Unregistered investments don't get taxed when you withdraw you have to claim them as capital gains, of which 50% gets added to you net income.

Good call, yes.

If you withdraw funds from your RSP, they are subject to withholding tax. If you withdraw at least $20k, they withhold 30% of it.

(withholding tax isn't a tax rate, you still file at the end of the year, and the amount that you withdrew from your RSP is treated as income, to be taxed at your marginal rate. Then, the amount withheld is a tax credit against that tax owing)

[DownhillGoat]

Originally Posted by speede5

I think you're thinking of the witholding tax on an rrsp withdrawl.

Could be. I thought gains were capped at 30% (of 50% of the gain). Apparently I was mixed up with something anyway. Glad I found that out now actually that changes some things for me for next year.