How to TRANSFER BETWEEN Accounts QUESTRADE // Move Stocks & Money Tutorial // TFSA, RRSP & Margin

[@CanadianTShirt]

Check out How to OPEN a QUESTRADE Account | Step by Step Walkthrough 👇 kzbin.info/www/bejne/q6Cyc4WLjp18jrM

[@CanadianTShirt]

And be sure to check out my QUESTRADE GUIDE 👇 kzbin.info/aero/PLj8bU3AuW2qEIaIoR89ZHl9enwMJzz9De

[@CanadianTShirt]

As well as my CANADIAN TAX GUIDE 👇 kzbin.info/aero/PLj8bU3AuW2qEA_ik7NOAIkBY02nt7KAPj

[@patriciaweller1516]

Thank you!

[@yehudahservetus]

@@CanadianTShirt This is all super helpful. How do you hold your US Dividend stocks in Questrade? RRSP?

[@CanadianTShirt]

@@yehudahservetus absolutely! All of my high yield US dividend stocks are in my RRSP. For US growth stocks, I can hold them in my Margin account since US capital gains are taxed favourably (the same as Canadian capital gains) =)

[@CrispyAssasin_-td3rr]

You simplify things in a way anyone can understand. keep doing what you do. Hoping your channel grows bigger

[@CanadianTShirt]

Thank you so much for that! That's what I try to do and I'm glad that my videos are accessible to everyone 🙏

[@FilipeDeschamps]

You are the best youtuber in this area. I’m a Brazilian, living in Canada, and you explain things in a way that show’s how you REALLY care with our investments. Thank you so much 💪👍🤝

[@CanadianTShirt]

Thank you Filipe! I really appreciate that! 🙏 That's the whole reason why I started this KZbin channel in the first place! I know how intimidating and confusing investing can be for beginners so I want to break it down in simple terms and make investing accessible to literally anyone! 😁

[@C4NUR43DM4N4M3]

great content keep it up :)

[@CanadianTShirt]

Thank you Dino! I'm so glad you found it valuable! =)

[@sydneymoore4211]

2020 was all about survival with many achievements not met but you have to be ready for 2021 and it begins right now by making a move to achieve your goals…If you have been saving and it’s not really getting you to were you want to be, then invest that money today for a better life tomorrow. If you can’t fly, run, if you can’t run walk, if you can’t walk crawl but just try and move to achieving your goals..

[@sydneymoore4211]

@Smallwood I totally agree with you, it’s been an opening experience for a lot of people

[@kurshlnjoseph71]

Nice video , I just discovered that bitcoin trading is now one of the fastest way to make money online…it’s really a life changer

[@Kelly-nz5iq]

@@kurshlnjoseph71 Honestly I don’t comment on this section, But I must say this, people don’t understand that this is a great opportunity.

[@PaulineLoyson]

Thanks for making these videos. I finally decided to open a Questrade account as my bank was bleeding me dry with commission fees for ETFs. Your videos are so easy to follow. 👍

[@CanadianTShirt]

Thank you Pauline! I really appreciate that and you're absolutely right.... For the longest time, there was no other option other than the banks and they generally tend to milk you for all your worth with fees. Now with Questrade and other newcomers like WealthSimple, we have much better and cheaper options! =)

[@stefaniesiska2345]

So grateful for this video Adrian. The timing was perfect. I was going to sell some stock in my TFSA to then repurchase in my RRSP. You just saved me some cash! 🙏

[@CanadianTShirt]

Absolutely! I'm glad you found my video in time! 😁

[@billdomi9374]

This newb here was wondering why my average went from 1.45 in the margin account, down to 1.17 when I transferred those stocks to my TFSA lol Wish I knew about this when the price was under a buck. Thanks for your videos ,, you're awesome!!

[@CanadianTShirt]

It's my pleasure Bill, I'm happy I was able to help! So when you transfer stocks between accounts, your Book Value is only the book value while it was in that account (NOT the original book value when you first bought the stocks in your Margin account) You can always go back through your transaction history and find out your book value when you first bought those shares but it's designed to treat each account separately. So it's treated as if you recently purchased those shares in your TFSA directly =)

[@coltukkor]

Never figured I could be a DIY investor but watching your videos is giving me a lot of confidence. I feel much more prepared every time I watch a new video.Thank you. So if I’m following along correctly (and keeping things simple) a Margin account transfer of units =$6000 CDN worth of stocks, with a 10% capital gain from the time of purchase, into a TFSA would be treated as $300 added to your income and taxed according to your income tax bracket in the following year. While any other leftover funds in the margin account would remain untaxed until they are sold or transferred. Sound about right?

[@CanadianTShirt]

I'm so happy to hear that! That's why I started this channel in the first place, to give beginners the confidence to take their financial future into their own hands! =)

[@CanadianTShirt]

And yes you are correct! If you transfer $6K and you made $600 worth of profit (capital gains) you only pay taxes on half of that profit so $300 will be taxed under your normal marginal tax. All the remaining investments in the margin account are NOT taxed until you decide to sell those stocks (for a profit) or transfer them into a TFSA or RRSP. Until you sell a stock, you have NOT actually made a profit and so you're not taxed until you sell =)

[@filb]

Thanks, I just had bought shares of Vici (a US stock Reit) and I accidentally bought it in my TFSA instead of my RRSP. Thankfully Questrade has that option.

[@CanadianTShirt]

You got it! You definitely don't want to be paying that 15% withholding tax on a high yield US REIT! The RRSP is definitely the way to go =)

[@stormtrop4]

Very informative! Wish there was a built-in system to track your TFSA contributions updated more frequently than the CRA. I'm always freaked out I'm over the limit, especially when I'm in invested into Questrade and the drips add up (yes I know they don't count as contributions, yay).

[@CanadianTShirt]

I hear what you're saying but there would be data protection and privacy issues if a website, even a bank had access to ALL of your TFSA contributions across multiple financial services... That's why YOU are the only one who knows how much money you've put into your TFSA and that's why it's your responsibility to track it! =)

[@erikg8220]

Why would I use the closing price when I can just use the Low of the day?

[@jessicawong4]

Thank you so much your videos are so easy to understand! I am so thankful for this video!

[@CanadianTShirt]

It's my pleasure Jessica! I'm glad you found it so helpful! =)

[@kerenchen1800]

Great vid! Will you make an update to this video including the FHSA?

[@CanadianTShirt]

The same steps apply for all of the accounts! You will still submit a transfer request through Questrade =)

[@lsz0719]

Great video as always, Adrian! When transferring stocks to RRSP/TFSA, why don't we want to use the low of day price so that they take up the least amount of the contribution room? By the end of a trading day, the low of day price would be a fixed amount and we can calculate the exact amount as well just like the closing price, so there won't be any surprise.

