As you know, all income, including earnings on investments, such as dividend income, must be claimed on your tax returns. If you are a Wealthsimple customer, Wealthsimple Tax will automatically complete the following on your tax return: T4RSP-Statement of RRSP Income T3-Statement of Trust Inc...
You should still file your taxes, however, because all kinds of federal and provincial programs, such as the GST/HST credit, are based on your income as reported on your income tax return. In BC, you are also eligible to claim a provincial basic personal amount of $12,580. There are ...
All returns data are hypothetical and for illustrative purposes only. Returns are not indicative of expected or estimated return rates.See disclaimer. Investing that fits your goals and values We’ll get to know you and what you’re saving for, then place you in a portfolio that helps you ge...
Wealthsimple Tax will allow you to retrieve the form you’re looking for and figure out your credit and deductions instantaneously. Because the refund is calculated with your filing, the return is displayed on a single page so you can easily review it at any time. #2. Maximum Refunds You c...
Plus, Wealthsimple Tax remains a handy tool within their suite of products. However, the pivot to exotic niche asset classes such as gold, private credit, private equity, and especially crypto – seems to undermine what made Wealthsimple special in the first place. The asset allocation issues ...
Investors should know that tax loss harvesting is only relevant when it comes to investments held in their taxable or non-registered accounts. You can use a capital loss to reduce a taxable capital gain this year, in any of the three preceding years, or in any future year. That’s a pow...
Unlike other portfolio trackers, Sharesight automaticallytracks dividend and distribution income(includingdividend reinvestment plans) and takes this into account when calculating your investment return. In the screenshot below for example, dividends make a significant contribution to this stock’s returns,...
What is RIT/RIF? RIT refers to refund of income tax. (This payment is also sometimes referred to as RIF.) A Canada RIT/RIF payment is, simply put, a tax refund that you get after filing your income tax return. Getting a Canada RIT payment can seem like a windfall—a good opportunity...
Investing is all about getting a return on your money, and figuring out your yield will give you valuable knowledge to influence your investment decisions. What is Dividend Yield? By Andrew Goldman 2 min read Dividend yields show the dividend as a percentage of the company’s current share...
Wealthsimple Tax also offers an interesting add-on service that Justwealth doesn’t have the equivalent of. So far, I’d say that when it comes to account and investing options it looks pretty close, with a slight edge to Wealthsimple. But then we have to factor in actual investable ...