If an ETF pays a combination of an eligible dividend and return of capital, or foreign income and return of capital; if those distributions are applied as a payment on the line of credit, and then the available credit used to purchase additional non-registered investments, would that avoid the complications with deducting income as far as return of capital is concerned?
wait just to confirm, if you borrow from HELOC and invest in registered accounts, does those interest qualify for tax deduction? I saw somewhere those are not qualified
You need to come up with the additional 20% down payment. Beyond that, you can move it to your new home by starting with the same tax deuctible credit line balance you have on your existing home.
We are Canada's Smith Manoeuvre experts. We are the only source for all 8 strategies. We combine it with comprehensive financial planning and I'm a tax accountant. The Smith Manoeuvre group is mainly mortgage brokers that can help you get the mortgage. The difference with us is that we have also helped people figure out if it is right for them, implement it, explain the capitalizing, keep the process clean for taxes, e-file their tax returns, and then fight CRA if there is a preassessment or an audit. The certification course would not teach me anything.
@@EdRempelhey Ed, I’m in Ottawa and saw you come up on the smith manoeuvre search. It seems like you are used to handling large portfolios. Do you service accounts for proper with sub $1Mil in investable equity ?
@@Kgcottawa We are fee-for-service financial planners that write a Financial Plan for you for a fee. You can then either do it yourself or work with us Full Service to implement it, review it regularly, and work with you over the years to achieve it. We do the financial planning, which is most of it, and we refer you to an elite portfolio manager for the investments. We have no minimums. We only work with clients 100% for Full Service because we can only provide the highest level financial planning advice if we know all about you.
Thanks Ed. The reason I asked is because I wanted to do this SM strategy and when it comes to the investing portion I asked one of the certified advisers about putting the readvancing amount in to the life insurance. They said it can’t be done and that any government registered account like a TFSA or RRSP was also not accepted.
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If an ETF pays a combination of an eligible dividend and return of capital, or foreign income and return of capital; if those distributions are applied as a payment on the line of credit, and then the available credit used to purchase additional non-registered investments, would that avoid the complications with deducting income as far as return of capital is concerned?
Hi Ed, is investment that generates Fixed Income a good approch for the Smith Maneuver? Fixed Income through REIT and MIC for example?
wait just to confirm, if you borrow from HELOC and invest in registered accounts, does those interest qualify for tax deduction? I saw somewhere those are not qualified
What happens you have to purchase a bigger house?
Great question !
You need to come up with the additional 20% down payment. Beyond that, you can move it to your new home by starting with the same tax deuctible credit line balance you have on your existing home.
Are you a Smith maneuver certified professional?
are you SM certified?
We are Canada's Smith Manoeuvre experts. We are the only source for all 8 strategies. We combine it with comprehensive financial planning and I'm a tax accountant. The Smith Manoeuvre group is mainly mortgage brokers that can help you get the mortgage. The difference with us is that we have also helped people figure out if it is right for them, implement it, explain the capitalizing, keep the process clean for taxes, e-file their tax returns, and then fight CRA if there is a preassessment or an audit. The certification course would not teach me anything.
@@EdRempelhey Ed, I’m in Ottawa and saw you come up on the smith manoeuvre search. It seems like you are used to handling large portfolios. Do you service accounts for proper with sub $1Mil in investable equity ?
@@Kgcottawa We are fee-for-service financial planners that write a Financial Plan for you for a fee. You can then either do it yourself or work with us Full Service to implement it, review it regularly, and work with you over the years to achieve it. We do the financial planning, which is most of it, and we refer you to an elite portfolio manager for the investments. We have no minimums. We only work with clients 100% for Full Service because we can only provide the highest level financial planning advice if we know all about you.
Thanks Ed. The reason I asked is because I wanted to do this SM strategy and when it comes to the investing portion I asked one of the certified advisers about putting the readvancing amount in to the life insurance. They said it can’t be done and that any government registered account like a TFSA or RRSP was also not accepted.