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Email this1:27 pm
October 27, 2013
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canada888 said
There is difference, I noticed someone talked about reinvestment will have a very complicated T3 form ? it is a nightmare to do tax return, caculating by myself for how much I earned? Not sure it is same for ISA
ISAs are not mutual funds or trusts. They are deposit accounts with monthly interest paid (in cash or via re-investment into more units) and the tax slip is one T5.
1:54 pm
February 6, 2023
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AltaRed said
ISAs are not mutual funds or trusts. They are deposit accounts with monthly interest paid (in cash or via re-investment into more units) and the tax slip is one T5.
Great, thank all for the info.
Now I feel I lost too much, the interest has been more than 2% for a few months, I just know this today...
2:05 pm
October 27, 2013
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No worries. ISA interest rates trend with the BoC interest rate and it has only been in the last 6 months or so that they have trended above HISA rates at digital banks/CUs. I made the switch in the July-Aug time period.
2:35 pm
January 22, 2020
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For DYN6000 is the posted rate of 4.35% after the trailing fee (client rate 4.35%) or it's before the trailing fee is deducted (client rate 4.20%)
Thanks!
2:41 pm
October 27, 2013
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MyUsername said
For DYN6000 is the posted rate of 4.35% after the trailing fee (client rate 4.35%) or it's before the trailing fee is deducted (client rate 4.20%)Thanks!
Net of trailer fee so 4.35% to you.
2:43 pm
January 22, 2020
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AltaRed said
Net of trailer fee so 4.35% to you.
That's great, thanks!
3:53 pm
October 27, 2013
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AltaRed said
No worries. ISA interest rates trend with the BoC interest rate and it has only been in the last 6 months or so that they have trended above HISA rates at digital banks/CUs. I made the switch in the July-Aug time period.
Going back to this comment earlier, brokerage ISAs never got any? minimal? mention on this site for the longest time, most likely because rates were low and because this is primarily a HISA/GIC site, not a brokerage site. Obviously the rise in BoC interest rates has swung the pendulum the other way BUT this too will likely pass yet again in a year or so if/when BoC starts dropping rates and ISAs will be forgotten again.
Folks need to make their own decisions whether 'chasing' these ISAs is now a productive use of their time for a year or two (less?more?) of superior returns.
5:09 pm
March 30, 2017
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Bill said
Regarding point #4, I noticed in my Investor's Edge account that DYN5000 & 6000 both reinvested in additional units even though at time of purchase I'd selected pay the monthly interest into the account. For MIP510 & 710 the initial orders only worked if you selected reinvest option.No big deal, as AltaRed indicated you just sell some units every month if you either want the interest or don't want to exceed CDIC limit.
I notice the same too. And if I not mistaken, they ‘reinvest’ all funds regardless of issuer. But then have not touch mm or ISA funds until the past 3 months,
5:37 am
January 9, 2011
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In case anyone is interested, CIBC's Renaissance ISA just raised its rate from 3.8% to 4%. Weeks late and still near the bottom.
I got tired of this same activity pattern and just sold, to buy DYN6000 tomorrow.
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
6:46 am
March 30, 2017
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dougjp said
In case anyone is interested, CIBC's Renaissance ISA just raised its rate from 3.8% to 4%. Weeks late and still near the bottom.I got tired of this same activity pattern and just sold, to buy DYN6000 tomorrow.
What took u so long ?
8:08 am
February 6, 2023
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NBDB only supports reinvest distribution. Will I get the distribution if I bought ISA today and sell it before end of month?
8:56 am
October 27, 2013
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canada888 said
NBDB only supports reinvest distribution. Will I get the distribution if I bought ISA today and sell it before end of month?
ISA interest is calculated daily and paid at the end of the month. If you sell your ISA before the end of the month, you will get accrued interest paid up to date of sale.
9:33 am
October 27, 2020
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Tangerine has a targeted promo of 5% on new deposits until June 30.
9:34 am
February 6, 2023
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CanSaver said
Tangerine has a targeted promo of 5% on new deposits until June 30.
is it lock period? then it is not same as ISA, isa is T+1
11:28 am
October 27, 2020
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canada888 said
is it lock period? then it is not same as ISA, isa is T+1
The funds are not locked in, if that's what you mean. They say transfers out usually arrive at your account within 2-3 business days. In my experience they arrive the next day.
11:54 am
February 6, 2023
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I just tried to buy DYN6001 in nbdb, it works, but can only select reinvested, cannot be cash for redistribution.
12:19 pm
October 27, 2013
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As I have mentioned previously (or elsewhere), re-investment in additional units is no big deal. You can sell any number of units you want at any given time on a T+1 availability basis, i.e. sell today (Wednesday) before 1400EST (or so) and have the cash available Friday morning.
3:34 pm
February 16, 2013
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ATL5000 now at 4% 
3:43 pm
January 9, 2011
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MG said
ATL5000 now at 4%
Post 250 
Savemoresaveoften; Yeah, just lazy, old, misinformed...and a few other things.
On that misinformed point, I was told a long time ago I could only get the "captive" banks' product, so never looked into it for awhile. When I was with TD Waterhouse years ago, I was DEFINITELY told only their own savings product was available.
$ 32k now with DYN6000 which equates to over $ 100.00 extra per year vs. ALT5000. Makes sense!
I DO hope Renaissance realizes quite a few people are not stupid, just slow?, and gets competitive.
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
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