[@CanadianTShirt]

Whenever it comes to the CRA, you have to be very careful to be consistent with how you track transactions. For example, you can't use the "daily low" method for some transactions when it works in your favour but then use another method in other situations. You should definitely stick to one method across the board, so that you can justify it if you are audited and generally speaking, using the closing price is the common practice. I hope that helps =)

[@nuke7777777]

highly underrated video. huge thanks for the explanation!

[@CanadianTShirt]

Thank you! I'm glad you found it helpful! I wish more people new about this powerful feature! =)

[@nuke7777777]

@@CanadianTShirt so im planning to transfer my loosing stock from margin to tfsa account that im planning to hold for at least 10 years. As I understand it, if I transfer it now to tfsa at a loss, I am not qualified for capital lose. But if I sell in my margin account and then transfer the money to tfsa account and buy the same amount of share then should I not be qualified for capital loss?

[@CanadianTShirt]

@@nuke7777777 remember to watch out for the superficial loss rule! If you sell it for a loss, move the cash and then buy it back in your TFSA, you're breaking superficial loss rule. You can't get it both ways, getting the tax benefit and moving to the TFSA. If you want to KEEP the stock, just transfer it. If you don't want to keep it, then sell the stock, claim the tax benefit and then move the cash into your TFSA and buy something else =)

[@nuke7777777]

@@CanadianTShirt thanks Adrian! glad to have people like you in the community!

[@theadoresnibblegoober6258]

Awesome video. I watched it twice lol because of your talking speed.👍

[@CanadianTShirt]

Thank you Theadore! naturally talk fast and I have a LOT of info to get through in 20 minutes. If I didn't talk fast, these videos would easily be over 30 minutes and no one wants that. This is why I put the text overlays and I also manually write out English subtitles to help people follow along! If you'd like to slow the video down, hit the Settings (gear icon) and change the Playback Speed to 75%. I hope that helps! =)

[@theadoresnibblegoober6258]

@@CanadianTShirt keep it up, I learning what Wall Street is not telling us. You keep pulling the curtain back for up use common (retail) investor why Wall Street fat cats hate. 👍👍👍👍👍

[@selvi7962]

Enjoy your videos! Can you please make a video on non-registered/margin account?..their purpose, what's best to hold in them, tax implications, how to open 1 in Questrade. Thanks

[@sidb9540]

Great,Great, GREAT video! Thanks a TON, bro!!!

[@CanadianTShirt]

Thanks buddy! I'm glad you found it so helpful! =)

[@rocelletiu7188]

Thank you very much. This video was very helpful.

[@CanadianTShirt]

Thank you Rocelle! I'm glad you found it useful! Happy long weekend! 😁

[@6Dicesare]

Big fan of your videos! Have been watching since the start of Covid and you definitely know you stuff. Would you consider making a video specific to margin (taxable) accounts, what types of investments to hold in them, etc? Thanks

[@CanadianTShirt]

You read my mind! That video is DEFINITELY coming! There is a TON to talk about! And thank you so much for those kind words and for sticking with my channel for so long! 🙏

[@6Dicesare]

@@CanadianTShirt Looking forward to it! Keep up the great work

[@slautensach4720]

When should l open a margin account and what is it? Thank you for doing a fabulous job in teaching us financial literacy/Questrade. Our tax system is a huge problem for most people to get a grip on...so your videos are much appreciated!

[@yetesfan]

Margin account is a non-registered account, which you pay taxes on capital gains. You can open it when you maxed out the TFSA and RRSP accounts-reached maximum contribution.

[@youssefahmed7576]

FKN AMAZING VALUEABLE INFO.. THANK YOU SIR!!

[@CanadianTShirt]

My pleasure! I'm glad that you found my videos so helpful! =)

[@jashanjotkailay]

Great video Adrien. Very informative. Hopefully, your real estate transaction ended up going well. I'd love you to make a video on that.

[@CanadianTShirt]

Thank you Jashanjot! It has certainly been a journey so far! We were able to close on the deal but we're not out of the woods just yet, still working on securing the best mortgage and other closing considerations! I will definitely be making a series of videos on Real Estate Investing and I can certainly talk about my own personal experiences as well! =)

[@ravinalam9789]

Thank you so much for making such amazing videos and I am wondering to see if you can make a video on how to transfer US stocks(For example from RObinhood) to Canadian accounts like questrade. Just like many people, I recently moved to Canada and I still have lots of holdings in US that needs to be transferred. Really appreciate it!

[@CanadianTShirt]

Hey Ravi! Check out my tutorial on How to Transfer Money and Stocks from your bank and broker into Questrade! kzbin.info/www/bejne/eJeUq6icg9GEic0 Note that all of my experience is with transferring from CANADIAN banks and brokers into Questrade. I've never dealt with US brokers so you might need to contact Questrade support or the support line of your US broker to make that transfer happen! =)

[@howardbetts9133]

Thanks Andre. Can you clarify the difference between a TFSA (self directed) vs a TFSA (questwealth). Which one are you referencing in this video...or does this video apply to both? Also, what is the interest charges warning at the bottom of the transfer investments page ie. "If there are insufficient funds to cover the amount, a negative balance is subject to interest charges."? Insufficient funds for what? Doesn't this warning only apply to transferring cash funds?

[@siddharthakarra4934]

excellent video !!. Thank you. :)

[@CanadianTShirt]

It's my pleasure! I'm glad you found this video helpful! =)

[@nevillejames2200]

Love your content. I hope you are doing well. Would you be open to talk about fractional buying on wealthsimple? Sometimes I don't have enough money to buy a full share of a US stock on questrade but I wonder if it worth buying a fractional US share on wealthsimple ?

[@rajdevil3]

Great video Adrian. Thanks for all this info. I do have a question. When I transfer a stock from my TFSA to RRSP, if the stock value is gone down, this will be essentially (1) selling at a lose (2) losing the contribution room in TFSA, correct?

[@CanadianTShirt]

Technically yes, it will be treated as a TFSA withdrawal and if your stock is down then yes, you will essentially be losing TFSA room. So it's a judgement call, you can either wait for it to recover and then transfer to your RRSP but in the meantime, you'll be paying 15% withholding taxes on those dividends if it is a US stock.... I hope that helps! =)

[@TheDowntownToronto]

Love your videos!

[@CanadianTShirt]

Thank you Max! I'm happy to hear that! 😁

[@TylerBelmont]

This video came along EXACTLY when I needed it to. Thank you!

[@CanadianTShirt]

Perfect timing!!!! It was meant to be! 😁

[@mohammadaarifkhan737]

One more Awesome video! I have a question - If I bought some stocks a month back at $50/each (current value of which is $80/each) in my margin account and I decided to transfer it to the TFSA account. Am I going to loose my capital gains in this transfer as I have to choose a recent price for my transfer?

