Year-end tax-shrinking tips

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RYAN   By Guest Blogger Ryan Lewenza
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It’s time to start getting ready for tax season again. Yippee! If you’re like me, getting everything organized to file your taxes feels like performing a self-inflicted frontal lobotomy using a dull butter knife. I can think of a million other lousy things I would prefer to do, like watching an episode of The Bachelorette with my wife, where coincidently many of the contestants have also had a frontal lobotomy, than compile all the required tax slips and documentation to file my taxes.

Now that I’ve ruined your morning with the reminder of tax season approaching and your rage/PTSD is bubbling to the surface, I’ll move on to providing some tips that will help reduce your tax bill and your palpable anger. So here it goes.

1. Review and max out registered accounts. First review your RRSP, TFSA and RESP accounts before the end of year to ensure you didn’t over-contributed. Over-contributing to these accounts can result in penalties and is a big hassle to fix. After confirming this, you should consider maxing out these retirement and education accounts to take advantage of tax-deferred growth. If you’re like me and hate sending the Feds more money than needed, then this is a good way to reduce your tax bill and build up your retirement funds.

2. Review your capital gains/losses and consider triggering some gains in your cash account ahead of potential tax changes. As we approach December 31st you should be reviewing your year-to-date capital gains and look to offset some of these gains by triggering losses. Known as tax-loss selling, you could sell investments that are down from their initial cost price and apply those losses to your accumulated gains, thus reducing your tax bill. Moreover, with the high government deficits and accumulated debt from the Covid-induced recession, some are speculating that the Federal government could increase the capital gains inclusion rate next year. We’ve fielded numerous calls from clients this year on this topic and we have, through our normal day-to-day active management of client portfolios, triggered some significant gains for clients this year so we’ve already started to do this. However, since it’s no slam-dunk that the Feds will follow through with this, we have not traded the entire portfolio to trigger all the gains this year. Instead, we’ve taken a ‘middle of the road approach’ by triggering some gains as we’ve re-positioned the portfolio for more growth.

3. Consider a spousal loan. There are few opportunities to split income between partners so one easy strategy to do this is by loaning funds to the lower-income earning spouse. Garth writes a lot about this strategy so readers should be well versed on this. Basically the high-income earning spouse lends money at a ‘prescribed rate’, which currently is set at 1% by the CRA, to the low-income spouse. The lower income spouse then invests the funds and if the returns are above the 1% lending rate, then you have effectively shifted the income and gains earned to the lower income spouse, which is taxed at a lower rate. To complete this strategy documentation of the loan must be kept and the borrowing spouse must pay the interest on the loan by January 30th in the year following the beginning of the loan.

4. Collect all receipts/statements of expenses that can be written off. This would include things like investment management fees and home office expenses. For investors who pay investment management fees, they can write off the portion of management fees that are charged in the non-registered or cash account. You cannot write off any investment fees that were charged in registered accounts. With the pandemic and many of us working from home, some employees will be able to write off a portion of the costs incurred while working from home. This includes things like internet charges, the purchase of home office equipment and a portion of insurance and utility expenses. You may want to talk to your employer about this as you will likely need the Form T2200 to deduct these home expenses.

5. Seniors should consider withdrawing funds in a low-income year and base RRIF withdrawals on younger spouse’s age. In any particular year when your income is low then it makes sense to withdraw funds from RRSPs or RRIFs even if you don’t need the funds as you’ll be taxed at a lower rate. When setting RRIF withdrawal rates use the younger spouse’s age as this will lower the required minimum annual amount and further defer taxes.

6. Make a charitable donation and claim the tax write-off. Covid-19 has had a terrible toll on many people, the poor and less advantaged disproportionately so. This is why, now, more than ever we should be giving back to those less fortunate than ourselves. The Turner Investments team is currently in the midst of our year-end charitable giving campaign and we plan to do even more than in past years given the need. And it feels pretty good! You can make a donation by cash/credit card or donating eligible securities. You could consider donating securities with a capital gain since the government forgoes the capital gain and taxes on security donations.

Finally, below is a list of important tax dates for individuals and business owners. This, combined with some of the tax tips outlined above should get you more than halfway to completing your taxes this year. And no H&R Block cost of $69. Bonus!

Important Tax Dates to Remember

Source: Raymond James Ltd. (Click to enlarge)
Ryan Lewenza, CFA, CMT is a Partner and Portfolio Manager with Turner Investments, and a Senior Vice President, Private Client Group, of Raymond James Ltd.

 

96 comments ↓

#1 LewenzaCountry aka Prince Polo on 11.20.21 at 8:59 am

The amount of free advice dished on this blog qualifies it for its own charitable donation receipt! Do you think CRA will accept the slips populated by crayon?

#2 THE DANDADA on 11.20.21 at 9:16 am

So the CRA will never question how much you’ve yanked out of a TFSA account on Dec 15th…..1K, 100K, 1Mil, 10Mil?

And that get’s added to next years contribution limit?

#3 SW on 11.20.21 at 9:19 am

Excellent article, Mr. L.

The Canadian Red Cross has an appeal to support our suffering fellow Canadians in British Columbia, as I’m sure you know.

#4 Flop… on 11.20.21 at 9:34 am

In my world, making a charitable donation and considering a spousal loan is the same thing…

M47BC

#5 Phylis on 11.20.21 at 9:48 am

#2 THE DANDADA on 11.20.21 at 9:16 am
So the CRA will never question how much you’ve yanked out of a TFSA account on Dec 15th…..1K, 100K, 1Mil, 10Mil?

And that get’s added to next years contribution limit?
Xxxxx
Yes they can and do, certainly on the later amounts. Expect them to ask earlier in those cases.

https://www.advisor.ca/tax/tax-news/clients-day-trading-in-their-tfsas-theyre-ultimately-liable-for-the-tax/

#6 Dharma Bum on 11.20.21 at 9:51 am

You forgot Tip No. 7:

Launder your money and bank it all offshore.

Seems to have worked for lots of people, with impunity.

CRA spends most of their time chasing nickels and dimes from poor slobs they can push around easier.

#7 Tarot Card Tax Tips on 11.20.21 at 9:56 am

Thank you for the blog Garth
Thank you for the post Ryan

I would like to add a few things that I have learned based on completing tax returns for friends and family.

Medical expenses often overlook as people feel it cannot amount to anything. Most of the time they are correct. However, always claim on the spouse with the lowest income, include any insurance premiums. Box 85 on the T4 slip. You would be amazed how much you spend a year on drugs eye glasses hearing aids and so forth, again look at all the eligible items on CRA website, even after you claimed medical expenses with a company insurance plan.
Also, You can get a printout from companies like sunlife for any 12 month period ending in 2020.

