tag:blogger.com,1999:blog-2194877769644312243.post6169175780863624189..comments2023-04-27T05:18:46.940-04:00Comments on Dividend Wisp: The TFSA and Why I Use ItUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2194877769644312243.post-66360758306255787372014-12-22T01:44:20.976-05:002014-12-22T01:44:20.976-05:00Agreed DivHut, legally dodging those taxes is pret...Agreed DivHut, legally dodging those taxes is pretty nice ;) TFSA is similar to the American ones, however as I mentioned its not quite the same and its also fairly new so there isn't treaty coverage yet between US/CA for this account, so no US stocks for me in there. Our RRSP/RESP however are both perfectly good spots for US stocks to be placed without getting taxed :) One of these days I'll be able to happily announce a new post of Opening my RRSP and DW Buy's America! Dividend Wisphttps://www.blogger.com/profile/05628207037231908519noreply@blogger.comtag:blogger.com,1999:blog-2194877769644312243.post-39603367608070526422014-12-22T01:41:06.237-05:002014-12-22T01:41:06.237-05:00Thanks. Yeah its a big help to those who know a bi...Thanks. Yeah its a big help to those who know a bit of how to use it and don't speculate when they shouldn't. Its just a shame so many people just park their cash there, although for shorter term deposits(6mo-1yr) and if you have no other ability to save, might as well avoid a little bit more income tax. Long term though, the fact it doesn't take away from OAS payments I think will make it a very power retirement investment tool. Hopefully the CRA doesn't change it. As a young guy starting out, I love the idea of its potential for me.Dividend Wisphttps://www.blogger.com/profile/05628207037231908519noreply@blogger.comtag:blogger.com,1999:blog-2194877769644312243.post-6957221864775008252014-12-09T16:53:54.270-05:002014-12-09T16:53:54.270-05:00Anytime you can get a tax break take it. This is s...Anytime you can get a tax break take it. This is similar to IRA or ROTH accounts in the U.S. I have both a taxable account and a ROTH. My Canadian banks are in my ROTH as there is no withholding tax for U.S. citizens holding Canadian stocks in retirement accounts. Thanks for sharing.DivHuthttp://divhut.comnoreply@blogger.comtag:blogger.com,1999:blog-2194877769644312243.post-23224075420895428012014-12-09T13:40:17.679-05:002014-12-09T13:40:17.679-05:00Good overview, DW. I love TFSA. We get taxed at ev...Good overview, DW. I love TFSA. We get taxed at every step of the way...so, a taxbreak is a breath of fresh air.<br /><br />R2RRoadmap2Retirehttps://www.blogger.com/profile/14379818667071736766noreply@blogger.com