Should You Go ALL IN on XEQT or VEQT in 2024? (TFSA / RRSP)

[@DanishGhaziCPA]

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[@DanishGhaziCPA]

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[@iriskoss3032]

Can either one of these ETFs be dripped? Thanks

[@DanishGhaziCPA]

Yes, both XEQT and VEQT can be set up for a Dividend Reinvestment Plan (DRIP) with certain brokerages. However, availability can vary depending on the brokerage you use.

[@dor1994]

Should I keep XEQT in my TFSA? Will it have tax implications because it has US holdings?

[@DanishGhaziCPA]

Thank you so much for engaging with my content! Your support means a lot to me, and I hope you’ll continue to follow and support the channel. XEQT is a great all-equity ETF that provides diversified exposure. However, since it includes US holdings, there are some tax implications to consider. Specifically, the dividends from US stocks within XEQT are subject to a 15% withholding tax by the IRS, which you won’t be able to recover in a TFSA. This means that while you won’t pay Canadian taxes on the dividends, you will lose a portion of the US dividends to withholding tax. Having said that, it's a minimal impact to the tune of ~$100 to $200 for every 100k invested.

[@dor1994]

@@DanishGhaziCPA ahh that's too bad you miss out on the full dividend return, but good at least that you don't have to pay Canadian taxes and that the IRS just withholds their15% from the dividend payout. Thanks for responding!

[@DanishGhaziCPA]

Let me know in the comments which ETF you're leaning towards (XEQT or VEQT) and why?

[@yusuf-oi8hy]

Can you make an updated halal etf list in Canada to invest in

[@DanishGhaziCPA]

My review of a halal ETF: kzbin.info/www/bejne/j5DGp3SaZ7Zrms0 Any additional questions, you can connect with me here: asqme.com/@DanishGhaziCPA

[@gourabsarker9552]

Sir do you earn 200k dollars a year as a CPA in Canada? Plz reply. Thanks a lot.

[@DanishGhaziCPA]

Good question, if you have something specific you're looking for regarding CPA compensation, you can reach out here: asqme.com/@DanishGhaziCPA