Donations are best to accumulate for five years as it is progressive the more you give the larger the deduction.
This time on the higher income spouse.

many banks do not mail T5 slips so always go to the bank web site and double check
You can also check my account at CRA however I have found it can take months to get to CRA so it’s more a check.

And finally download or upload your tax slips especially T5008:from the CRA my account, directly into your tax program. Last year I had 80 trades …. So it was far easier than a spreadsheet and or typing it all in on the tax program. Besides CRA will only use those T5008 from the my account in calculating your tax.

Good luck!
Any questions best to check the CRA website.
Have a great weekend

#8 LewenzaCountry aka Prince Polo on 11.20.21 at 10:00 am

#8 Ponzius Pilatus on 11.18.21 at 5:24 pm
Interesting, our friends are also looking to liquidate their rental property in Vancouver.
Tired of the hassle playing amateur landlord.
Trying to figure out a way to get around paying the capital gains taxes, which could be huge.
Should be interesting.

I sure hope CRA finds these shyster scofflaws and hammers them mercilessly for evading taxes. Trot them out on the front page of all newspapers. Oh who am I kidding? They’ll probably get the Order of Canada!

#9 Sail Away on 11.20.21 at 10:11 am

Ah yes, tax season. Always an enjoyable time. The SA household will be cutting some whopping big capital gains cheques this year.

The Turbotax/Quickbooks packages continue to improve and parent company Intuit (INTU) is a true investment superstar.

#10 SoggyShorts on 11.20.21 at 10:17 am

#2 THE DANDADA on 11.20.21 at 9:16 am
So the CRA will never question how much you’ve yanked out of a TFSA account on Dec 15th…..1K, 100K, 1Mil, 10Mil?

***********
The CRA has some intentionally vague language regarding many things.
Basically, if you mess around they’ll mess you up.
If you’re sitting on or pulling out 1m+ from your TFSA they might look hard at it to determine if you are using it as a business and then at their discretion make you pay tax on the gains.

#11 Sorry_Surrey on 11.20.21 at 10:21 am

Ryan,

You can pretend all you like, that you are just like “rest of us”, but I will bet my mortgage that almost nothing gives you as much joy as lining up all the receipts in perfect order. Disorder is your nemesis.

Admit it sir; you are a keener and thrive on order and logic. Shoebox accounting and a steaming heap of receipts on the dashboard of a work van would drive you to drink.

But its nice of you to be humble and try to blend in with the common folk. Appreciate your thoughtful analysis of markets and your time towards educating the masses.

#12 Bezengy on 11.20.21 at 10:30 am

#8 Sail Away on 11.20.21 at 10:11 am

The Turbotax/Quickbooks packages continue to improve and parent company Intuit (INTU) is a true investment superstar.

———————————-

Absolutely, use Quicken or a similar product to keep track of your assets and liabilities, and make your decisions based on how it affects the bottom line.

My taxes take less than 10 minutes to complete (thanks to my linked CRA account) using their product. Told my accountant I could no longer justify his $300 charge.

#13 Observer on 11.20.21 at 10:44 am

#73 BillyBoob on 11.19.21 at 11:23 pm

“@faron – you do realize BillyBob isn’t a real person, right? He’s a caricature. (I think about 99% of the people who bother to read the comments realize this.) You on the other hand actually seem to BE the things you write, which is extremely amusing.”

You mean you are not actually a jerk in real life?

#14 the Jaguar on 11.20.21 at 10:48 am

Full page add taken out by donors of the WE charity in today’s NP. What appears to be a ‘plea to the CBC’ to kill a story the Fifth Estate is about to broadcast. Incredible.
‘Nonetheless, the CBC has continued down an ill-informed path. The Fifth Estate has repeatedly reached out to many of us and/or to members of our organizations over the last few months. We do not agree with their thesis that we, as donors, were misled about the projects in Kenya.’

Imagine it’s in the G&M as well.

#15 Dave on 11.20.21 at 10:52 am

What are the odds that Crystia Freeland (should call her Taxland) will go even further than raising cap gain inclusion rate to 75%. maybe they will even go after unrealized gains to get the dippers on board

#16 None on 11.20.21 at 11:00 am

I don’t have a ton of RRSP room and I don’t get a ton of surplus because I have a gov pension (yay!). Wouldn’t it make sense to save this room in the event that tax brackets go up?

One thing missing from this post (which was news to me last week (thanks Garth)) is to be careful moving securities that are in a loss position directly from a non-registered account to your RRSP/TFSA. Doing so will result in a loss of the capital losses due to being victim to the ‘superficial loss rule’.

I’m waiting to move over mine til after dividend distributions late in December. Not sure if that’s the ideal tax minimizing strategy but I figure it can’t be worse. Seems like a decent strategy to make best use of RRSP room and dividend tax rates (which will reduce the value of the stock before i move it over).

#17 Ponzius Pilatus on 11.20.21 at 11:29 am

8 Sail Away on 11.20.21 at 10:11 am
Ah yes, tax season. Always an enjoyable time. The SA household will be cutting some whopping big capital gains cheques this year.

The Turbotax/Quickbooks packages continue to improve and parent company Intuit (INTU) is a true investment superstar.
———————-
Another year of disappointment in the fictional Sailo household.
Hubris and wishful thinking do not accrue capital gains.

#18 Faron on 11.20.21 at 11:42 am

#12 Observer on 11.20.21 at 10:44 am

#73 BillyBob on 11.19.21 at 11:23 pm

You mean you are not actually a jerk in real life?

Hah. Nailed it. Poor The Jaguar — she seems lonely and so fervently pines after BillyBob. While you GotMeGood, you really should think of the poor, broken-hearted ones. Was it worth it?

I am impressed he/she/it can simulate a person that has such a crushingly fragile ego while being an insensitive doof. Sail Away lite. Kudos!

#19 Alberta Ed on 11.20.21 at 12:03 pm

Use a spreadsheet to track your income and expenditures, especially tax deductible things like donations, home office and medical expenses. Keep all of your receipts. Keep notes from previous year’s filings to help you through the tax maze. Use a tax program if you are a math phobic. Buy yourself a nice single malt with all the $ you save by not sending more than necessary to Ottawa to be squandered.

#20 crowdedelevatorfartz on 11.20.21 at 12:13 pm

I’m way, way, way ahead of you Ryan,
Almost maxed out for this years, RRSP’s, mid Dec should see the final installment .
The tax refund would pay my TFSA for next year if I needed it ..but I dont.
Any tax refund will be poured into next years RRSP contribution to start the year off right..
:)

#21 Non-Smoking Man on 11.20.21 at 12:23 pm

Make a charitable donation and claim the tax write-off.