[@CanadianTShirt]

You will be taxed on those capital gains! Since you're moving from a taxable account to a tax-free account, you will be taxed on that $30 profit as if you sold it!

[@CanadianTShirt]

But once it's in your TFSA, you never have to worry about capital gains again =)

[@qaz7771981]

Thanks you’re awesome!!!

[@CanadianTShirt]

Right back at you! I'm glad you found this video helpful! =)

[@HusamYacoub]

Can you please explain how to transfer investments between two TFSA components account Canadian and Us?

[@CanadianTShirt]

I'm confused, do you mean in a Questrade TFSA account? You can hold BOTH CAD and USD investments in the SAME Questrade account.... it's not like other brokers where they separate the CAD and USD into two different accounts....

[@HusamYacoub]

@@CanadianTShirt I bought US stocks and held them in Canadian dollars by mistake in my Canadian TFSA account, I have US TFSA account also at the same broker. Would it better to transfer back the securities from the Canadian TFSA to the Us TFSA account in US dollars? And would I lose a lot with the currency exchange now?

[@HusamYacoub]

Here's the question. thank you in advance

[@pooyatolideh9527]

Hi Adrian, Firstly amazing videos! Can't thank you enough for freely sharing all this finance knowledge. I also got a question - from what I gather, the logical goal of investing in stocks is 10+ year yield. But what if the goal is to save for property down-payment in the near future? What investing strategy do you recommend? I feel like just keeping large sums of money in a high-interest saving account is not that beneficial. Really appreciate any thoughts or advice!

[@CanadianTShirt]

Make sure you check out this video on Stock Market Basics! kzbin.info/www/bejne/rpDGYYyHjqqXZsk Basically the stock market is historically "guaranteed" to be profitable in the LONG TERM! But if you are looking over the course of a year or two, there is still a decent chance (historically speaking about 20%) that you will LOSE money if you sell in the short term...

[@CanadianTShirt]

That's why I always say ONLY invest with money that you will NOT NEED for at least 3 to 5 years! If you NEED this money next year for a down payment, do NOT risk investing in the stock market! I know that savings accounts are really weak right now but at least that money is SAFE and it will NOT go down in value. You can rely on that money and it will be there for you when you need it =)

[@CanadianTShirt]

The best savings account in Canada right now is EQ Bank, they offer an interest rate of 1.25% (it used to be 2.5% but with interest rates plummeting, this is the best you'll find) Use my referral link below if you'd like to open an account =) api.fintelconnect.com/t/l/5f0699315cf09e001bd26973

[@pooyatolideh9527]

@@CanadianTShirt Thanks Adrian! That makes sense. As interesting as stock market is, I think the risk you mentioned is not worth it if money's for a down payment. I heard of EQ, and will definitely look into opening up an account with them.

[@paullee001]

Very useful. Thks!!

[@CanadianTShirt]

Thanks Paul! I'm glad you found it useful! =)

[@luisdemetrio3053]

What happens from LIRA to TFSA?

[@CanadianTShirt]

LIRA is locked-in!!! Usually you cannot transfer out of a LIRA, if you can there will be tax implications like with the RRSP =)

[@karimkarami2797]

Great job. I am super fan of your videos (as always).

[@CanadianTShirt]

Thanks buddy! I'm so happy to hear that you find value in my videos! 🙏

[@RobWong-ws4fs]

Great video. Just looking to get some clarification. I withdrew money from my TFSA in February. If what I'm seeing from this video is correct, the best thing I should do is invest in a margin account for the rest of the year and then on Jan 1, 2024, I should transfer everything from my margin account into my TFSA as a contribution. Is that right?

[@CanadianTShirt]

That's one of the classic mistakes that I cover in my TFSA MISTAKES video here: kzbin.info/www/bejne/qWXGc5yYgaaHhbc Try to avoid withdrawing from your TFSA in January or February since you'll have to wait a whole year to put that money back into your TFSA! Instead, if you withdraw in Nov or Dec, you can put that money back in just one month!

[@CanadianTShirt]

In your case, it depends if your TFSA is maxed out. If you still have remaining TFSA room, then focus on investing there until you're maxed out. Also consider the RRSP and RESP account if you have kids. Once all your tax-sheltered accounts are maxed out, then yes you can invest in your Margin account and then on January when you get new room, you can transfer those stocks from your Margin into your TFSA to max it out once again =)

[@RobWong-ws4fs]

@@CanadianTShirt Great. Thanks so much for the help. Keep up the great conten!

[@CanadianTShirt]

@@RobWong-ws4fs you got it buddy! I'm happy to help! 🙏

[@emiliomigliozzi294]

Is there a chance that you can explain the process of an inheritance... t1 t3 t19 and release form

[@CanadianTShirt]

I don't have any personal experience with inheritances so I don't want to give advice on things that I don't have expertise on. You should contact an attorney who specializes in wills and inheritance =)

[@musadoski]

Can you do one on Wealthsimple and TD accounts pleas? Love you videos.

[@CanadianTShirt]

I'll be making a whole video comparing WealthSimple and Questrade. WealthSimple is very limited when it comes to transferring between accounts... in fact you can't do ANY transfer at all with RRSP accounts... That's one of the main downsides of WealthSimple, it's cheap for buying stocks but it has a lot of limitations...

[@trickpatdolla5329]

BUUUUTTTTT, it's FREE to buy and sell stocks. That's huge if you're a furious trader like myself. Many small movements is what this guy's all about and Wealthsimple has no downside on that front for me. 5 bucks a trade adds up quickly for me!

[@CanadianTShirt]

@@trickpatdolla5329 I don't suggest day trading, especially for beginners... it's incredibly risky and volatile and if you don't know what you're doing, you can lose a TON of money. That being said, if you're trading CANADIAN stocks, then WealthSimple is okay but with trading, timing is everything and that 15-minute price delay is killer...

[@CanadianTShirt]

@@trickpatdolla5329 but if you are trading US stocks, please don't use WealthSimple... You can't hold USD with WealthSimple and so EVERY TIME you buy or sell a US stock, you WILL be charged a 1.5% conversion fee! That can be hundreds or thousands of dollars! It is WAY cheaper to spend $5 commission on Questrade in that case =)

[@trickpatdolla5329]

Oh, I'm most certainly NOT a day trader, but I invest smaller amounts in about 5 key stocks I have in my portfolio. Easily over 10 per month but always with the goal of keeping what I have long term. I now realize I'm gonna need to use Questrade if I want to get into the US market. Thank you for this, man!

[@katydidnt3906]

What about the scenario of transferring out of an RRSP to a TFSA when you are nearing retirement and are already in the lowest tax bracket? i.e., an RRSP meltdown?

[@oscarhanzely110]

Nobody answers one question: can you transfer between two RRSP accounts in questrade ? Let's say you want to consolidate your positions ?

