Tag Archives: Financial Advisor

Your 2017 Tax Return – Tax Reporting Information

Your 2017 Tax Return – Tax Reporting Information 

With the tax-filing deadline fast approaching you may be in a rush to file your 2017 personal tax returns.  

RRSP contribution deadline for 2017 is Thursday, March 1, 2018 

Have you made an RRSP Contribution for 2017? 

  • Your contribution room is limited to 18% of income earned in 2016, with a maximum contribution of $26,010 less any pension adjustments. Your 2017 limit can be found on your 2016 Notice of Assessment. 
  • Convenient RRSP loans are available through our affiliation with National Bank. 

Have you made a TFSA Contribution for 2018? 

  • Fact: Someone who has never contributed to a Tax Free Savings Account can now contribute up to $57,500.00.  The 2018 contribution limit is $5,500.00 
  • To verify your TFSA contribution limits, please contact Canada Revenue Agency website http://www.cra-arc.gc.ca/myaccount/ or CRA directly @ 1-800-267-6999.  NBF cannot be held liable for any over contribution penalties. 

Income Trust or Limited Partnership Units 

  • Tax slips are not mailed until late March.  Companies can file amendments. We suggest you wait until mid-April to file your personal tax return. 
  • 100% Return on Capital is recorded on the T3 and listed on the Summary of Trust Income Report. 
  • Reminder: If you have invested in (flow-through) Limited Partnership Units, please remember to use the tax credits applicable in future years.  This is located on the final T5013 issued for any LPU.  Keep copies to use these credits on your future tax returns. 
  • Rob suggests that clients participating in flow-through limited partnerships or options have an accountant complete their tax return. If you do not have an accountant, please feel free to contact our office for a referral. 

The average U$ currency rate for 2017 is 1.2986 (applicable if you are reporting U$ capital gain/loss). Source: Bank of Canada – Financial Markets Department 

Allowable capital losses can be applied against any capital gains for the previous 3 years (2014, 2015, 2016) or carried forward indefinitely.

 If you require a Capital Gain/Loss Report (taxable accounts) for your 2017 Personal Tax Return, please feel free to contact me at (250) 953-8415 or by e-mail at [email protected]

  On-line Services – if you would like to view your NBF accounts on-line, please contact me for access. 

  • You can now receive your monthly statements, trade confirmations and tax slips on-line too!

Your personal tax return must be filed prior to mid-night of April 30th, 2018 

Have you received all your tax slips?  

This table lists the various Canadian slips and forms that may be needed to prepare your income tax return.  Since these documents reflect the transactions and income recorded during the year, some may not apply to your situation.  Before completing your tax return, please ensure that you have received all your tax slips to avoid having to file an amended return.

Please feel free to contact me if I can be any further assistance to you.  

Maureen Peters
Investment Associate
 
T:  250.953.8415 | F:  250.953.8470
Toll Free:  1.800.799.1175
Email [email protected]
 
 

National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada. The National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX). The particulars contained herein were obtained from sources we believe to be reliable, but are not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation of these particulars and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein. The opinions expressed herein do not necessarily reflect those of National Bank Financial. The securities or sectors mentioned herein are not suitable for all types of investors. Please consult your investment advisor to verify whether the securities or sectors suit your investor’s profile as well as to obtain complete information, including the main risk factors, regarding those securities or sectors. 

Please consult your tax advisor regarding your particular situation.  National Bank Financial is not a tax advisor and clients should seek professional advice on tax-related matters.  Please note that comments included on this website are not intended to be a definitive analysis of tax law. The comments contained herein are general in nature and professional advice regarding an individual’s particular tax position should be obtained in respect of any person’s specific circumstances.

 

 

 

Market Update – January 2018

2017 Markets Summary…

Canadian market (TSX) finished 2017 up +5.8%. 

American market (SPX) finished 2017 up 19.4%  (13.4% in Canadian dollar terms for Canadian investors who saw the  Canadian currency rise against the USD 6% largely in the last quarter along with the seasonal move in oil.) 

RSP investing.  Check your assessment notice from CRA from your tax return to see how much you can contribute to your retirement savings plan this year.  You can contribute until March 1, 2018 for a deduction against 2017 income.

TFSA Investing.  As a Canadian investor you are allowed to contribute $5,500 to a tax-free savings account this year, for a total combined contribution room of $57,500 (including previous years).

Consolidation.  If you haven’t, think about consolidating any peripheral accounts into your portfolio here at National Bank Financial.  It allows you to get the full benefit of having an advisor relationship you trust.  If you think about it, you are paying for wealth management and over time we tend to touch on every aspect of your financial health from portfolio, to keeping you tax neutral, to an eventual estate.  If we can’t see the entire picture, it is difficult to adequately design.  It may cost you less money too to run one portfolio versus two and it will be easier to track returns particularly as you age.    

Marijuana.  The notion of a post-prohibition industry surrounding pot might seem, well euphoric.  However, the current run up in pot stocks is a bubble and I believe that this might well be a case of ‘the second mouse gets the cheese’.  When drug companies take a drug through the approval process, it is not unusual to see the stocks run up in anticipation of approval only to fall back again, before moving up on actual EARNINGS.   I don’t think pot stocks will be much different.  We have been in the anticipation period but some of these companies are worth billions with no earnings yet and NO LEGISLATION to provide clarity as to the lay of the land.  I also wonder if regular pot users would not be inclined to just grow their own over a government taxed product. 