===================
To the people and economy of BC, and Canada.

#22 Sail Away on 11.20.21 at 12:48 pm

Haha, the Perennial Peaceful Portland Protestors are rioting again. Citizens should protect property. I understand that thins the herd of idiots.

https://www.google.com/amp/s/abcnews.go.com/amp/US/wireStory/rittenhouse-protest-portland-oregon-declared-riot-81294500

#23 Cici on 11.20.21 at 1:21 pm

#13 Jaguar

My Gawd, that is horrible.

And check out Senior Director Carol Moraa’s big slip in the 3rd video posted on the following CBC webpage, where she condones politicians and the media for using spreadsheets (sin!) to hold the organization accountable, saying that they haven’t had a chance to see the “Mamas building… sorry, the Mamas doing their, you know, financial literacy lessons”.

https://www.cbc.ca/news/canada/we-charity-misled-donors-records-show-1.6251985

Very interesting slip. Wonder if it actually is the “Mamas” building these houses, how much whoever’s building them is being paid or whether it’s a question of “free labour” (otherwise known as…).

Despicable.

#24 crowdedelevatorfartz on 11.20.21 at 1:34 pm

@#21 Sail Away

https://www.google.com/amp/s/abcnews.go.com/amp/US/wireStory/rittenhouse-protest-portland-oregon-declared-riot-81294500

Ahh yesss.
The “dial a mob” anarchists that will riot at the drop of a hat over any issue they find “offensive” and embrace the politically correct mantra as their own.

Proving once again that they are incapable of running a garbage dump let alone any other area of society.

#25 TurnerNation on 11.20.21 at 1:38 pm

Supply chain.
Life in Former First World Country. That ‘stupid leaked memo’ said Shortages in Q3.
That last time we had gas rationing was…WW2. So this is WW3?
Control over travel. CHECK. Natural disaster or was it helped – to shut down every route into Van at once? You decide – but the end outcome is part of the #reset.
2020 was just training. On Essential and Non Essential. Now you see it?

https://news.gov.bc.ca/releases/2021EMBC0073-002212
“Province prioritizes fuel for essential vehicles, introduces travel restrictions
Non-essential vehicles, including the general public, will be limited to 30 litres per trip at retail gas stations.”

—Remember, once they begin cutting First Responders in Rural areas, then the insurance companies will deny coverage, and all will be forced off their land and into the crowded UN Smart Cities. Your first hint was that new condo construction was the only thing not shut down during the Economic Lockdowns/Reset of Q1 2020.

–Almost back to normal guys! This is like totally normal in First World Countries. The CV rules are Permanent.

.Rotterdam police open fire as Covid protest turns violent (theguardian.com)

.Norway: “In addition to reintroducing corona passports and border controls, Norway also introduce different local restrictions in different municipalities. For example reimplementing mask mandates, social distancing and similar.” (nettavisen.no)
——-
——-

Who is surprised? From Aguust:

#24 TurnerNation on 08.28.21 at 1:06 pm
Things which have the permanency in Kanada:
1. Fictional ‘State of Emergency’.
2. Flags at half mast
3. CV Rules. Always the rules Comrade.

#26 Wrk.dover on 11.20.21 at 1:40 pm

Yo Fartz; I don’t know how the program was run, but during the OPEC embargo in early 1974, construction employers had plenty of gasoline to drive us stranded employees to work with in Lee County Florida.

Back in the good old days when governments functioned well. All done by clerk and paper.

Good luck B.C.

(Mint condition 10 year old land yachts were plentiful for a weeks pay each by the end of it.)

#27 pPrasseur on 11.20.21 at 2:12 pm

Moreover, with the high government deficits and accumulated debt from the Covid-induced recession, some are speculating that the Federal government could increase the capital gains inclusion rate next year.

We are heading (if not already in) stagflation.

What we need the most to avoid this is private sector growth, I doubt we will get it but in any case the stupidest thing to do right now would be to raise taxes on investment. Even the crazy Liberals know this.

#28 Roial1 on 11.20.21 at 2:12 pm

“Psst” hey, wana really great tax write off??

Find out if your local Habitat for humanity is doing the conversion of shipping containers to “homes for the homeless”.
You can have one done for only 25,000$

Now that’s a tax write off.
Puts money right where it is needed, without gov. miss-management in between. It’s legal too.

#29 Stealth on 11.20.21 at 2:14 pm

Thank Ryan, excellent post.
I also absolutely love preparing for taxes. My favourite thing obviously are 40+ different T3 and T5 slips for all non registered account trades and their underlying sub components including return of capital, capital gain interest, foreign income etc, then using it to calculate adjusted cost base across multiple accounts.
Mmmmmm…..loving it.

For the rest of normal citizens if that sounds a bit less than ideal fun, yes get an advisor.

Anywho why doesn’t your chart show deadline for T5slips ?

Thank you

#30 Ryan Lewenza on 11.20.21 at 2:31 pm

THE DANDADA “ So the CRA will never question how much you’ve yanked out of a TFSA account on Dec 15th…..1K, 100K, 1Mil, 10Mil?

And that get’s added to next years contribution limit?”

Correct. Whatever you pull out of the TFSA you can re-contribute in the following year. But if you’re pulling out that kind of change then the CRA might review the trading in the account and could claim your over trading the account and could start taxing those big gains. – Ryan L

#31 Ryan Lewenza on 11.20.21 at 2:44 pm

Sorry_Surrey “ Ryan, You can pretend all you like, that you are just like “rest of us”, but I will bet my mortgage that almost nothing gives you as much joy as lining up all the receipts in perfect order. Disorder is your nemesis.

Admit it sir; you are a keener and thrive on order and logic. Shoebox accounting and a steaming heap of receipts on the dashboard of a work van would drive you to drink.

But its nice of you to be humble and try to blend in with the common folk. Appreciate your thoughtful analysis of markets and your time towards educating the masses.”

Over the years I have developed a decent system of keeping track of my receipts and started using an excel spreadsheet that helps but I still hate the day or two when I have to pull everything together. – Ryan L

#32 Baba Novac on 11.20.21 at 2:52 pm

Thanks for the tips, Ryan. Much appreciated.

Do you intend to continue this “middle of the road” approach for client portfolios into early 2022? Meaning, do you expect to realize some more capital gains into the next tax year, before the Budget Bill is tabled (that might raise CG inclusion rate)?

#33 Quintilian on 11.20.21 at 2:57 pm

All perfectly legal Ryan, but with the exception of the charitable donation tax write-off, it violates a moral unwritten code.