[@CanadianTShirt]

Yes you definitely can transfer between two RRSP accounts but that is a very rare situation.... May I ask why you have more than one RRSP account within Questrade?

[@express456]

Does it count as a contribution if I am transferring TFSA cash from one financial institution to another (I.e. TD TFSA to Questrade TFSA)?

[@CanadianTShirt]

No it doesn't! It won't affect your contribution room at all plus Questrade will reimburse you any transfer fees that TD charges. I have a WHOLE video tutorial on how that works, check it out =) kzbin.info/www/bejne/eJeUq6icg9GEic0

[@greyowlaudio]

Do you know if that contribution room fact is true for warrants as well? For instance, if I have a share purchase warrant at $1 but today the stock is trading at $10, if I exercise that warrant in a TFSA, does it count as taking up $1 of space or $10 of space?

[@CanadianTShirt]

I don't recommend trading options in a TFSA since it is riskier, you can permanently lose that contribution room and you run the risk of being taxed and penalized if you're classified as "active trading"

[@gautham0615]

How long does it take for a fund transfer (CAD) from margin to TFSA? It's been hours but I dont find the cash in my TFSA yet. I'm sorry if this was told in the video already, but I couldn't find this detail.

[@cindypoliquin]

Awesome video, thank you so much for the useful content. I do have one question regarding selling and buying ETF in a RRSP account on Questrade. If i have X ETF and wanna get rid of it and buy Y ETF (all in my RRSP account), is it gonna count as a withdrawal and contribution of my RRSP? Does it have an incidence on my taxes since it all stays in my RRSP account ? For exemple, if after a year holding on a ETF, i decide that it no longer aligns with my strategy and wanna get rid of it and buy a new ETF that aligns more with my long terme objective. Thank you so much !

[@giblicker]

Hey Adrian , awesome info as I’ve been feverishly watching many of your videos . With only days to spare I’ve decided to take the 30k in my TD tfsa (unfortunately sitting as cash) and invest in an RSP through questrade . My question is because I would like this to fall under my 2022 tax year my only option sounds like a transfer from tfsa to chequing account then transfer to newly acquired questrade rsp account ?

[@RelaxBreatheUnwind]

Can you help clarify one thing, Adrian ? If I want to transfers shares of AAPL from my margin to RRSP, will I be taxed on the capital gain on those AAPL share that I have accumulated so far - say I have a total capital gain on $5k on those shares ? Or just on the appreciation of the share price from the day/time I request the transfer vs. when it gets settled ?

[@steven3474]

Thanks a lot!

[@CanadianTShirt]

My pleasure! I'm glad you found it helpful! Enjoy the long weekend! 😁

[@Smrithee08]

Thanks so much for all the informative videos.. I wonder how long does it take to withdraw money from questrade to one's bank account?

[@CanadianTShirt]

It's very easy! Especially if it's a non-registered or TFSA account. If it's an RRSP, there's an extra step and you will have to pay withholding taxes since it's subject to government regulations but in my experience, the money reaches my bank account in one to two business days =)

[@Smrithee08]

@@CanadianTShirt Thanks so kindly :)

[@johngaddye1719]

Any idea why questrade would need even 1 business day to transfer cash between margin accounts. ?

[@CanadianTShirt]

You have more than one Margin account under your name? You want to transfer cash from one Margin account into another Margin account? May I ask why you have more than one?

[@erikg8220]

If I was planning on keeping a losing stock that I wanted to transfer from margin to TFSA, why wouldn't I just sell the stock instead of transferring, to claim a capital loss then rebuy it it my TFSA?

[@ulyhpiga3830]

Great video. I want to transfer from my Questwealth account that had unrealized gains of 40% since inception but only just a portion of that gains to TFSA or RRSP. Since QuestWealth account are managed and a pool of ETF in one portfolio, can you tell me tax implications on this transfer ? Can i do only cash transfer on this ? Your response would be appreciated

[@jamespalmer421]

Great video! Question - if I transfer RRSP investments to a TFSA, how will Questrade collect the withholding tax since everything's in investments, not cash?

[@CanadianTShirt]

Again I STRONGLY advice against doing an RRSP to TFSA transfer.. but if you must do it, I would suggest doing a cash transfer. This way the withholding tax will be applied as if you withdrew the cash and then deposited into your TFSA. If you do an in-kind transfer out of your RRSP, the will likely automatically sell enough shares to cover the withholding tax. Again, I've never done this and I don't recommend this to anyone but Questrade MUST collect that withholding tax from you and give it to the government so it's out of their control. I hope that helps!

[@jamespalmer421]

@@CanadianTShirt I looked it up, and in order to make the transfer you have to have the witholding tax amount in your RRSP as cash (along with the deregistration fees). And there are lots of good reasons to take money out of your RRSP. You don't put it in there to be in there forever! You just have to have a plan and understand the taxes. (For example, right now I'm putting money into my wife's Spousal RRSP with the specific intention of starting to draw it out before retirement because she doesn't work and this will save us tonnes on income tax. But yes, for most people, they will not want to pull funds out of RRSPs until they retire.)

[@amirrafieravandi9249]

Hi, thanks for your great videos. I just wanted to see where can I learn more about trading? Where do you recomend to take coursed from? Thanks

[@CanadianTShirt]

Would it be selfish to point you towards my own channel! 😅 Check out my Millennial Investing Guide Playlist (green thumbnails) to learn all of the basics of investing in Canada! =) kzbin.info/aero/PLj8bU3AuW2qEVri8g-ErBL65ng98iAf5g

[@sandhusukhi]

Thanks a lot man.. I have a question.. I only have a margin account as of now .. but i want to transfer everything from Margin account to TFSA account ... so do i need to open a TFSA account with another 1000 dollars or is there a way to open a TFSA account without depositing another 1000 and then transfer everything from Margin to TFSA. I hope i am making sense 😁😁

[@CanadianTShirt]

I hear what you're saying! You'll have to open a new TFSA account and if you want to AUTOMATICALLY activate it, you'll need to put in $1000 as an initial deposit. However, if you plan on transferring money into the TFSA instead, contact Questrade support and they can MANUALLY activate your account! And then just follow the same steps in this video =)

[@fredylopez1700]

Yes I have the same problem, can this apply for US stocks as well? Also are there fees apply when I transfer my funds from my margin account? Thanks

[@sujithasusanraj3687]

I am new to investing in Canada and I find your videos really helpful. Thank you for giving us such great content. I would like to know your views on portfolio ETFs like vbal, vgro. Would you recommend that over purchasing individual ETFs?

