Comments on: Notes From Budget 2008 http://www.canadiancapitalist.com/notes-from-budget-2008/ Helping you invest and prosper Sat, 11 Feb 2012 19:27:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Canadian Money Review http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-182062 Canadian Money Review Thu, 12 Feb 2009 04:31:18 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-182062 Talking about TFSAs: I've posted an update on the highest interests rates available (http://www.canadianmoneyblogs.com/2009/02/they-really-want-your-money-high.html). Talking about TFSAs: I’ve posted an update on the highest interests rates available (http://www.canadianmoneyblogs.com/2009/02/they-really-want-your-money-high.html).

]]> By: What to Expect in Budget 2009? http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-180386 What to Expect in Budget 2009? Tue, 27 Jan 2009 00:23:05 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-180386 [...] like last year’s budget, which introduced the Tax-Free Savings Account and provided plenty of grist for the blogger mill, this year’s budget is promising to be an [...] [...] like last year’s budget, which introduced the Tax-Free Savings Account and provided plenty of grist for the blogger mill, this year’s budget is promising to be an [...]

]]> By: Dave from GP http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117998 Dave from GP Fri, 29 Feb 2008 20:49:14 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117998 Thanks for pointing out these highlights. That is why I subsribe to this blog. Thanks for pointing out these highlights. That is why I subsribe to this blog.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117259 Canadian Capitalist Wed, 27 Feb 2008 13:13:31 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117259 oxCC: TFSA is a tax-deferred account. All the income, dividends and capital gains generated within the account are not taxed. Check out the following pages for more details: <a href="http://www.budget.gc.ca/2008/plan/ann4a-eng.asp#personal" rel="nofollow">Link</a> <a href="http://www.budget.gc.ca/2008/plan/chap3b-eng.asp" rel="nofollow">Link</a> oxCC: TFSA is a tax-deferred account. All the income, dividends and capital gains generated within the account are not taxed.

Check out the following pages for more details:

Link
Link

]]> By: 0xCC http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117254 0xCC Wed, 27 Feb 2008 12:42:36 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117254 The thing about the TFSA that I bet the government is counting on is that the contribution rate will be very low. Look at how much eligible room is unused for RRSPs, the same thing will probably happen for TFSAs. I also really like the idea of a TFSA, I want more details though. This account seems perfect for a bunch of things like retiring early, doing larger renovations on a house, saving for a down payment on a house, saving for putting lump sums into the mortgage when your mortgage interest rate happens to be low but bond or equity market returns are better. Which brings up one of the details I want to know more about, what happens to income (interest, dividends) that is generated inside a TFSA? The thing about the TFSA that I bet the government is counting on is that the contribution rate will be very low. Look at how much eligible room is unused for RRSPs, the same thing will probably happen for TFSAs.

I also really like the idea of a TFSA, I want more details though. This account seems perfect for a bunch of things like retiring early, doing larger renovations on a house, saving for a down payment on a house, saving for putting lump sums into the mortgage when your mortgage interest rate happens to be low but bond or equity market returns are better. Which brings up one of the details I want to know more about, what happens to income (interest, dividends) that is generated inside a TFSA?

]]> By: Xenko http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117158 Xenko Wed, 27 Feb 2008 05:55:28 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117158 "I don’t quite understand how TFSA works. How will the withdrawl from TFSA be taxed?" Withdrawals are not taxed. The initial deposit was effectively already taxed (how much depends on your tax bracket) since it is after-tax income. “I don’t quite understand how TFSA works. How will the withdrawl from TFSA be taxed?”

Withdrawals are not taxed. The initial deposit was effectively already taxed (how much depends on your tax bracket) since it is after-tax income.

]]> By: dropby http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117155 dropby Wed, 27 Feb 2008 05:18:40 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117155 I don't quite understand how TFSA works. How will the withdrawl from TFSA be taxed? I don’t quite understand how TFSA works. How will the withdrawl from TFSA be taxed?

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117077 Canadian Capitalist Tue, 26 Feb 2008 23:52:40 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117077 Dave: That's a great feature of TFSA because it can be used for other saving goals such as purchasing a vehicle. Withdrawals can be replenished in future years. Bryce: Yes, TFSA adds a whole new dimension to the RRSP vs. mortgage debate. Dave: That’s a great feature of TFSA because it can be used for other saving goals such as purchasing a vehicle. Withdrawals can be replenished in future years.

Bryce: Yes, TFSA adds a whole new dimension to the RRSP vs. mortgage debate.

]]> By: Bryce http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117069 Bryce Tue, 26 Feb 2008 23:18:21 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117069 Oh I've got it. RRSP to get a refund which is put in the TFSA which creates a tax free income stream that is applied to the Mortgage. Oh I’ve got it. RRSP to get a refund which is put in the TFSA which creates a tax free income stream that is applied to the Mortgage.

]]> By: Bryce http://www.canadiancapitalist.com/notes-from-budget-2008/#comment-117068 Bryce Tue, 26 Feb 2008 23:16:49 +0000 http://www.canadiancapitalist.com/2008/02/26/notes-from-budget-2008#comment-117068 So will the new debate be TFSA or RRSP or Mortgage? So will the new debate be TFSA or RRSP or Mortgage?

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