To illustrate:

There is a major mortgage broker whose media ads has a client bragging how the broker saved them a couple thousand dollars a month on their mortgage.
Sounds good right?

Only until you drill down, not even too deeply, to realize that couple of thousand dollars comes from old age pensioners savings.

The tax deduction on one side of the ledger comes from deducting from anther side of the ledger.
You decide what’s right for you.

#34 LewenzaCountry aka Prince Polo on 11.20.21 at 3:16 pm

#17 Faron on 11.20.21 at 11:42 am
I am impressed he/she/it can simulate a person that has such a crushingly fragile ego while being an insensitive doof.

Is this intended to be ironic stand-up comedy?
That’s gold, Jerry! Gold!
https://www.youtube.com/watch?v=j0qm0KUPeD8

#35 Albertaguy in AB on 11.20.21 at 3:17 pm

I find that completing my personal tax return is getting easier and easier over past couple of years as you can download all T slips into HRBLOCK online software from CRA. A real time saver. And efile online. No charge unless you want to pay for some audit protection – usually under $20.

Q: since CRA already has the t-slips cant they just do the return for me and tell me if i have a refund or owe? The only thing I should need to provide is any income or losses not shown on Tslips, donations and health expenses and perhaps a choice to use unclaimed capital losses from previous years…inquiring minds want to know.

#36 mark on 11.20.21 at 3:27 pm

My least favourite articles on the internet – the tax time reminder! argghhhhhhhhhh!

Sorry, I was hoping for something interesting today.

#37 Flop... on 11.20.21 at 3:32 pm

I just got back from my local No Frills supermarket.

The whole meat section was empty, save a couple of packs steaks up one end, and a couple of sad looking chicken drumsticks down the other.

I hit the frozen food section hard, spent a hundred bucks on family size lasagnes and stuff, to backstop the fresh pasta and sauces as well.

I’ve driven my RV all over North America with a plastic gas can for back up just in case I felt I was going to go totally off the beaten track.

My vehicle has two gas tanks on it so you have to be doing something crazy to need to fill the emergency can so I never did.

I kept it clean just in case I needed to put water in it to survive, drinking gas might put you out of your misery but I’ve been in some jams before, sometimes the best thing to do is nothing, good people will eventually come along and help you help yourself.

Today, after buying that gas can 15 years ago, I’m going to the service station to put gas in it, I don’t know yet who is going to need it, but someone will at some stage…

M47BC

#38 Angry White Male on 11.20.21 at 3:35 pm

#23 crowdedelevatorfartz on 11.20.21 at 1:34 pm
@#21 Sail Away

https://www.google.com/amp/s/abcnews.go.com/amp/US/wireStory/rittenhouse-protest-portland-oregon-declared-riot-81294500

Ahh yesss.
The “dial a mob” anarchists that will riot at the drop of a hat over any issue they find “offensive” and embrace the politically correct mantra as their own.

Proving once again that they are incapable of running a garbage dump let alone any other area of society.

_________________________________________

Thank you fartzy and Sail Away. Comments like yours make me feel so comfortable.

#39 Nonplused on 11.20.21 at 3:49 pm

#14 Dave on 11.20.21 at 10:52 am
What are the odds that Crystia Freeland (should call her Taxland) will go even further than raising cap gain inclusion rate to 75%. maybe they will even go after unrealized gains to get the dippers on board

—————————–

In some ways I am looking forward to an attempt to include “unrealized capital gains” in the tax code, if for no other reason than to watch the spectacle of it. It’ll be like watching two dummies trying to catch a fish with a shovel.

The first part of the failure will come of course when, as Elon has proven without a possibility of a doubt, it is realized that “unrealized capital gains” are not money. They are a mark-to market-assessment. The only way to convert them into money is to sell. The only way to sell is to find a buyer that has money, but all the potential buyers already have all their “wealth” in some sort of capital instruments like stocks or bonds. They don’t have any money either. The Robinhood crowd is going to have to pick up the slack or we are going to see a whole lot of mark-to-market do what it so often does and disappear into the ether from which it came. All you have to do is change the “last trade” price in your excel spreadsheet and poof, it is all gone. Raising the price in your spreadsheet is how the “wealth” got there, and lowering it will just as certainly make it disappear again.

The second fun part will be when somebody at the budget office points out that you can’t include “unrealized capital gains” taxes in the budget in current years and then also include the money in later years when the assets are sold as a normal course of business or upon death, because the gains have already been taxed and the assets partially sold to cover the tax. All this wanton exercise in futility is going to do is bring revenues forward (maybe, assuming they don’t cause a market selloff), resulting in larger deficits later on. With interest rates so low, the NPV of this exercise makes no sense given the risk it could present to markets.

But they’ll do it anyway. There are a lot of people out there who can’t tell the difference between mark-to-market and money.

(And no, because I can hear it coming, nobody pays tax on “open mark-to-market” positions. That only happens on closed positions (the product has been both bought and sold forward) and the company wants to declare the profit well before they receive it to make the books loo better. Paying taxes on an open position would be just stupid. You have no guarantee you are ever going to see the money. Prices go up, but they also go down.)

#40 Nonplused on 11.20.21 at 4:00 pm

#27 Roial1 on 11.20.21 at 2:12 pm
“Psst” hey, wana really great tax write off??

Find out if your local Habitat for humanity is doing the conversion of shipping containers to “homes for the homeless”.
You can have one done for only 25,000$

Now that’s a tax write off.
Puts money right where it is needed, without gov. miss-management in between. It’s legal too.

————————————-

I wonder why FEMA used RV trailers after Katrina instead of shipping containers?

Oh ya, cheaper, more readily available, easy to move, complete, and livable.

But nope, now we are going to put the poor in steel boxes for a tax right-off!

#41 My Karma Ran Over Your Dogma on 11.20.21 at 4:07 pm

As I heard Tom Waits once say: “I’d ready have a bottle in front of me, than a frontal lobotomy”

#42 Dolce Vita on 11.20.21 at 4:09 pm

Year-end tax-shrinking tips

8. Shrink CRA.
The World a better place with fewer Tax Bean Counters. *

————

Off Topic

UK Doc Campbell video on correlation of fully vaxd vs. hospitalizations, are we better off?

https://youtu.be/Sy54I6fGFEA?t=582

Correlation is Negative = Strong, max = -1 (Pattern)
R-squared of 73% = Moderate to Strong (Model Strength)

Et voilà:

https://i.imgur.com/qwIVz2j.png

———————-

* Correlation = 1 or -1, take your pick
R-squared = 100%
χ2 Chi-square really, really low as in lower than a snake’s belly, rut of a wheel low (threw that in ’cause I’ve always liked that symbol)

#43 Sail Away on 11.20.21 at 4:18 pm

This is a truly chilling indictment on factual reporting:

https://www.google.com/amp/s/amp.usatoday.com/amp/8686176002

#44 Dogman01 on 11.20.21 at 4:30 pm

#22 Cici on 11.20.21 at 1:21 pm
#13 Jaguar

ww.cbc.ca/news/canada/we-charity-misled-donors-records-show-1.6251985

Grifters …

For years I worked in an organization filled with what would be termed a “Progressive” culture.
There was always a lot of ideals spawning projects and often a complete failure to execute and always a failure to execute optimally.

