Now what?

Okay, it’s over. Presents done. Kids jollied. We’re all bored now.

So, let’s have a wee quiz, just to see if you’ve been paying attention to this pathetic blog over the past year. Answers tomorrow. Do not cheat and ask your 5-year-old niece to Google any of the questions. Be humble.

1. Justin Trudeau is the prime minister after the Oct. 31 election. What percentage of the vote did he receive in order to form government? (a) 71.4% (b) 33.1% (c) 52.3%

2. The composite benchmark house price in Toronto hit its highest-ever point during which month? (a) Nov 2019 (b) April 2016 (c) May 2017

3. When does an RRSP have to be cashed in and taxes paid, or converted to a RRIF (registered income fund)? (a) At age 65 (b) on your 71st birthday (c) by December of your 71st year.

4. What’s the tax rate on capital gains? (a) 100% (b) 33.3% (c) 50%

5. What’s the average detached house price in Canada’s second-biggest market, Montreal? (a) $789,540 (b) $1,123,560 (c) 259,000 (d) $350,000

6. What is the maximum contribution to an RESP in order to score the government’s 20% grant money? (a) $7,000 (b) $2,500 (c) $750

7. When did the TSX on Bay Street hit its highest-ever level? (a) Nov 3 2016 (b) Dec 23 2019 (c) July 17 2019

8. What’s Elon Musk worth? (a) $14 billion (b) Nothing. He owes more than he has (c) $23 billion

9. What’s B20? (a) Boeing product (b) Cannabis edible (c) stress test

10. When bond yields rise what happens? (a) An inversion (b) Bond prices fall (c) Stocks rise

11. What’s the maximum TFSA contribution for 2020? (a) 5,000 (b) 6,000 (c) $6,500

12. Who did Bill Morneau marry? (a) Mrs. Morneau (b) Jane Philpot (c) Nancy McCain

13. Since pot was legalized in October of 2018, how much have investors lost on cannabis stocks expressed as an average negative return? (a) 14% (b) 57% (c) 38%

14. When does Stephen Poloz quit as head of the bank of Canada? (a) January (b) June (c) 2021

15. What’s the difference between a TFSA beneficiary and successor holder? (a) Children cannot be a SH (b) Beneficiaries get paid faster (c) A SH inherits the account

16. Why are preferred shares preferred? (a) Dividends are paid first (b) The dividend tax credit (c) Issued by regulated, blue chip companies

17. What’s a basis point? (a) Part of credit scores (b) One 100th of 1% (c) A bond measurement

18. Capital gains on houses are tax-free if: (a) You have owned it for at least a year (b) only if the PR Exemption is claimed (c) It has never been a rental

19. The limit on bank deposit insurance is: (a) $100,000 (b) unlimited (c) Up to $700,000 per institution

20. How long, in dog years, is the average stock bear market? (a) 13.2 (b) 2.3 (c) 8.1

Good luck! All winners will receive a Wexit ballcap full of unicorn fur.

40 comments ↓

#1 Lost...but not leased on 12.25.19 at 5:05 pm

Phyrrztt !!!

You snooze….you end up in Toronto!

Merry Xmas

#2 Juve101 on 12.25.19 at 5:10 pm

That was fun :)
I think I got most of them right… will find out tomorrow!

#3 Axehead on 12.25.19 at 5:18 pm

Umm … Garth. The fur lining a Wexit cap comes from the provincial animal, what is this beast???

#4 John in Mtl on 12.25.19 at 5:22 pm

Joyeux Noel Monsieur Garth, Madame Dorothy, et p’tit pitou Bandit. And of course, everyone who comes here to share and learn.

And Thank You, Garth, for being there for us blog dawgs, with unfailing wisdom, unequaled wit and Swiss watch regularity!

#5 Phylis on 12.25.19 at 5:35 pm

Teacher, teacher. My hand is up. 16 is a little wordy. Can you pls provide a clarification?