[@CanadianTShirt]

Hey Sujitha! Welcome to my channel and I'm so glad you've found my videos helpful! 🙏 I get the VGRO question all the time. I think it is a great option for really passive investors, you just put money in, set-it-and-forget-it and like you said, it has incredibly built-in diversification and market exposure. Personally, I avoid these all-in-one packaged ETFs. VGRO is just a collection of 7 ETFs. I would rather just invest in these ETFs directly and in doing so, I can control exactly which account should go where to minimize my taxes rather than just lumping them all in your TFSA and paying the withholding tax as you mentioned. It's a bit more work, but I like having full control of my investments. But for people who don't want the hassle of diversifying their portfolio themselves, I think VGRO is an awesome product and MUCH better than going through a mutual fund! I hope that helps! =)

[@sujithasusanraj3687]

@@CanadianTShirt Thanks for your response 🙂. I started my investment journey in Canada by following your videos. Thanks again for the great content 👍

[@sujithasusanraj3687]

@@CanadianTShirt I have a question regarding the withholding tax. I understood that it is only applicable on dividends that we get on any investments outside Canada if held in a TFSA. How is the withholding tax applicable to VGRO as it is not a dividend ETF?

[@CanadianTShirt]

​@@sujithasusanraj3687 well VGRO is an ETF which contains other ETFs and some of those have US or international dividends! In that case, those dividends WILL be charged that 15% withholding tax! That's why, in order to maximize my tax efficiency, I don't hold all-in-one ETFs like VGRO. Instead, I personally choose my US dividends and I hold them in my RRSP to be tax free and then I choose my Canadian dividends and hold them in my TFSA =)

[@sujithasusanraj3687]

@@CanadianTShirt thanks for clarifying 👍

[@DarkAngel-cj6sx]

Thank you

[@CanadianTShirt]

My pleasure! I'm glad I could help! =)

[@McNuggetEh]

Is there a time restriction on when to do a stock transfer? I tried late in the evening (PST) but I could not select anything to transfer. Thanks!

[@CanadianTShirt]

It shouldn't be restricted based on time... It sounds like you might have a memory issue with your web browser. I suggest clearing your cache and restarting and hopefully it will work =)

[@McNuggetEh]

@@CanadianTShirt After added troubleshooting, it looks as though it can be challenging to select the ticker symbol box without a Tab Button.I tried MacOS, Windows and IOS, on Safari, Chrome & Firefox and the dedicated Questrade App (Apple IOS). When selecting with a mouse or on a touch screen (like an iPad) the button would not work. It did finally work in conjunction with a manual keyboard using tab or option tab in Firefox. Thanks for your input, it helped narrow down the issue.

[@McNuggetEh]

Correction. While I could enter a symbol, it would still not pull a result. After contacting questrade via phone, they were able to confirm it was a platform wide issue that should be resolved in the next week (JAN26/2023) and completed the transfer on my behalf.

[@kabd1783]

How do I transfer money out of QUESTRADE back into my bank account?

[@CanadianTShirt]

You would just go to Requests -> Withdraw Funds and then that money will be deposited back into your bank account =)

[@jefflight3329]

Great video :)

[@CanadianTShirt]

Thanks buddy! I hope you found some value in there! Happy long weekend! 😁

[@anismaaloul7705]

Great video. Do you think that the transfer from TFSA to RESP (for education) is also considered as a new contribution to the RESP and will therefore be eligible for grants? Thanks.

[@CanadianTShirt]

Yes it would certainly be considered a contribution to the RESP and it would take away available room and yes, you would be eligible for the matching 20% grants (up to $500 per year of course for RESP matching) =)

[@anismaaloul7705]

@@CanadianTShirt Thank you.

[@westbay5858]

Can I transfer from my TD Bank RRSP GIC Term deposit to my Questrade TFSA? How do I do this?

[@CanadianTShirt]

Unfortunately if it's a GIC, that money is locked in until it reaches the maturity date. That's why I can't stand GICs, especially now with such low interest rates that are far below inflation....

[@ginocolello4241]

Hi Adrian, if a transfer is done from RRSP to TFSA ( let said in the case of over contribution) Questrade will charge "Partial de- registration fee" I believe is called, of $50 plus taxes 😳 . Can you confirm if Wealthsimple will do also charge fees?

[@MarioN-ip1zv]

So I have shares of pltr in my margin account and I want to transfer over to my tfsa. I have $900 left in my contribution room for my tfsa. I’d find the exchange rate on the bank of Canada website for the day I do my transfer and calculate the equivalent to $900 Canadian dollars? Obviously won’t be exact but I’d just make sure it’s as close as possible to $900 without being over

[@ronnickel3754]

One thing I was hoping to hear about in this video was transferring stocks/etfs from my Corporate Margin account to my Personal Margin account in Questrade. Are there things to consider that you did not touch on in this video, or are your guidelines pertaining to cashing in stocks with my CM account and those tax implications vs transfer of stocks/etfs when they've gone down and not being able to tax harvest" the same? Hope that's clear. Really appreciate your videos, especially this one, and the one regarding Norberts Gambit (I'm a Canadian that works for US clients that pay me in US dollars and NG has saved me 1,000s in USD>CAD exchange, and the other way around, as well).

[@CanadianTShirt]

Thanks buddy, I'm happy to help! And you bet! If you have a USD source of income, Norbert's Gambit can save you a TON of money! =)

[@CanadianTShirt]

Unfortunately you CANNOT transfer stocks from your corporate account into your personal account. Remember, your corporation is NOT you! It is a completely separate entity! If you want to transfer money from your corporation into your personal account, you will have to pay yourself a salary or dividends, both of which will be taxed in different ways

[@CanadianTShirt]

My advice would be to leave those stocks in your corporate account. Selling the stocks for cash and then paying yourself that cash through dividends and salary is just a lot of unnecessary taxes...

[@ronnickel3754]

Thanks for the advice, and info!

[@CanadianTShirt]

@@ronnickel3754 I'm happy to help! =)

[@1993jhonty]

what happens if i have a stock losing money in my TFSA. If i move it to MARGIN and sell the stock at the loss. Will i be able to get the tax break? How does that work?

[@amankohli8466]

Thank you Adrian. I bought VSP.TO under TFSA this year. Can i transfer it to RRSP to avoid withholding taxes and since i have RRSP contribution room or will I need to sell it?

[@CanadianTShirt]

Unfortunately no! Even if you hold VSP in your RRSP, you won't be able to avoid the withholding taxes since it's a CAD ETF holding US stocks! The withholding tax rules can get complicated when dealing with international ETFs but the only way to avoid withholding taxes on these dividends is to hold a USD version of this ETF and hold it in your RRSP. So your best bet would be something like VOO, which is in USD and tracks the S&P 500. If you hold this in your RRSP, it will be totally tax free! I'll cover this in greater detail in an upcoming video on withholding taxes! =)

[@amankohli8466]

Thank you Adrian 🙏🏻

[@lastempire7302]

Best course of action: Self liquidate your margin/cash account THEN transfer the funds to your registered accounts. Don't try to be cute with CRA, all the loopholes you can think of are already written in the tax criminal codes.

