Really liked the content. Much needed one for new immigrants to understand investment and related taxes in a new country. Please do upload more such financial related information in layman’s terms for easier understanding . Thank you so much for this content. Please Explain more about stock market investment in coming videos
Hi sir , I am a big fan of yours . Your presentation is so simple and easy to understand for noobs like us. I already started an account in wealth simple. Thank you for your valuable advises
Very useful video and excellent explanation. If we open via RBC direct investment, do you recommend signing up Investment Account (Non-Registered)?] they have 3 types, TFSA, RRSP and Investment Account (Non-Registered). do you know what is Investment Account (Non-Registered) used for?
Thanks. Non registered account means, It can either be a Personal(Cash) or Margin account. Basically you need to pay capital gain taxes on these accounts.
Hi very nice video.. so namalu questrade or wealth simple trade il enagne namude TFSA and RRSP account create chaiyam for trading ? Should we go to bank to link with this app?
We can open those accounts in both Wealthsimple Trade and Questrade. It will ask you in the app or in the website itself to choose the account(Cash,TFSA,RRSP). We don't need to go to banks. If you use my referral link in the description we both get a referral bonus, we both get a referral bonus.
I would say for a beginner wealth simple Trade is a great option because there is no fees for buying and selling stocks and its user interface is easy to use. Once you are experienced, you can start using Questrade which has research tools and greater collection of both US and Canadian stocks.
Very useful information.I have a question. Is my wife allowed to use my rrsp savings for her education tax free or does she has to use her rrsp. Thanks
Thanks. Yes. "the lifelong learning plan (llp) allows you to withdraw amounts from your registered retirement savings plan (rrsps) to finance full-time training or education for you or your spouse or common-law partner. "
Great videos bro.. Thanks for doing this. Can I create my own rrsp and tfsa accounts in these platforms like wealth simple and questrade or do i have to go to a bank to create rrsp and tfsa then link it with these platforms. Thanks
Thanks. Yes you create these accounts in Wealthsimple Trade and Questrade. Once your account is setup , just transfer funds to these accounts from your bank account,.
Thanks Rajath, Personally am not a big fan of Day Trading and I hardly ever do day trades. My strategy is to buy quality growth stocks on their dips and hold them for a long time.
How many trades we can don(buy and sell) with TFSA account? Does day trading will consider as business account and should we pay tax for that in TFSA day trading?
Actually there is no proper explanation in the CRA about the Day trading taxes in TFSA. I know some of my friends doing limited number of day trading in the TFSA like twice in a month and sometimes they skip some months and they haven't received any CRA audit till now. Personally I don't recommend TFSA for active day traders.
"If you are buying and selling stocks using a TFSA you should not participate in day trading or overly frequent trading. If you do so, the government may consider your trading activity to be a business and will make you pay income tax on your trading activity. The CRA can audit taxpayers who actively trade using a TFSA." Its from a Private website.
I am a Software Engineer bro. I think if you are interested in becoming a Financial advisor or Portfolio Manager and finance related roles, then it would be a helpful course. To know more, look for the job descriptions in LinkedIn and Indeed and see whether you like it or not.
When Filing taxes for the first time , its better to do with a Tax Professional. From second time onwards we can do it by ourselves using different tools such as Wealthsimple Tax, Turbo Tax. I have been using Wealthsimple Tax(Previously called Simple Tax) for 2 years. Its pretty easy to do, everything is straight forward.
Yes you can but you might end up paying Taxes. Its not recommended to Day trade in TFSA and you might need to consider Cash account for that. "If you do Day Trade in TFSA, the government may consider your trading activity to be a business and will make you pay income tax on your trading activity. The CRA can audit taxpayers who actively trade using a TFSA"
Landed in 2020 and filed taxes for the first time in 2021. Now If I am starting a TFSA account, how much room I will get to save? Thank you for all your videos
Really liked the content. Much needed one for new immigrants to understand investment and related taxes in a new country. Please do upload more such financial related information in layman’s terms for easier understanding .
Thank you so much for this content. Please Explain more about stock market investment in coming videos
Thank you so much for your valuable feedback. I am planning to do weekly videos related to Personal finance and Stock Market. Hope its helps everyone.
Hi sir , I am a big fan of yours . Your presentation is so simple and easy to understand for noobs like us. I already started an account in wealth simple. Thank you for your valuable advises
Happy to hear that you started Investing. Wish you all the best for achieving your financial goals.
@@canadianfinlife thank you for finding time to reply me . Can you please message or mail me your number ?
@@nijukskariah4532 I will mail you my email address
Very useful video and excellent explanation. If we open via RBC direct investment, do you recommend signing up Investment Account (Non-Registered)?]
they have 3 types, TFSA, RRSP and Investment Account (Non-Registered). do you know what is Investment Account (Non-Registered) used for?
Thanks. Non registered account means, It can either be a Personal(Cash) or Margin account. Basically you need to pay capital gain taxes on these accounts.
@@canadianfinlife thank you. is it better to open TSFA with national banks or financial institutions?
I have been using National bank investment accounts for the past few months. I am really liking It.
George bro on fire 🔥
Hey Hey , Please stay tuned
Worth Topic! Good job 👏🏻
Thank you
Expecting more videos from u . Thank u
Sure , Planning to upload more informative videos. Please stay tuned
Hi very nice video.. so namalu questrade or wealth simple trade il enagne namude TFSA and RRSP account create chaiyam for trading ? Should we go to bank to link with this app?