#6 Caledondave on 12.25.19 at 6:17 pm

Garth, you missed number 21…
When will Garth Turner be asked to run for the leadership of the P.C. Party?
1) never
2) February 29
3) when someone in Ottawa realizes that someone who is fiscally responsible should be in charge of at least one federal party

#7 Jay Currie on 12.25.19 at 6:29 pm

LOL. We just got a puppy and to avoid the crime scene above tree and presents were a table top affair.

Questions #3 and #15 have pushed me off to do a bit of research which is excellent as they both make a difference.

Merry Christmas Garth. You’ve been an everyday read through 2019 and on into 2020.

#8 paracho on 12.25.19 at 6:40 pm

Merry Christmas!
Joyeux Noel!

What do I get for a perfect score ?

#9 Chris on 12.25.19 at 7:21 pm

Number 13 is a trick question since pot was legalized on October 17th, 2018, not in 2017 as stated. Not positive about all the other answers, but I should get bonus points because I spotted the deliberate mistake, right teacher?

#10 VicPaul on 12.25.19 at 7:32 pm

In an effort to be more transparent in my life:
1. – B 11. – C
2. – C 12. – C
3. – C 13. – B
4. – C 14. – B
5. – D 15. – C
6. – B 16. – A
7. – B 17. – B
8. – D 18. – B
9. – C 19. – A
10. – B 20. – C

What do I win?
50% off porfolio fees for the first year?

#11 jim on 12.25.19 at 7:49 pm

Brexit ‘will not damage UK’s status in the world’: Britain will remain a dominant global economy and will streak ahead of France and overhaul Germany, long-term analysis suggests

https://www.dailymail.co.uk/news/article-7826919/Britain-remain-dominant-global-economy-Brexit-new-analysis-suggests.html

Invest accordingly…

#12 Flop... on 12.25.19 at 8:09 pm

“Huh”, I said to the wife

“What’s up!” she responded.

“Didn’t think Garth would post today, it’s not a normal post, just a quiz.” I followed.

“Maybe he’s bored” she countered.

“Only one way to find out.” I said checking my inbox.

Nope, he hasn’t emailed me back.

He’s not that bored…

M45TX

#13 Nonplused on 12.25.19 at 8:50 pm

Some people don’t like real Christmas trees.

But from an environmental perspective, real trees seem like they are much better.  When a plastic tree reaches the end of its life, it goes to the landfill.  I suppose they could be recycled, but they would have to be disassembled to do so to separate the plastic leaves from the mostly steel trunk and branches, and the wiring and the lights would have to be removed as well.  This probably isn’t economic so in the landfill it goes.  Real trees on the other hand spend 7-10 years absorbing carbon dioxide which supposedly is a good thing, and can be composted, or if buried in the land fill represent real carbon dioxide sequestration.  And very few people cut down a wild tree, most are grown on farms and thus the practice is sustainable.

And I also am not opposed to the “consumerism” of Christmas.  Remember, that tree you bought, or anything else, is someone else’s livelihood.  If we were all to stop buying other people’s products then they would be forced to stop buying ours, and you’d be out of work too.  That’s how the economy works.  We all build, mine, or grow something and then trade it for the products other people produce through the miracle of money.  That is how the economy works.

So chill folks, that real tree represents an environmentally sound, locally sourced, economy enhancing purchase.  And concentrating other “gifts” to Christmas does no more harm than if we spread those purchases out throughout the year.  If you are going to buy your kid a Nintendo Switch anyway, does it hurt if he/she gets it for Christmas?  No it does not.  In fact it helps reinforce the idea that such things are a “gift” and not a “right”.  There are subtle reasons behind most religious traditions that have nothing to do with whether there is a God or not.  They are mind training for the masses.  Christmas is about hope, redemption, forgiveness, good will towards men, and generosity.  That the story is a little weird and involves some things we now know to be impossible does not distract from that.  Look at what the authors meant not whether it was true (which who knows maybe it is).  In the same way we don’t read “A Christmas Carol” as a documentary we can learn a lot from the Christmas story without even believing it is fact based.