The idealists knew they were right, sure their cause was righteous. So proposals were “padded” , the truth was stretched, facts ignored. Money wasted, anyone questioning things is an “enemy” to the cause.

I am sure that is the WE Charity Culture, also the Climate Change Industry Culture, the ESG Culture and the Aboriginal Industry Culture.

Good causes, overseen by a predatory class of “Grifters” hijacking their emotional followers (useful idiots) always ensuring there are no clear metrics…. “its open for business like a cheep bordello”

“We are societies of altruists governed by psychopaths, that those who claim to represent us, those who get into positions of power, are very often wildly different in that psychology to those whom they claim to represent.” – George Monbiot

Corporations work as they are designed to expect and harness “greed” and have good accounting.

#45 Dolce Vita on 11.20.21 at 4:32 pm

Forgot to mention this about the fully vaxd vs. hospitalizations Pattern, Model chart.

Which countries have the most SUSPICIOUS data? [bold in table below]

Which countries top the BS METER list [highlighted in table below]:

Sweden, Heavy Weight champion of the World in BS
Canada, runner-up (then again, look who’s running the country)

Et voilà:

https://i.imgur.com/3TWdhZl.png

——————-

I wonder if there is a correlation in BS Covid reporting vs. nearest the North Pole?

I’m guessing here, but probably a +1 correlation and 100% goodness of fit for Sweden and Canada.

#46 cuke and tomato picker on 11.20.21 at 4:32 pm

A headline in the Penticton Herald says results of a survey
say some private cannabis stores are not viable. We
avoided investing cannabis or the edible version.

#47 TurnerNation on 11.20.21 at 4:38 pm

Weekend checkup. Life in Kanada.
Guys a very busy few years coming up. We together will be controlling/altering the Climate. We will be like Climate Gods! Take that Earth. CTV says so.

https://www.ctvnews.ca/mobile/climate-and-environment/abbotsford-water-pump-an-example-of-broader-climate-change-infrastructure-issues-experts-1.5671398
“The study suggests that even under the best-case global emissions scenario — which means global warming is kept to less than two degrees Celsius – the costs associated with damages to the Lower Mainland from flooding is still expected to cost about $400 million per year in the next 20 years or so.”


— For 50 YEARS OF MAPLE LEAF INCOMPETENCE. A cruel brand of Kommunism here. Seen on Reddit:

“”I work in Toronto, during lockdown I lost my business my savings. Pretty much my entire life. Plus more, way more. That aside. I now essentially have no choice but to do 50hr Ubereats work weeks. I do about 30 orders a day. So I interact with people, customers. Businesses, security. Concierge. Randoms. Other drivers. Etc. Toronto is VERY pro lockdown. Pro vax. Pro communism. Pro mandates. It’s not uncommon to pass by people talking about putting unvaxxed people in jail or murdering them. (no, I’m not exaggerating. Came across it twice last week alone. Everyone downtown and I mean 95% are full mask. Full on distancing and generally treating everyone else they don’t know like complete inhumane garbage.
I can tell you with utmost certainty, these people have become angry, authoritative, power tripping, cruel and generally rude to every person they don’t come across often. Now I know service people and delivery drivers in general have always been treated as unwanted trash. But I’ve seen a bold increase in just two years of this job””


— Weekend reading for all the spike protien fans. A new study. Control over our breeding/DNA?

https://www.mdpi.com/1999-4915/13/10/2056
” Here, by using an in vitro cell line, we report that the SARS–CoV–2 spike protein significantly inhibits DNA damage repair, which is required for effective V(D)J recombination in adaptive immunity.

#48 Nonplused on 11.20.21 at 4:39 pm

On to another topic:

https://calgary.citynews.ca/2021/11/19/bc-gas-travel-restrictions/

Another great government idea. Does restricting fuel purchases actually reduce the amount of gas people buy? Or does it simply cause them to have to wait in line more often, idling away valuable gasoline? You have to get them to drive less in order to reduce fuel consumption, and I think mother nature already took care of that.

However I have to admit a certain amount of Schadenfreude watching all the areas most opposed to Alberta oil pipelines running out of fuel. First Texas (well, that was Biden not Texas), now BC, next up Wisconsin. Please keep in mind when it is your turn that it wasn’t our idea.

#49 Yukon Elvis on 11.20.21 at 4:43 pm

#37 Angry White Male on 11.20.21 at 3:35 pm
#23 crowdedelevatorfartz on 11.20.21 at 1:34 pm
@#21 Sail Away

https://www.google.com/amp/s/abcnews.go.com/amp/US/wireStory/rittenhouse-protest-portland-oregon-declared-riot-81294500

Ahh yesss.
The “dial a mob” anarchists that will riot at the drop of a hat over any issue they find “offensive” and embrace the politically correct mantra as their own.

Proving once again that they are incapable of running a garbage dump let alone any other area of society.

_________________________________________

Thank you fartzy and Sail Away. Comments like yours make me feel so comfortable.
++++++++++++++++++++++
The riots only happen because the governments in place allow/encourage them. Different governments would discourage/punish the rioters. The local voters are at fault. Simple as that.

#50 Yukon Elvis on 11.20.21 at 5:06 pm

#42 Sail Away on 11.20.21 at 4:18 pm
This is a truly chilling indictment on factual reporting:

https://www.google.com/amp/s/amp.usatoday.com/amp/8686176002
+++++++++++++++++++++
No enforcement or penalties for libel and slander and misrepresentation. What else can we expect?

#51 Wrk.dover on 11.20.21 at 5:19 pm

#45 cuke and tomato picker on 11.20.21 at 4:32 pm
A headline in the Penticton Herald says results of a survey
say some private cannabis stores are not viable. We
avoided investing cannabis or the edible version.
__________________________________

A local CBC news report this week said the NS liquor commission has stopped pushing pricey three gram bags of dope and is now selling weighed ozs for $100., credit cards accepted!

Deflation in that plan is knee capping clandestine growers and dealers.