We can open those accounts in both Wealthsimple Trade and Questrade. It will ask you in the app or in the website itself to choose the account(Cash,TFSA,RRSP). We don't need to go to banks. If you use my referral link in the description we both get a referral bonus, we both get a referral bonus.
good job bro...very informative
Thanks Sherin , Am glad you liked it
Questrade vs Wealthsimple which one is better for a beginner to start investing?
I would say for a beginner wealth simple Trade is a great option because there is no fees for buying and selling stocks and its user interface is easy to use. Once you are experienced, you can start using Questrade which has research tools and greater collection of both US and Canadian stocks.
thanks a lot! informative video
Very useful information.I have a question.
Is my wife allowed to use my rrsp savings for her education tax free or does she has to use her rrsp.
Thanks
Thanks. Yes. "the lifelong learning plan (llp) allows you to withdraw amounts from your registered retirement savings plan (rrsps) to finance full-time training or education for you or your spouse or common-law partner. "
Great videos bro.. Thanks for doing this. Can I create my own rrsp and tfsa accounts in these platforms like wealth simple and questrade or do i have to go to a bank to create rrsp and tfsa then link it with these platforms. Thanks
Thanks. Yes you create these accounts in Wealthsimple Trade and Questrade. Once your account is setup , just transfer funds to these accounts from your bank account,.
@@canadianfinlife Thanks so much for the reply
Great video buddy. Do you do day trading? Would like to see a video on day trading.
Thanks Rajath, Personally am not a big fan of Day Trading and I hardly ever do day trades. My strategy is to buy quality growth stocks on their dips and hold them for a long time.
If my investment grown 130 present within one year in tfsa act if I sell the stock take money do I have to pay tax
From My understanding , You don't need to pay tax for that capital gain. That's gonna be considered as a long term investment.
How many trades we can don(buy and sell) with TFSA account? Does day trading will consider as business account and should we pay tax for that in TFSA day trading?
Actually there is no proper explanation in the CRA about the Day trading taxes in TFSA. I know some of my friends doing limited number of day trading in the TFSA like twice in a month and sometimes they skip some months and they haven't received any CRA audit till now. Personally I don't recommend TFSA for active day traders.
"If you are buying and selling stocks using a TFSA you should not participate in day trading or overly frequent trading. If you do so, the government may consider your trading activity to be a business and will make you pay income tax on your trading activity. The CRA can audit taxpayers who actively trade using a TFSA." Its from a Private website.
Perfect presentation 👌
Thanks a lot
@@canadianfinlife if you don't mind kindly provide me any kind of contact information. I just want to ask you some business enquires
We have a Instagram and Facebook page. Links are in the description. Also you can join our telegram community - t.me/joinchat/GnFA47l_a0OAAKDk
Good one.
Thanks!
Good information
Thanks Jacob
Hai bro financial planning and investment enna course engane und
I am a Software Engineer bro. I think if you are interested in becoming a Financial advisor or Portfolio Manager and finance related roles, then it would be a helpful course. To know more, look for the job descriptions in LinkedIn and Indeed and see whether you like it or not.
Hi bro...can you explain first time tax filing?
When Filing taxes for the first time , its better to do with a Tax Professional. From second time onwards we can do it by ourselves using different tools such as Wealthsimple Tax, Turbo Tax. I have been using Wealthsimple Tax(Previously called Simple Tax) for 2 years. Its pretty easy to do, everything is straight forward.
@@canadianfinlife Thank you
Bro ithoke evidunu padichee
I am really interested in these kind of investments and stock market. Been doing this for around almost 4 years in India and 1 and half year in Canada
@@canadianfinlife great bro,am also intrested,but no one to help
Thanks, I am planning to upload videos weekly about Investing topics. I hope it gonna help you to have some valuable information regarding investing.
@@canadianfinlife thanks bro
Muthe
Do I can day trade in Tfsa account ?
Yes you can but you might end up paying Taxes. Its not recommended to Day trade in TFSA and you might need to consider Cash account for that. "If you do Day Trade in TFSA, the government may consider your trading activity to be a business and will make you pay income tax on your trading activity. The CRA can audit taxpayers who actively trade using a TFSA"
Thanks
I was reached canada at 2021december. So can i invest 6000+6000 now?
If you file tax return's from 2021, then you will be getting 6k+6k. You can check it out in your CRA account.
Excellent
Thank you! Cheers!
Landed in 2020 and filed taxes for the first time in 2021. Now If I am starting a TFSA account, how much room I will get to save? Thank you for all your videos
So you will have TFSA rooms from 2020 to 2022. It should be 18k
@@canadianfinlife Thnkyou. Thats so accurate! why you are not making new videos?
@@vancouverdiaries738 Am back again in India now due to some medical reasons and will be back to Canada by end of this month
@@canadianfinlife so hopefully new videos sooooooon
👍👍👍
❤️✌️
👍
Hi
Gilbert ki Jay hooo😁
WFG financial group ne kurich enthelum ariyaamo ? Is it good ?
I don't much idea about WFG. I think mainly they are doing Insurance. So personally I am not interested in those.
Bro can I get your email ?
👍👍👍👍