But from an environmental perspective, real trees seem like they are much better.  When a plastic tree reaches the end of its life, it goes to the landfill.  I suppose they could be recycled, but they would have to be disassembled to do so to separate the plastic leaves from the mostly steel trunk and branches, and the wiring and the lights would have to be removed as well.  This probably isn’t economic so in the landfill it goes.  Real trees on the other hand spend 7-10 years absorbing carbon dioxide which supposedly is a good thing, and can be composted, or if buried in the land fill represent real carbon dioxide sequestration.  And very few people cut down a wild tree, most are grown on farms and thus the practice is sustainable.

And I also am not opposed to the “consumerism” of Christmas.  Remember, that tree you bought, or anything else, is someone else’s livelihood.  If we were all to stop buying other people’s products then they would be forced to stop buying ours, and you’d be out of work too.  That’s how the economy works.  We all build, mine, or grow something and then trade it for the products other people produce through the miracle of money.  That is how the economy works.

So chill folks, that real tree represents an environmentally sound, locally sourced, economy enhancing purchase.  And concentrating other “gifts” to Christmas does no more harm than if we spread those purchases out throughout the year.  If you are going to buy your kid a Nintendo Switch anyway, does it hurt if he/she gets it for Christmas?  No it does not.  In fact it helps reinforce the idea that such things are a “gift” and not a “right”.  There are subtle reasons behind most religious traditions that have nothing to do with whether there is a God or not.  They are mind training for the masses.  Christmas is about hope, redemption, forgiveness, good will towards men, and generosity.  That the story is a little weird and involves some things we now know to be impossible does not distract from that.  Look at what the authors meant not whether it was true (which who knows maybe it is).  In the same way we don’t read “A Christmas Carol” as a documentary we can learn a lot from the Christmas story without even believing it is fact based.

#14 TurnerNation on 12.25.19 at 8:58 pm

A side point to yesterday’s comments – all the thefts.
You know why the trend in USA is toward decriminalization of theft under ~$750?
Who would this help, hard working people like us?
Because the people doing the thefts mainly steal for drugs. This ensures a steady business for the drug dealers. No point locking up the best customers.

But why. Because the State is a drug dealer. BC’s shipping ports openly run on organized crime. Cops turn a blind eye. Rumors swirl around a certain Premier & family. No top or even mid level dealer is ever to be caught. Hands off.
What crisis is ravaging people today?
History always repeats: https://en.wikipedia.org/wiki/Opium_Wars

#15 Dave on 12.25.19 at 9:21 pm

Sorry, I’m a dork – but question 4 is worded incorrectly…

It should be: What percent of capital gains is taxed? Answer: 50% of capital gains is taxed at your marginal rate.

#16 Ustabe on 12.25.19 at 9:29 pm

I could have told you this last year, after spending the summer in northern BC, Yukon and the NWT.

But all the experts would have told me I was wrong, such is their haste to disparage any single thing government does.

A little but evocative Christmas present for you all: https://www.alaskahighwaynews.ca/business/trans-mountain-expansion-pipeline-in-the-ground-1.24040648

#17 Phylis on 12.25.19 at 9:35 pm

Thx, makes sense now.

#18 Smoking Man on 12.25.19 at 9:46 pm

Merry Christmas Bastards…

#19 darrenH on 12.25.19 at 9:54 pm

I can honestly say we’d make great friends, Garth.

I like the cut of your Gib!

#20 Phylis on 12.25.19 at 10:13 pm

#18 Smoking Man on 12.25.19 at 9:46 pm Hey, what about the rest of us?

#21 Spock on 12.25.19 at 11:02 pm

Let’s give this a shot using the Vulcan logic. Live Long and Prosper.

1. Justin Trudeau is the prime minister after the Oct. 31 election. What percentage of the vote did he receive in order to form government?

Ans: (b) 33.1%

2. The composite benchmark house price in Toronto hit its highest-ever point during which month?

Ans: (c) May 2017

3. When does an RRSP have to be cashed in and taxes paid, or converted to a RRIF (registered income fund)?

Ans: (c) by December of your 71st year.