[@CanadianTShirt]

It depends on the situation. For a capital loss on something that you don't want to keep then you should definitely liquidate and do a cash transfer to gain the benefit of the capital loss tax break. But if you don't want to sell, transferring the shares themselves is a perfectly simple and legal option! =)

[@unpainauchocolat008]

Would a cash transfer from a Questrade TFSA into Questwealth count as a withdrawal?

[@CanadianTShirt]

Nope! As long as you are transferring from a TFSA to another TFSA account, it does NOT count as a withdrawal =)

[@samreensagani3196]

I enjoy using questrade but I wanted to know what you think of buying cdn stocks from wealth simple and then transferring it to questrade?

[@CanadianTShirt]

I mean you "can" do that but I don't really see the benefit... it will take two weeks to process the transfer and the only thing you are saving is $5 in commission fees, I really don't think it's worth it but if you want to try it, follow the steps in this video on how to Transfer to Questrade =) kzbin.info/www/bejne/eJeUq6icg9GEic0

[@howardbetts9133]

In January 2024, there is a $1,000 minimum to open a Questrade self-directed TFSA account.

[@CanadianTShirt]

Yes the minimum deposit for Questrade is $1000. Unless you are a younger investor or if you are opening an FHSA, which is only a $250 minimum =)

[@sahadanazary9364]

Hi. Love your vids. Just a question about dividends. Is it better to sign up for DRIP or take dividends as cash and buyback shares. I personnaly take as cash and when it hits 1k with my savings then I buy back shares. Idk if DRIP is better tho.

[@kaitlynlee8746]

Hi!!!If I buy new stocks with dividends (haven’t signed up for DRIP) in my rrsp account, would it affect my contribution room? Wondering if I should leave cash from dividends as cash or keep investing🤔🤔 by the way, thank you always for informative videos 🙏🏼🙏🏼

[@CanadianTShirt]

Nope! Any income you earn inside an RRSP or TFSA (dividends, DRIPs or capital gains) do NOT count as contributions so they do NOT affect your available room at all! Even if you were maxed out and you earned $10,000 in dividends, that would NOT push you over the edge since you earned that money INSIDE the RRSP account =)

[@CanadianTShirt]

There isn't any reason to keep those dividends as cash, use that cash to buy more stocks and ETFs! And you might want to consider signing up for the DRIPs to reinvest those dividends automatically =)

[@titchglover2601]

What about tfsa trading on Canadian dividends

[@CanadianTShirt]

I'm sorry I'm not sure what you mean? Yes you can certainly buy Canadian dividends stocks in a TFSA. But if you mean day trading then NO, do NOT day trade in a TFSA. If the CRA catches you, you will be taxed and penalized...

[@CanadianTShirt]

I talk about this in greater detail in my TFSA MISTAKES video here =) kzbin.info/www/bejne/qWXGc5yYgaaHhbc

[@sarahamidizadeh686]

Thanks for the great content Adrian. I have a growth stock (XQQ.TO) in my TSFA which I would like to transfer this December to my margin account in order to open up room in my TFSA for divided stock. Do you think this is rational? From what I learnt from your channel this is what I'm following: - TSFA: Dividend stock - RRSP: US stock - Margin: Growth stock.

[@BrianKotoka]

So if I had two personal margin accounts I. Questrade and I wanted to transfer money between both accounts same rules apply Eg. Margin account 1 holds ETFs - I want to rotate cash over to Margin account 2 which holds stocks. If there are gains I pay taxes on those gains and I will see the transfer same day in the other account?

[@CanadianTShirt]

To be honest, I don't see the benefit of owning multiple Margin accounts... it's just so much easier having it all in one account. But if you want to have two accounts, you won't pay any taxes or anything when you transfer between them since they are still remaining in a Margin (non-registered account) You only get taxed when you move a stock from a Margin account into a TAX-FREE account! =)

[@BrianKotoka]

@@CanadianTShirt Thanks for the clarification that saved me some additional administration.

[@sumeetsingh4706]

Hi Adrian. I am in bit of a problem. I got a notice from CRA of TFSA overlimit. Now I want to transfer my stock positions from TFSA to Margin account.Since all the market is down and most of the stocks are 50% down. What is the consequence of moving the positions to margin account? Please reply. Thanks

[@JayPatel-op5dh]

I have been watching your videos for a long time...I'm recently moved to Canada 🇨🇦.... My question is " How can we know about the portfolio management services and Daily trade signals providers in Toronto? "

[@CanadianTShirt]

Hey Jay! Welcome to Canada! 🇨🇦 I don't quite understand the question... do you mean how to evaluate different portfolio management services?

[@JayPatel-op5dh]

Yes @@CanadianTShirt

[@xxxstephh]

I’ve maxed out my TFSA, should I still be using my RRSP even though my tax bracket is less than 100k/year? I’m torn between contributing into my RRSP which has 40k ish of room versus using my margin account.

[@CanadianTShirt]

Absolutely! Make sure you check out my RRSP Explained videos below: kzbin.info/aero/PLj8bU3AuW2qHOikk4VRpSDXCZTuH7eUhz

[@CanadianTShirt]

I talk about this many times in my RRSP Explained videos but just because you contribute to your RRSP does NOT mean you HAVE to claim the tax deduction that year! You can carry forward that deduction to a later year when you have a much higher income and then get MUCH MORE in tax savings! And in the meantime, you are STILL getting the benefit of tax sheltered growth. I'll be making a whole video about the RRSP vs Margin account and in the vast majority of cases, the RRSP account wins =)

[@Canadian_Networth]

I have maxed out my TFSA and I'm thinking of Jan 2022. So it's best to wait till 4pm market close to transfer stock. Does it immediately transfer the stock at that time or 9am next day just prior to market open of 9:30am?

[@CanadianTShirt]

To be safe, just wait until market close on January 1. Don't try to gain an extra day and transfer on December 31, you don't want to risk having the CRA claim this as an over-contribution! =)

[@prabalsingh712]

Hi Adrian - I have some USD (say $10K for an example) in my TFSA which I am thinking of transferring into RRSP to buy USD Dividend stocks. If my understanding is correct, when I make this transfer, it will be considered as 1) RRSP Contribution & 2) TFSA withdrawal right ? And I read somewhere that since my TFSA is maxed out for this year, when I transfer out of the TFSA the contribution room for this year will be zero however next year my contribution room will get that $10K back + whatever 2024 room will be. Just was hoping you could shed some light to my understanding. Thank you in advance 🙂

[@Pistonbilly]

I have the same Canadian ETF in my QT RRSP and TFSA. I’m newly self employed and expect my 2024 income to be less than 25k. I’m curious your thoughts on this idea I have been considering. 1. Transfer the ETF from my RRSP into my TFSA 2. Would it be treated the same as if it were transferring money and taxed accordingly ( holding tax) 3. Regardless of the tax implications would the ETF from my RSP simply be added to the one in the TFSA or would it appear as two separate holdings in the same account ? Although the averages are not too different the RRSP ETF is a bit lower than the TFSA holding so would it all just be recalculated and a new over average determined ? My thought of this idea is do it now while I know I will have very little income for the year and perhaps only get dinged 15% -20% tax on the move .

