The short bet against Canada’s big banks, dividend ETFs and TFSA day traders’ tax woes: What you need to know in investing this week (subscribers) GlobeInvestor
Investors found carrying on a business – such as day traders – will now be held legally responsible for any tax owing on income earned in a tax-free savings account,. In the 2019 budget, the federal government proposed the changes stating the TFSA holder is “typically in the best position to determine whether the activities of the TFSA constitute carrying on a business,” and therefore should be the one held responsible for paying any amount owing in tax.
The bond market is signalling trouble ahead for the economy, weighing on Canadian bank stocks that are already facing high consumer debt levels and a wobbling housing market. Yes, these are uneasy times, but the best bet for bank investors is to stay put. For one thing, for all the gloom in the bond market, there is actually not yet a clear signal of an approaching recession. Not convinced? Then consider the downside risk of holding onto your bank stocks: It’s not that bad.
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