Amazing strategy, but I can’t imagine publicly traded R-2000 grade companies being able to produce the pre-tax portion of that final price.

#52 DON on 11.20.21 at 5:51 pm

#47 Nonplused

In the areas under restrictions you can’t really go anywhere of great distance so 30 liters is enough to burn around town. If you need to get out of town you can, just means you have to gas up along the way. Besides it damp and cold out people are inside.

Yet…people were panic buying with multiple gas tanks and jerry cans (fear). A friend witnessed a guy unload 15 jerry cans and proceeded to fill them all up. Saanich BC while people sat and waited to get gas on the way home from work. Another in line walked up and told him that if he filled up one more jerry cans he would pour it all over his truck. The manager got involved and told Tom gas can to leave. The Malahat is open so supplies are no longer hindered, the island gets its gas from Washington State refineries.

You can’t stop the sentiment of fear of missing out from snowballing to people horading gas and food. Reminds me of the Toilet Paper Wars.

Imagine an earth quake.

#53 BillyBob on 11.20.21 at 5:53 pm

DELETED

#54 Ryan Lewenza on 11.20.21 at 5:57 pm

Baba Novic “ Thanks for the tips, Ryan. Much appreciated.

Do you intend to continue this “middle of the road” approach for client portfolios into early 2022? Meaning, do you expect to realize some more capital gains into the next tax year, before the Budget Bill is tabled (that might raise CG inclusion rate)?”

Possibly since we’re working on our 2022 outlook and trade ideas. But again any realized gains will be driven by our normal management of client portfolios rather than simply triggering gains ahead of these potential changes. – Ryan L

#55 Ryan Lewenza on 11.20.21 at 6:00 pm

My Karma Ran Over Your Dogma “ As I heard Tom Waits once say: “I’d ready have a bottle in front of me, than a frontal lobotomy”

This is good. I’m a huge Tom Waits fan! – Ryan L

#56 Roial1 on 11.20.21 at 6:22 pm

#39 Nonplused on 11.20.21 at 4:00 pm

But nope, now we are going to put the poor in steel boxes for a tax right-off!

So what do you suggest? It’s that or sleeping in the woods to over winter.

By the way, These are very comfy compared to tents.

#57 Faron on 11.20.21 at 6:34 pm

#52 BillyBob on 11.20.21 at 5:53 pm

BillyBob, three more deaths have been discovered as a direct result of the BC rainfall event. I’m curious, did they “deserve” their fate two, or is it just the one person who died?

#58 Steven Rowlandson on 11.20.21 at 6:34 pm

Earn scrooge approved wages.

#59 Faron on 11.20.21 at 6:34 pm

#49 Yukon Elvis on 11.20.21 at 5:06 pm

Good thing right wingers never slander the left. Right?

#60 Flop… on 11.20.21 at 6:50 pm

I’m trying to fund my own retirement, I know a lot of people on here come across as more self sufficient than the rest of society.

I was slow to jump on the TFSA train, so was my wife, I was sidetracked feeding my superannuation in Australia and my wife was happy feeding the larger amounts allowed into her RRSP.

Anyway, 5 lost years, gone never to return but we are both now on the tfsa train chugging along without touching our other investments.

Indecision over what hemisphere to work and retire in has perhaps cost me but you go with your gut and you’re responsible for yourself until you’re not.

Let’s have a look at this recent pension article to see what sort of safety net this trapeze artist is working with.

https://www.visualcapitalist.com/ranked-the-best-and-worst-pension-plans-by-country/

So the Scandinavian countries have the best pension plans for their citizens apparently.

Australia’s is up the near the top at 75 on the index comprised of sustainably, integrity and adequacy.

Canada comes in near 70, another option for me, New Zealand not far behind.

Surprises?

Probably thought Saudi Arabia might be using some of the oil money to pad the public pension.

Japan well down the list as well.

Don’t even get me started on Italy and Austria.

If I bail, I’ve got a good country to bail to in Australia.

If I fail, I’m probably in a good place to fail in Canada.

If Canada goes anymore left, pretty soon Nova Scotia is gonna line up above Washington State on a map of the world…

M47BC

#61 crowdedelevatorfartz on 11.20.21 at 6:56 pm

@#52 BillyBob
Deleted

++++

Welcome to my world.
Wear that DELETED badge with honor.

#62 Flop… on 11.20.21 at 7:46 pm

Hey TurnerNation, I got a honourable mention in this article in the U.K…

M47BC

====================================

Test and Trace is being DISMANTLED cutting 10,000 jobs after £37billion is wasted on flop Covid tracking system.

THE NHS Test and Trace scheme is to be dismantled as there is no more money left, leaked documents have revealed.

The 160-page Whitehall dossier, named Operation Rampdown, showed plans to axe the £37billion flop in 2022.

A Whitehall insider told the Mirror: “The trough has run dry and the Treasury isn’t prepared to keep feeding the beast.

“The problem is, however, that cases are still rife and winter is yet to begin.

“For all its faults, it’s a dangerous game to sack contact tracers when the pandemic is still raging.”

https://www.thesun.co.uk/news/16800024/test-trace-dismantled-cutting-10000-jobs/

#63 Puck over glass on 11.20.21 at 8:17 pm

If the capital gains inclusion rate is increased next year, I presume the higher inclusion rate will also apply to capital losses, correct? It seems unlikely that they will increase the inclusion rate for gains but not for losses. That would really suck.

#64 Nonplused on 11.20.21 at 9:42 pm

#51 DON on 11.20.21 at 5:51 pm
#47 Nonplused

In the areas under restrictions you can’t really go anywhere of great distance so 30 liters is enough to burn around town. If you need to get out of town you can, just means you have to gas up along the way. Besides it damp and cold out people are inside.

Yet…people were panic buying with multiple gas tanks and jerry cans (fear). A friend witnessed a guy unload 15 jerry cans and proceeded to fill them all up. Saanich BC while people sat and waited to get gas on the way home from work. Another in line walked up and told him that if he filled up one more jerry cans he would pour it all over his truck. The manager got involved and told Tom gas can to leave. The Malahat is open so supplies are no longer hindered, the island gets its gas from Washington State refineries.

You can’t stop the sentiment of fear of missing out from snowballing to people horading gas and food. Reminds me of the Toilet Paper Wars.

Imagine an earth quake.

————————————

I have a soft spot for preppers, even do a little myself. But the time for that is before the SHTF and a little at a time. People who show up after the SHTF with 15 jerry cans or try and buy up all the remaining toilet paper piss me off.