Bitcoin.  This is called a cyber currency but in actual fact, I would call it a commodity as it has limited supply. A great means for the dark money to move it around, but something that lacks any fundamentals as an investment.

Bonds.  They continue to offer a negative rate of return.  Five year Canada bonds pay 1.89%  I believe interest rates will continue to move up in 2018, led by the U.S. Fed.

Stocks.  U.S. markets look extended and I don’t think it would be realistic to expect a repeat performance in 2018. That said, that market might look extended for some time as interest rates are relatively low along with unemployment.   The worry is the Trump administration, which seems more surreal as time passes.  Mr. Mueller is starting to make indictments and U.S. mid-term elections in November could end Republican control over the U.S. government.

Covered writing.  I like long term calls on U.S. stocks to provide income and some protection against any potential market pullback.

Stock dividends.  Canada pays nice dividends – even in the energy space, which has been an underperformer over the year despite a late year move on higher oil prices into winter. Remember that dividends are the life jackets around stocks that allow you to get paid – when you have to wait.  Canadian bank stocks are at price points where we historically have seen stock-splits.

Happy New Year!

I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial.

 

National Bank Financial 

Rob Hunter
Vice President
Senior Investment Advisor

 

Sources: Stockcharts, Reuters 

National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada. The National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX). 

This information was prepared by Rob Hunter,  Senior Investment Advisor with National Bank Financial.  The particulars contained herein were obtained from sources that we believe reliable but are not guaranteed by us and may be incomplete.  

The opinions expressed are based on our analysis and interpretation of these particulars and are not to be construed as solicitation or offer to buy or sell the securities mentioned herein.  National Bank Financial may act as financial advisor, fiscal agent or underwriter for certain of the companies mentioned herein and may receive remuneration for its services.  Rob Hunter, National Bank Financial and/or its officers, directors, representatives, and associates may have a position in the securities mentioned herein and may make purchases and / or sales of these securities from time to time in the open market or otherwise. 

The opinions expressed herein do not necessarily reflect those of National Bank Financial.  

Several of the securities mentioned in this article may not be followed by National Bank Financial’s Research department.

The securities mentioned (inclusive of income trusts and option strategies) in this article are not necessarily suitable to all types of investors.  Income trusts and preferred shares are equity investments. Please consult your investment advisor to discuss investment risks.  All prices and rates are subject to change without notice.  Stocks typically fluctuate in value.  Stock values can go to zero.

Selling calls against stock (Covered Writing):  Shares may need to be sold at the strike price of the option at any time prior to expiration.  If the calls are assigned, further opportunity for appreciation in the underlying security above the strike price is foregone.

Risk/Reward of the strategy = Strike price minus the purchase price of the underlying plus the premium received from the sale of the call.  The maximum loss is the same as holding a long position less the premium received.

The investment advice given only applies to residents of the provinces of British Columbia, Alberta, Manitoba and Ontario.

National Bank Financial is a member of the Canadian Investor Protection Fund. 

 

 

 

Market Update – December 2017

Market Update … tale of two countries

 

In Canada, weakness in commodities held the index back most of this year, though we have seen limited strength in both materials and energy of late as we move into winter.  Strength in the Canadian market was most notable in the financials.

In the U.S. market, strength was most noticeable in the technology and financial stocks this year.

Essentially, Canada has served well as great haven for dividend seekers as even the downtrodden energy sector provides among the best dividend yields.  The American market has been the growth catalyst and I repeat myself in saying that I believe the American market will continue to do so on a relative basis as we remain in a U.S. dollar driven stock cycle.

That said, it would historically, be unusual for the American market to repeat this year’s performance next.  Hints of a fully valued U.S. market may have come from Q3 earnings where 70% of companies reporting in the S&P 500 beat analyst expectations but stock movement was rather mute.  However, companies that didn’t meet expectations or provided guidance of weaker trends next year tended to get punished.  This might be indicative of a market priced for perfection.  Even market leading technology stocks have been pulling back as a group since November.

Concern about pending market correction tends to be related to news rather than the economy, usually surrounding Trump & Co., North Korea and the Middle East, yet in the economy, unemployment rates remain low as do interest rates.  Further, markets can appear expensive for long periods of time and of course, contractions in the stock market are normal, so don’t try to time them.  Have a bit of cash.

I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial.

National Bank Financial

Rob Hunter
Vice President
Senior Investment Advisor

 

Sources: Reuters, Stockcharts.com, Technical Speculator, NBF Economics

National Bank Financial is an indirect wholly-owned subsidiary of National Bank of Canada. The National Bank of Canada is a public company listed on the Toronto Stock Exchange (NA: TSX).

This information was prepared by Rob Hunter,  Senior Investment Advisor with National Bank Financial.  The particulars contained herein were obtained from sources that we believe reliable but are not guaranteed by us and may be incomplete.

The opinions expressed are based on our analysis and interpretation of these particulars and are not to be construed as solicitation or offer to buy or sell the securities mentioned herein.  National Bank Financial may act as financial advisor, fiscal agent or underwriter for certain of the companies mentioned herein and may receive remuneration for its services.  Rob Hunter, National Bank Financial and/or its officers, directors, representatives, and associates may have a position in the securities mentioned herein and may make purchases and / or sales of these securities from time to time in the open market or otherwise.

The opinions expressed herein do not necessarily reflect those of National Bank Financial.

The investment advice given only applies to residents of the provinces of British Columbia, Alberta, Manitoba and Ontario.

National Bank Financial is a member of the Canadian Investor Protection Fund.

 

 

rhunterwealth.ca