[@CanadianTShirt]

Absolutely do NOT do #1!! As I said in the video, there are plenty of reasons to transfer from an TFSA into an RRSP but do NOT do the reverse!

[@CanadianTShirt]

Transferring from an RRSP into a TFSA gives you no real benefits and it WILL lose you money with taxes! That "transfer" will be considered an RRSP withdrawal. Unless you are retired and in a lower tax bracket, this is NOT a good idea!

[@CanadianTShirt]

For #3, each account is treated separately. If I hold 50 shares of TD in my TFSA and 30 shares of TD in my RRSP, I don't "combine" them together. Those shares are separate. But if I were to transfer those 50 shares from my TFSA into my RRSP, now I would have a total combined 80 shares in my RRSP since it's all in one account now =)

[@CanadianTShirt]

If you know that you will have low income for the year, then this could be a decent move. To avoid paying taxes down the line when you eventually withdraw from the RRSP. But be careful and plan ahead. You don't want to be slapped with a tax bill if you don't need to

[@girishmayer7476]

Please confirm if Esign is valid to transfer RRSP to other OFI

[@CanadianTShirt]

You mean when you submit a transfer request from your bank into Questrade and they ask you to sign that request form? Yes it will definitely be an electronic signature =)

[@Jswindlez]

Hey Adrian, So I can transfer my positions from my rrsp to my tfsa (both within questrade)

[@CanadianTShirt]

Make sure you watch the entire video! I have a whole section devoted to warning against transferring from RRSP to TFSA... Technically you CAN but you will be taxed and you will permanently lose that RRSP contribution room so I would advise against it! =)

[@jobsonsilva8032]

Hello my friend, as always you posting relevant videos 5 stars for you! I have a doubt/problem, losing my contribution history (excel lost) so, the good part is I only use questrade for my RRSP and TFSA, how do I access my past contributions to questrade, TFSA, RRSP. in my CRA account it says that my limit for RRSP is $0.00 and for my TFSA is 15,070.05. I know that last year I didn't contribute. is that right 15k the room? If I make a contribution today, this amount will not be updated immediately, right?

[@patriciaweller1516]

Can you transfer between an EQ bank TFSA and Questrade TFSA is it treated as a withdrawal and deposit making me over contributed in the TFSA?

[@CanadianTShirt]

Absolutely you can Patricia! But make sure you follow the steps in my video here on How to Transfer Money from your Bank into your Questrade TFSA kzbin.info/www/bejne/eJeUq6icg9GEic0

[@CanadianTShirt]

The WRONG way to do it is to withdraw and then make a new contribution, follow the steps in that video and it won't affect your contribution room at all and it won't cost you anything! =)

[@shamsularefinsajib7778]

is withdrawing from FHSA also treated like writhdrawing from RRSP? Like the Room is gone forever?

[@CanadianTShirt]

I talk about this in detail in my FHSA Explained video here! =) kzbin.info/www/bejne/ol7Zd4Vnaa5kaM0

[@CanadianTShirt]

But yes you are NOT supposed to be withdrawing from the FHSA early. The best way is to withdraw it when you buy your first home, that way it is purely tax free!

[@CanadianTShirt]

Otherwise you can also transfer to an RRSP or worst case, you can make a taxable withdrawal. Check out my FHSA Explained video for more details =)

[@amywilkins]

Hello, say I made a lot of money and I would like to take out to buy something nice. How do I do this in a tfsa to my bank account?

[@CanadianTShirt]

That wouldn't be a transfer! That would be a withdrawal!

[@CanadianTShirt]

So just go to Requests -> Withdraw Funds and you'll move that money into your bank account. Then you can do whatever you want with that cash =)

[@CanadianTShirt]

Just be sure to record this number since this counts as a withdrawal and thus it will affect your TFSA contribution room in 2025 =)

[@amywilkins]

@@CanadianTShirt thank you!

[@CanadianTShirt]

Happy to help! =)

[@parimalrane1230]

Can I transfer shares from my margin account to my wife's spousal rrsp account at questrade if I am a contributor and wife is the owner of account ?

[@NicksTaxes]

Thanks Adrian! 👍

[@CanadianTShirt]

Thanks Nick! Enjoy the long weekend! 😁

[@karimkarami2797]

a quick question: What is the tax rate (%) on Capital gains in a margin account.

[@CanadianTShirt]

It depends on your tax bracket! But the good news is that only HALF of your capital gains will actually be taxed! So another way to look at it, is that your capital gains tax rate (%) will be HALF of your marginal tax rate! =)

[@CanadianTShirt]

Let's say you're in a high tax bracket with a 40% marginal tax rate and you earn a bonus of $1000 at work. 40% of that $1000 bonus is lost in taxes so $400. However, if you sold stocks in your Margin account and earned $1000 in capital gains, you are only taxed on HALF of that amount, so you only pay 40% taxes on $500 so your tax bill will be $200. Capital Gains tax is one of the MOST tax efficient forms of income, especially at larger incomes! =)

[@karimkarami2797]

Thanks for clarifications.

[@karimkarami2797]

You are simply the best

[@CanadianTShirt]

@@karimkarami2797 hahaha I'm imagining Tina Turner's voice when I read that but thank you! 🙏

[@maksvlog547]

Done watching! thank you for this new video...I opened my questrade account 10 days ago thru your link and you said I can get a $50 rebate .. I bought ENB and SUncor and they charged me a total of $9.998 commission fee. Why is that? Thank you!

[@CanadianTShirt]

The $50 referral bonus is a rebate, you won’t receive $50 cash. When you buy stocks, you will be charged the commission fee as usual and then Questrade will reimburse you that commission after a few days, for a total rebate amount of $50. I hope that helps =)

[@maksvlog547]

@@CanadianTShirt i see. thank you!