However I am still not sure that partially filling cars helps all that much. Only so much goes in and 30 liters in a Corolla is pretty much a full tank. Even if you got a big ol’ truck once it is full you can only fit back in what you’ve already burned.

In any case price should be allowed to factor in. Nothing is going to cause 15 jerry can guy to reconsider quite like $5/liter. He’s going to have to drop $1500 bucks to fill 15 of them. If he’s got somewhere to go that badly, maybe he needs the gas more than I do.

Ya, that would raise the price of filling that Corolla to $150 a go too, which is steep, but I think it would work as well as volume limits. Everyone would buy only what they need and the price mechanism would automatically adjust people’s perception of how much they need. A volume limit with no price adjustment makes the volume limit the target no matter what you need and encourages people to go around to the back of the line or the next station for another go.

I remember when they first brought in the lower credit card limits to reduce theft and gas prices ran. They didn’t think about my 130 liter diesel tank. Did I just drive away with 3/4 of a tank? Nope. I swiped twice. All you need is a second credit card and even dollar limits don’t work.

#65 crowdedelevatorfartz on 11.20.21 at 9:43 pm

@ Floppie

Interesting Pension rankings.
Iceland surprises me since they were bankrupt only a few years ago.

Congrats on the mention in the UK article.
I know that feeling of swelled pride.
Every time there’s another article on Cow Farts…my heart skips a beat.

#66 crowdedelevatorfartz on 11.20.21 at 9:46 pm

@#56 Faron
Gloating over the dead to prove a point?
Does the term “ghoul” ring a bell?
Time to move on.

#67 Doug t on 11.20.21 at 9:47 pm

#46 TurnerNation

Keep up the good work brother

#68 My Karma Ran Over Your Dogma on 11.20.21 at 10:36 pm

I realized I should have typed rather than ready when I quoted Tom Waits: I’d rather have a bottle in front of me than a frontal lobotomy. When I heard Tom Waits say that he was on The Dinah Shore show and actually did pull a whiskey bottle out of his jacket.

#69 Scaron on 11.20.21 at 11:01 pm

65 crowdedelevatorfartz on 11.20.21 at 9:46 pm
@#56 Faron
Gloating over the dead to prove a point?
Does the term “ghoul” ring a bell?
Time to move on.
………
If Faron were a dog, he’d be one of those annoying, yappy little ankle-biters.

#70 West Coast Bob on 11.21.21 at 4:44 am

At the beginning of the Wuhan Pandemic (yeah…it really did originate in China) , the globalusts in high places denied it’s existence. The WHO went into total denial beginning in November 19 and went into lockdown on news until 4 months had gone by thinking up a politically not to offend China name “Covid 19”. Lots of people were already dead and dying by then.

‘Golden Week’ in China was not to be denied. China hadicked up the first whistle blower . There was money to be made. China’s tour companies had sent a million tourists to Italy, Germany, UK etc and the plague settled in around the world.

Mr Trudeau, Dr Tam and Minister Hadju steadfastly announced that Covid would never arrive in Canada. The shame campaign was on against anyone asking for border controls, flight controls, masking, those sort of tin foil hat conspiracies.

Now, if you think I’m a ranter I beg you to look back into the archives at the official pronouncements if the above mentioned characters. Masking and border tests were called out as “racist”. Ouch !!

Well then, the evil slime started killing thousands if seniors, and first was Quebec. Happily the military was called out. Quebec only care us a Trudeau tradition. He’s a self proclaimed Quebeker after all, although he wasn’t born there, nor does he reside or own property there.

Now, we see what damage us laid along this highway of tears. The collateral damage caused by panicked leaders is the many thousands of life saving surgeries cancelled….and so many dead children who traded a cancer care slot for a ghost patient after Trudeau personally freaked out at his poll numbers and went completely nutzo and shut down everything in a knee jerk response …likely his attempt at disguising the graveyards already festooned with tragedy of his own making. Why aren’t they counting the dead anymore Mr Trudeau? It’s very embarrassing ..isn’t it?

#71 Shawn allen on 11.21.21 at 5:02 am

I may have been off base in my post about government pension increases. If so someone will probably let me know.

#72 Shawn allen on 11.21.21 at 5:20 am

Indeed my comment on the percent pension increase was wrong and so my apologies.

#73 Wrk.dover on 11.21.21 at 6:05 am

#50 Wrk.dover on 11.20.21 at 5:19 pm
Amazing strategy, but I can’t imagine publicly traded R-2000 grade companies being able to produce the pre-tax portion of that final price.
______________________________________

Should read ISO-9000.

Mistake was neither drug or alcohol induced. Old age apparently. I wonder if Jamie Spears wants to run another conservatorship this soon?

#74 crowdedelevatorfartz on 11.21.21 at 7:58 am

@#61 Flop

“A Whitehall insider told the Mirror: “The trough has run dry and the Treasury isn’t prepared to keep feeding the beast.”

++++

I would pay $1 Billion newly printed Liberal dollars to see the look on our Prime Ministers face when Freeland walks in and says the exact same words.

#75 VladTor on 11.21.21 at 8:07 am

Well-known financier, head of “Scion Asset Management” fund Michael Burry, who predicted the mortgage crisis of 2008 and became the prototype of one of the heroes of the movie “The Big Short “, is preparing for the apocalypse in the stock market. In the third quarter, the investor sold almost all of his assets, leaving in the portfolio only six securities related to the so-called “sinful shares”. Among them are the papers of the military-industrial corporation Lockheed Martin and the GEO Group, which operates prisons and mental hospitals. Burry believes that the stock market is now very overheated and is heading towards a collapse. “All this excitement and speculation attracts investors until they turn into the ‘collapse of all crashes’, – Burry wrote on Twitter, but later deleted this post. Alexei Antonov, chief analyst at Russian “Alor Broker”, believes that the correction in the US stock markets , for which Michael Burry is preparing, will come as a surprise to everyone and will be caused by foreign policy events.

#76 James on 11.21.21 at 8:59 am

#65 crowdedelevatorfartz

@#56 Faron
Gloating over the dead to prove a point?
Does the term “ghoul” ring a bell?
Time to move on.

____________________________

Hmm, crowdiebaby, you are denigrating someone who reasonably objected to a post that was deleted for its nastiness.

Out of touch much?

#77 Felix on 11.21.21 at 9:49 am

The photo shows the hypocrisy and irony of this useless sub-species so well – dogawful mutts wrapping themselves in the flag, while simultaneously trying to destroy my country by pooping over all our public spaces and attacking children viciously. Plus waking everyone up in the middle of the night, turning their owners into rage-filled lunatics.