4. What’s the tax rate on capital gains?

Ans: (c) 50%

5. What’s the average detached house price in Canada’s second-biggest market, Montreal?

Ans: (d) $350,000

6. What is the maximum contribution to an RESP in order to score the government’s 20% grant money?

Ans: (b) $2,500

7. When did the TSX on Bay Street hit its highest-ever level?

Ans: (b) Dec 23 2019

8. What’s Elon Musk worth?

Ans: (c) $23 billion

9. What’s B20?

Ans: (c) stress test

10. When bond yields rise what happens?

Ans: (b) Bond prices fall

11. What’s the maximum TFSA contribution for 2020?

Ans: (b) 6,000

12. Who did Bill Morneau marry?

Ans: (c) Nancy McCain

13. Since pot was legalized in October of 2018, how much have investors lost on cannabis stocks expressed as an average negative return?

Ans: (b) 57%

14. When does Stephen Poloz quit as head of the bank of Canada?

Ans: (b) June

15. What’s the difference between a TFSA beneficiary and successor holder?

Ans: (a) Children cannot be a SH

16. Why are preferred shares preferred?

Ans: (a) Dividends are paid first

17. What’s a basis point?

Ans: (b) One 100th of 1%

18. Capital gains on houses are tax-free if:

Ans: (b) only if the PR Exemption is claimed

19. The limit on bank deposit insurance is:

Ans: (a) $100,000

20. How long, in dog years, is the average stock bear market?

Ans: (b) 2.3

#22 Spock on 12.25.19 at 11:04 pm

#15 Dave on 12.25.19 at 9:21 pm

Garth knows that almost all the visitors who frequent this site are in the 50% marginal tax bracket.

You are correct in the wording.

#23 WIN not lose on 12.25.19 at 11:13 pm

#19 Darren
What’s a Gib? A BeeGee?
I like the cut of your jib.

#24 acdel on 12.25.19 at 11:14 pm

1. I guess around 33% but I am a Westerner barely 1% out here thank god!
2. As a Westerner could care less about T.O.; no offense T2 voters.
3. I would say B
4. I would say 50% but 100% seems to be my charge on any profits I make on stocks!
5. Could care less about Montreal as a Westerner; no offense T2 voters.
6. If I remember correctly it is A
7. Just looking at the charts a couple days ago; highest ever!
8. Elon Musk is a fricken genius; the more the better. My guess 14 billion.
9. Stress test.
10. Got me; when bonds rise stocks usually fall and vise versa; but bond yields usually rise when bonds go down; no!!
11. A bloody 6k; as like 2019; should be more dammit!
12. Could care less!
13. Too high to respond!
14. I thought it was this June of 2020.
15. C
16. I think A
17. Going with B
18. Use to be A, but who the heck knows now.
19. Last I heard it was A.
20. I would say in the average of B

I really am looking forward to my Wexit ballcap full of unicorn fur! :)

#25 Sail Away on 12.25.19 at 11:14 pm

#19 darrenH on 12.25.19 at 9:54 pm
I can honestly say we’d make great friends, Garth.

I like the cut of your Gib!

——————————

Jib. The saying refers to a sailboat jibsail.

Gib is a metal wedge. People are not generally enamoured by the cut of someone’s gib.

#26 Lost...but not leased on 12.26.19 at 12:58 am

Dogs and Cats Dying from Cancer Like Flies – Here is Why!

http://www.renegadetribune.com/dogs-and-cats-dying-from-cancer-like-flies-here-is-why/

#27 Haus Edlinger on 12.26.19 at 1:28 am

I am stumped.
WEXIT? Why would they even…?

#28 Dont forget the interval on 12.26.19 at 1:42 am

“by December of your 71st year.” (RRIF question 3)

Is it not by the end of the year in which you turn 71?
This would then be by December 31 of your 72nd year.