[@nicolelam7796]

I transfered USD from my TFSA to RRSP, I have the rate of that day, but I'm trying to find the exact amount of the equivalent CAD amount, so I started a chat online with their agents, but the agents keep telling me that they don't know the amount, so frustrated.... :(

[@CanadianTShirt]

Go to your Account Activity to see a history of your transactions! Go to Reports -> Account Activity and you should see that transfer there! You will also see the transfer transaction in your Request History! Go to Requests -> Transfer Funds and go to Request History to see the details of that transfer =)

[@nicolelam7796]

@@CanadianTShirt Thanks! but I can still only see the USD amount, not the equivalent CAD amount for that transaction though.. Not sure where to find that amount so that I can calculate my contribution room

[@CanadianTShirt]

@@nicolelam7796 Well if you know the USD amount all you gotta do is find the CAD:USD exchange rate on that day and then you can easily calculated the equivalent CAD amount =)

[@CanadianTShirt]

@@nicolelam7796 As long as you have the USD amount and the exchange rate on that day, you can prove to the CRA what the CAD contribution amount SHOULD be, in case there ever is a discrepancy =)

[@nicolelam7796]

@@CanadianTShirt thank you so much!!! super helpful, I was worried, not any more😀❤

[@San2126]

Can we not transfer TFSA acc to Margin account in Questrade ?

[@CanadianTShirt]

You certainly can but I don't recommend it. It will be considered a TFSA withdrawal and in a Margin account, you will start paying taxes on any income you earn. Generally speaking, you shouldn't be investing in the Margin account until your TFSA is maxed out =)

[@San2126]

@@CanadianTShirt Thank you very much for your reply !

[@rickpacan4497]

What do you recommend for a 18 year old who maxed out her TFSA and has exact money to invest. She plans on going to university in the Fall and may need the money in the 5 year time frame. Margin account or RSP?

[@CanadianTShirt]

I know how expensive being a student can be and there will ALWAYS be unexpected expenses so the majority of her money should be in a High Interest Savings Account to ensure that money is there when she needs it in these next few years! I'm glad she maxed out her TFSA already, that's definitely the best move for her! Investing in the RRSP is also great since she can enjoy tax-free growth AND she can carry forward those RRSP tax deductions for years down the line to reduce her tax bill once she starts working (and paying serious taxes). BUT make sure she understand that the money she puts into the RRSP is money that she will NOT ever expect to use until retirement! TFSA is more flexible and can be withdrawn but RRSP should NOT be touched until retirement!

[@CanadianTShirt]

The good news is that since she is a student she probably has a very low income so she's in the lowest tax bracket! Plus as a student, she has various tuition tax credits so she likely won't pay a cent in taxes anyway these next few years so a Margin account might be a better option for her since if disaster strikes and she needs this money, she can withdraw from it safely unlike an RRSP. I hope that helps! =)

[@rickpacan4497]

@@CanadianTShirt Thanks that is what I was thinking as well and wanted a second opinion. Good advice thanks ! Unfortunately she isn't going to Waterloo.

[@CanadianTShirt]

@@rickpacan4497 I'm glad I could help and major props to her for already maxing out her TFSA and having an interest in investing at such a young age! I WISH I started when I was 18!!! She's already way ahead of the curve! 🔥

[@TripleBes]

Dude, I would enjoy and learn so much with you as my mentor! Could you be my mentor?

[@CanadianTShirt]

Are you asking for one-on-one consulting / mentorship? To be honest, I don't really have the time for that... I know I could make a lot of money going on one or two hour calls with clients but it takes a ton of time and I only really help ONE person. I would much rather spend that time answering comments and helping DOZENS of people in the same amount of time! I hope you understand =)

[@TripleBes]

@@CanadianTShirt Adrian, you're seriously awesome! I appreciate the answer, so happy I came across your YT channel. Teach on!

[@musimusihada]

Thanks for your videos! I have a question about how to transfer the personal account (some stocks in here) of Wealthsimple to any type of account of Questrade. I have tried it once, and Questrade said the personal account of Wealthsimple has not matched any account type of Questrade. It's not margin, tfsa, and rrsp. Do you have any advice about this? I would like to transfer those stocks to rrsp account of Questrade eventually. Thanks!

[@CanadianTShirt]

Well if the WealthSimple account is a non-registered (taxable) account then the Questrade equivalent would be the Margin account! Did you request a transfer by following the steps in this video? kzbin.info/www/bejne/eJeUq6icg9GEic0 It really should be straightforward! Are you with WealthSimple Trade or WealthSimple Invest (the robo-advisor)?

[@CanadianTShirt]

And once you have transferred them to your Margin account in Questrade, then you follow the steps in this video to transfer them to your RRSP =)

[@musimusihada]

@@CanadianTShirt UPDATE! Yes, you were right. I could transfer to Margin account from Wealthsimple personal account. Now I'm waiting to transfer to RRSP from the Margin account. Thanks!

[@musimusihada]

Another question, I have capital gains when I hold stocks in Wealthsimple personal account. I think I have to pay taxes about the capital gains this year even It will transfer to RRSP eventually. Am I right?

[@CanadianTShirt]

@@musimusihada yes you will! I talked about this in the video, when you transfer from a margin to an RRSP, it's treated like a sale so you will be charged capital gains tax when you file your taxes next April

[@melangex2916]

Hi! Thanks for another informative video! I am about to course correct and move my US DIVIDEND ETFs (and US $ collected from them) from TFSA to RRSP to avoid withdrawing tax and have one clarifying question. You mentioned this TFSA-> RRSP transfer would be viewed as a withdrawal from CRA. If so, is it accurate to say that I should expect my TFSA contribution limit next yr to increase by the total transfer amount (so total value of ETF and US$), in addition to 2024 TFSA allowances? Thanks in advance

[@melangex2916]

* total transfer amount being the CAD equivalent of such**?

[@melangex2916]

?

[@trickpatdolla5329]

I have shares in the BMO US Dividend ETF CAD (ZDY) Iin my TFSA. It's traded on the TSX. Are these dividends subject to with holding tax in some way or is it all good since it's on the TSX?

[@CanadianTShirt]

Unfortunately they will be charged the 15% Withholding tax... Even though it is a CAD ETF, the holdings are all US companies so those are all US dividends and thus will be charged the withholding tax. Instead, if you held a USD equivalent ETF and held that in your RRSP, you could avoid the withholding taxes =)

[@trickpatdolla5329]

Damn, thought I had a work around to get into the US market without having to use Questrade and/or paying currency conversion fees. Looks like I'm gonna need a Questrade account after all! Out of curiosity, when do the withholding taxes come out on these investments? On purchase or at some point in the fiscal year? Thanks for the info.

[@CanadianTShirt]

@@trickpatdolla5329 Those withholding taxes are only applied on the DIVIDENDS and they are taken off immediately, as soon as you receive the dividend =)

[@CanadianTShirt]

@@trickpatdolla5329 when buying US stocks, I highly recommend Norbert's Gambit! It allows you to convert CAD into USD without paying any conversion fees! =) kzbin.info/www/bejne/p2e0YpewgJ2pqtU

[@trickpatdolla5329]

Yeah, and that sadly is not an option with Wealthsimple. Or is it?