#78 BillyBob on 11.21.21 at 10:05 am

#56 Faron on 11.20.21 at 6:34 pm
#52 BillyBob on 11.20.21 at 5:53 pm

BillyBob, three more deaths have been discovered as a direct result of the BC rainfall event. I’m curious, did they “deserve” their fate two, or is it just the one person who died?

==========================================

Your fake curiosity is as distasteful as your fake empathy for these poor folks.

Exploiting dead strangers to try and extend one of your many silly GF vendettas – that’s actually beyond ghoulish and circles back to the mental health question.

Perhaps you should focus a bit more on applying your Klimate Klown Kreds towards the next incoming atmospheric river and a bit less on trying to win the internet, hmm?

#79 Dharma Bum on 11.21.21 at 10:07 am

#67 Karma Dogma

When I heard Tom Waits say that he was on The Dinah Shore show and actually did pull a whiskey bottle out of his jacket.
———————————————————————————————

Hah! Dinah Shore.

That brings back memories.

I could never figure out what her talent was, other than old arm candy for Burt Reynolds.

Burt was great.

https://www.youtube.com/watch?v=sI-pDqAe2do

#80 Observer on 11.21.21 at 10:16 am

#60 crowdedelevatorfartz on 11.20.21 at 6:56 pm
@#52 BillyBob
Deleted

++++

Welcome to my world.
Wear that DELETED badge with honor.

^^^^^^^^^^^^^^^^^^^^^^^^^^^

Or you could both try to stop being jerks.

#81 crowdedelevatorfartz on 11.21.21 at 10:47 am

@#75 St James The Grammatically Bereft.

Ghoul : a person morbidly interested in death.

Time to move on is…..Denigrating?

#82 KLNR on 11.21.21 at 10:59 am

@#60 crowdedelevatorfartz on 11.20.21 at 6:56 pm
@#52 BillyBob
Deleted

++++

Welcome to my world.
Wear that DELETED badge with honor.

lol, you are one sad human.

#83 Scaron on 11.21.21 at 11:43 am

James, cef was denigrating someone who objected to this post:

#79 BillyBob on 11.16.21 at 9:41 pm

Which still remains for posterity.

#84 Shawn Allen on 11.21.21 at 11:59 am

United States Social Security cost of living increase for 2022 will be 5.9%

5.9%!!, that seems epic in terms of inflation expectations and the added burden to the U.S. debt. Wow!

https://www.ssa.gov/cola/

CPP will not be that large an increase at all becasue Canada uses a the average of the last 12 inflation reports through October.

#85 Dr V on 11.21.21 at 12:07 pm

64 Fartz – good article here re Iceland

https://www.bbc.com/news/business-35485876

#86 Ponzius Pilatus on 11.21.21 at 12:54 pm

#75 James on 11.21.21 at 8:59 am
#65 crowdedelevatorfartz

@#56 Faron
Gloating over the dead to prove a point?
Does the term “ghoul” ring a bell?
Time to move on.

____________________________

Hmm, crowdiebaby, you are denigrating someone who reasonably objected to a post that was deleted for its nastiness.

Out of touch much?
——————————-
Time to move on, CEF.

#87 Re-Cowtown on 11.21.21 at 1:00 pm

And from the people-aren’t-stupid-but-green-ideologues- are file comes this gem.

No one could see this coming except everyone.

Expensive fossil fuels = higher pollution

Wood contains about 100X the pollutants as natural gas.

https://www.zerohedge.com/commodities/americans-panic-buy-firewood-and-stoves-amid-rapid-energy-inflation

Told ya so.

#88 Janey on 11.21.21 at 1:03 pm

Me and my spouse max out our RRSP, TFSA each year which in 2021 was a combined $37,000 which includes a $10,000 tax refund from my RRSPs each year. We have been doing the RRSPs for 12 or 13 years and have $590,000 in them and we just paid off my mortgage last week. Ironically, our RRSPs, TFSAs have averaged 3.35% in safe, boring term deposits, GICs but our mortgage rates been averaging 2.7% over the same 13 years. Our mortgage payment was a big chunk of our yearly living expenses and investment contributions, 90% of our RRSP, TFSA yearly contributions or $35,000 a year. The strategy of taking our $8,000 to $10,000 a year in RRSP tax refunds really freed up the extra yearly prepayments on our mortgage and make us mortgage, debt free by at least 4 maybe 5 years in advance. This will allow us now at 40 to even consider the opportunity to retire at least by 4 or 5 years sooner.

#89 crowdedelevatorfartz on 11.21.21 at 1:13 pm

@#85 Ponzie’s Party bus

“Time to move on, CEF.”

+++

The bandwagon’s getting full!
:)

#90 espressobob on 11.21.21 at 2:06 pm

Only thing missing in the dates to remember for self employed folk is the dreaded HST netfile. Better I suppose than GST and PST filings of old in Ontario. But still a pain.

Running a business is great fun, a lot like medieval torture. Hurts so good.

#91 kommykim on 11.21.21 at 2:33 pm

What I plan to do in retirement is draw extra out of my RRSP/RRIF to contribute yearly to my TFSA without putting me into the next tax bracket.
That way, any emergency withdrawals from my retirement portfolio are less likely to trigger extra taxes.

#92 IHCTD9 on 11.21.21 at 2:53 pm

#63 Nonplused on 11.20.21 at 9:42 pm—

I have a soft spot for preppers, even do a little myself. But the time for that is before the SHTF and a little at a time. People who show up after the SHTF with 15 jerry cans or try and buy up all the remaining toilet paper piss me off.
———

Yep, and on that note:

https://www.youtube.com/watch?v=90pkDg0N9q4

Some great footage of the damage in BC, and some video from a few months back when he was visiting and half the province was on fire. Big extremes in a short period of time.

It’s going to be a scary big bill to fix all those roads and bridges…

#93 Tony on 11.22.21 at 6:31 am

Re: #32 Baba Novac on 11.20.21 at 2:52 pm

With almost 100 percent certainty (99.999) the increase in the capital gains tax to 75 percent will be retroactive to January the 1st 2022. Anyone selling after January the 1st 2022 and budget day if a total fool who will end up on the wrong end of the stick. I guarantee this and will be back here when its officially retroactive to January the 1st 2022. This will match the date of the increase in the capital gains tax in America.

#94 Tony on 11.22.21 at 6:45 am

Re: #54 Ryan Lewenza on 11.20.21 at 5:57 pm

The increase in the capital gains tax rate in Canada will be retroactive to January the 1st 2022.

#95 Andy on 11.22.21 at 7:56 am

Very helpful column, Ryan!

#96 Therese N on 11.22.21 at 7:39 pm

I’ll be looking at this before January 1 for sure.