#29 crazyfox on 12.26.19 at 7:45 am

For the losers of this challenging test of skills, I’d like to take the time to remind that there are other choices in filling that prize void!

https://wexitmerch.ca/

Inventive up start Wexitmerch is cashing in on the Wexit “movement” with ominous and foreboding “black and white” Structured Twill caps and “Trucker” caps for a mere $50.74 and $45.51 (plus applicable taxes) Also offered is some of the finest quality cotton from Bangladesh by way of Dhaka and further east Saigon for their upscale fleece apparel. Disclaimer: This is a “for profit” enterprise.

Not to be outdone is Wexit Alberta:
https://wexitalberta.com/
While the website is still under construction considering their evolving list of political threats and demands to contemplate, this recent birth from the sort of, patriotic big tent national Conservative party Wexit members ardently support, also offer apparel more cheaply from this soon to be registered “non profit”:
https://wexit2019.itemorder.com/sale?read_message=true

While on the subject, why not give Wexit a plug. Wexit’s national “vision” for Canada can be found in their platform: https://wexitcanada.com/platform.html

With a plan to centralize power to Alberta, (plenty of office space in Calgary at the moment) perhaps one should plan for a glass of good scotch or brandy to open the mind toward a new age before this good read. With a Bloc of 5 million “claimed” western Canadians with no national experience as opposed to Bloc Canada with 37 million Canadians and 152 years of practice, who says Bloc Alberta can’t have more leverage in, say, new trade agreements, currencies, border security, penal, judicial and immigration? What could go wrong, as we watch Scheer & Kenny’s brain trust unemployed construction oil workers re-invent the wheel. Ahem.

Unicorn hair naturally, does not exist except for added color! Several sites have a cure for that. :) We have, as an example, unicorn hair for women over 60!: https://therighthairstyles.com/women-over-60-with-unicorn-hair/

For the woman who leads in fashion risk, its bound to keep us young. With tints, dyes and extensions, you too, can stop traffic at any age if you dare. All the rage at music festivals and pride parades, faux unicorns and rainbows can be yours with a mere credit card.

The finest synthetic unicorn fur is attainable at where else but:
https://www.unicornfurs.com/

For a quick change in fashion, this for profit venture will be glad to assist in all of our unicorn fur needs! (they are adorable) So fret not, score losers, as the prize alternatives are a mere card away!!

#30 Dharma Bum on 12.26.19 at 7:45 am

Nonplused must’ve been into the sauce early.
Blalblablablablablablablabla…
Jeeeeez.
By the way, is Boxing Day still a thing?
Like, do they have sales and stuff? Door crasher specials on TVs and stereos?
I miss those old corny stereo store ads on the tube.
I guess I’ll just hang onto my Christmas loot and use it for January’s TFSA contribution.
Hey, financial advisors gotta eat too.

#31 Tony on 12.26.19 at 8:57 am

Re: #8 paracho on 12.25.19 at 6:40 pm

I got all of them right, I keep abreast of all political and world events.

#32 FreeBird on 12.26.19 at 9:26 am

This is belated but the image of the dog from last post reminds me of the thousands who are abandoned, born stray etc in Canada (and far more worldwide). Reminder In 2020

**Adopt and rescue don’t buy and have your dog/cat spay or neutered. Some vets now offer tubal ligation and vasectomy and many shelters will do at a low cost.**

I think Garth wrote Bandit was adopted/rescued. Also don’t give dogs/cats (any animal) as gifts unless/until you’re sure the receiver is aware of real cost, time, energy involved and breed/age is a good fit. Too many cute puppies are given only later to be abandoned/taken to shelter (if lucky). Even older cats/dogs given to seniors while well intended can end up neglected/homeless from a new owners’ lack of ability to care properly for it but reluctant to admit it or other factors. Local shelters have wish lists so check websites. They’ll often take used linen, towels, comforters, Canadian Tire money and real money is always welcome. We’d put out a big bin for our staff and they with offices near by would over fill it. We did it in the summer when donations can be low. Thanks

I’d answer the quiz but too tired to google and its what our CA and advisor are for. They’re off until new year ; )

#33 Felix on 12.26.19 at 10:16 am

Sigh. Yet another photo showing stupid canines trying to destroy Christmas.

