The Tax Free Savings Account (TFSA) is a relatively new form of registered account for Canadian's to utilize for investing and tax minimization purposes. Made available at the start of 2009, the TFSA allows eligible Canadian residents (18+) to invest their hard earned money tax free! Well, mostly anyways as there are some rules and qualifications to look out for.
Some quick stats on the TFSA:
The Good Stuff:
- No taxes upon withdrawal of funds.
- No taxes on eligible dividends.
- No taxes on eligible capital gains.
- Cumulative contribution room.
- Once money is withdrawn, contribution room is returned the next year.
- For retirees, money withdrawn does not count against OAS calculations.
The Tricky Stuff:
- Accidentally holding non-eligible investments erases the benefit of the account(Ex. U.S. Stocks).
- Going over the contribution limit means a penalty of 1% of the value over-contributed per month.
- Finding out if a particular investment is eligible or not is not always simple.
Tuesday, 9 December 2014
Friday, 5 December 2014
Started up on Twitter
Just a quick post to mention that I'v now started up a twitter account based on my blog here. As I mentioned in my last blog plan update, I have been pretty busy and unable to post more article/in depth posts than I would like so to help combat that and be more active I will be using Twitter for quick thoughts on how the markets are doing, how stocks on my watchlist are performing and my shortlists for probably buys. Perhaps also a "I wish I had the cash to buy this" kind of thingAlso might be a bit more user friendly for conversations and the like. So if you like my content here feel free to come find me and follow me @Dividend_Wisp on Twitter. :)
Yikes, that was way above 140characters!
Yikes, that was way above 140characters!
Wednesday, 3 December 2014
November 2014: Income and Expsenses
Oh how I miss last months 3x pay period and seeing all that hard earned cash land in my account, and better yet my highest yet in not worked for cash either, with $63.5 in dividends! November was actually fairly good for me as well, with a total income of $1443, with $37.59 in dividends. Those dividends equaled 2.6% of my total income, and covered 3.2% of my expenses for the month.
Sunday, 30 November 2014
November 2014 Dividend Update!
November has been a busy month for me, yet it felt like a long one as well. Now that December is about to begin I'm sure that the month will go by very fast as its Christmas time, which means lots of shopping and running around! However its nice to know that dividends will be landing in my account in a nice, consistent and orderly fashion that requires no effort on my part.
This month brought in a nice amount of income, primarily through my monthly payers though. My total dividend income was $37.59, quite a bit less than last months record of $63.54, but then again October had the majority of my portfolio paying out that month. Although it is a slight increase 14cents from the previous comparable month.
This month brought in a nice amount of income, primarily through my monthly payers though. My total dividend income was $37.59, quite a bit less than last months record of $63.54, but then again October had the majority of my portfolio paying out that month. Although it is a slight increase 14cents from the previous comparable month.
Recent Buy! November 2014
So this month, with a combination of adding some fresh capital to my Questrade Account, redeploying dividends and selling my iShares Canadian bond ETF(CLF) I was able to buy a decent position in Rio-Can REIT, which was on my last Watchlist. I bought 28 shares @ $26.99. Also with some left over cash and an additional dividend payment I purchased 1 share of ZDV @ $17.84.
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