But wait, there’s more….

https://nypost.com/2019/12/23/dog-steals-christmas-package-from-womans-porch/

*Dog owners, this is just a friendly reminder that the best Christmas gift you can give your pooches is to spay and neuter them.

#34 joblo on 12.26.19 at 10:31 am

#30 Dharma Bum on 12.26.19 at 7:45 am
“By the way, is Boxing Day still a thing?”

I think its a UK thing, the Ministry of Upper Class orders the POSH to buy stuff and give it to the “the middle class and those working hard to join it”.

or something like that

#35 slick on 12.26.19 at 10:39 am

#6 technically is $5000 with an asterisk, if all previous years contribution room has not been used.

#36 I voted Liberal on 12.26.19 at 10:57 am

1. Justin Trudeau is the prime minister after the Oct. 31 election. What percentage of the vote did he receive in order to form government?

Enough to beat sad sack Sheer

2. The composite benchmark house price in Toronto hit its highest-ever point during which month?

4/20

3. When does an RRSP have to be cashed in and taxes paid, or converted to a RRIF (registered income fund)?

When Conservatives win next election cuz ya gonna need cash after they cut everything.

4. What’s the tax rate on capital gains?

Don’t care, paying tax is good for the budget, helps balance itself.

5. What’s the average detached house price in Canada’s second-biggest market, Montreal?

Can I live near T2?

6. What is the maximum contribution to an RESP in order to score the government’s 20% grant money?

Don’t need edumacation, free stuff like paying for my kids is enough.

7. When did the TSX on Bay Street hit its highest-ever level?

When SNC got out of trouble.

8. What’s Elon Musk worth?

Why does this matter, just give me a tax break on my tessla.

9. What’s B20?

Canabis strain on sale

10. When bond yields rise what happens?

T2 orders the Mint to print more money.

11. What’s the maximum TFSA contribution for 2020?

Can’t afford it

12. Who did Bill Morneau marry?

Michelle Rempel so she crosses the floor?

13. Since pot was legalized in October of 2018, how much have investors lost on cannabis stocks expressed as an average negative return?

Nothing got a lot of CALM.

14. When does Stephen Poloz quit as head of the bank of Canada?

When the next Quebec guy says yes.

15. What’s the difference between a TFSA beneficiary and successor holder?

Successor gets half cuz guv needs money?

16. Why are preferred shares preferred?

Cuz they are Shares of the 1%

17. What’s a basis point?

The point the Guv pays my mortgage.

18. Capital gains on houses are tax-free if:

you get free money from the Parlament.

19. The limit on bank deposit insurance is:

0, its all owned by BOC.

20. How long, in dog years, is the average stock bear market?

4 years of Con guvernmanets

#37 crowdedelevatorfartz on 12.26.19 at 11:09 am

Some interesting questions and multiple choice answers.

Here goes:
1. b 2. b 3.c 4. b 5.c

6. b 7. b 8. a 9.c 10.a

11. c 12. b 13. c 14. b 15.c

16. a 17. b 18. a 19. a 20.b

#38 crowdedelevatorfartz on 12.26.19 at 11:13 am

@# Axehead
“The fur lining a Wexit cap comes from the provincial animal, what is this beast?

+++++

It’s the extremely common, red necked dinosaur .
Found in most parts of Alberta.
Identified by its loud whining call, “Wexxxxx-iiiit! Wexxxxxxx-iiiiiiiit”

#39 crowdedelevatorfartz on 12.26.19 at 11:20 am

@#18 Smoking mandible
“Merry Christmas Bastards…”
+++++

My parental history is not your concern.

As for Christmas.
Look though the smoky Los Angeles haze when the sun sets and then look at your watch…..
The days are getting longer!

#40 NoName on 12.26.19 at 6:37 pm

6 more sleeps before roaring twenties of this century.

https://youtu.be/IgcuBOVMGsg