mordko said

It's a fundamentally different engineered product sharing the name for marketing purposes. I don’t think comparing returns is reasonable in this context.  

I do understand that very well.

They are being billed as GIC's with so much more upside potential. I'm just curious how much upside they have actually delivered ...

zgic said

How does one invest in it? Will it be an ETF?

As Norman said in Post #3, Canada's new 'Canada Strong Fund' is so far missing a lot of it's Meat & Bones.

What's curious though is that it's being billed as a 'Sovereign Wealth Fund' (like Norway's very famous & successful sovereign wealth fund, and Alberta's sovereign wealth fund), but it doesn't appear that Ottawa will be following either of those templates.

Another concern is that unlike true sovereign wealth funds, this Canada Strong Fund is going to be initially funded by yet More Government Debt
... to the tune of $25-Billion Dollars !

More Food For Thought ➡️ https://www.cbc.ca/news/canada.....-9.7184255

On the surface, this new Canada Strong Fund initially sounds like a Great Idea, but until we see all Meat & Bones of it, it's probably best to hold-back on any judgments (pro, or con) for now.

My Two Centavos,

Dean

cgouimet said

That's what it looks like to me too.

Is there data comparing historical market based GIC's vs GIC's?  

It's a fundamentally different engineered product sharing the name for marketing purposes. I don’t think comparing returns is reasonable in this context.

mordko said
Reads like an ad for a market linked GIC. Small print to come.  

That's what it looks like to me too.

Is there data comparing historical market based GIC's vs GIC's?

A Simple Way for Canadians to also Directly Participate

… The government intends to offer Canadians the opportunity to participate directly in the Fund through a new, retail investment product.

This means that any Canadian who wishes to can invest some of their savings into the Canada Strong Fund.

The government intends to consult on the specific design of this product, but Canadians can expect the following features:

• Broadly accessible to Canadians from coast to coast to coast;
• Easy and simple to purchase, hold, and transact;
• As the Canada Strong Fund succeeds, investors will be able to share in the upside, while their initial invested capital will be protected.

…

Dean said
.
'Maybe' ➡️ https://www.bnnbloomberg.ca/in.....e-jackson/

Time will tell . . .
Dean  

How does one invest in it? Will it be an ETF?

So he didn't even have any interest in doing 'Great Good', by willing his large wealth to deserving charities ... Sad

Maybe there's a hint in there somewhere, as to Why he lived his life All Alone.

Dean

Of course who is going to look after such loners if and when they are unable to is a whole other issue that they might need to figure out.

NokomisStation said
I have for many many years/decades always short paid my tax liability by $2.00 or slightly less and indeed the CRA makes an adjustment to make this tiny amount disappear.

I have often thought about doing the same, to see what would happen. Glad to see that you were actually successful in implementation. I never want to give CRA a single cent more than necessary. I was always more worried about the potential repercussions, than the minor $2 reduction. For example, I was worried that if I made an error or accidental omission on my return and more tax was assessed than I actually paid, then it might trigger some kind of penalty far greater than the miniscule $2 savings. Your anecdote gives me some reassurance of using the ploy in the future.

RetirEd said

I ran out of family in February, when my last blood relative passed. I wonder who I can turn to for continuity. … Will I have to trust a trust company? I have to redo my will. All the executor candidates and most of the heirs are gone, too. …

If one is going to appoint a trust company to be an executor, one will need to contact the company now to discuss it. One will need to sign an agreement or have something in the will that accepts the trust company's fee schedule. Trust companies usually won't accept the default executor fees prescribed by provincial legislation.

According to the Wills & Estate Planning… For Dummies book, trust companies have a minimum annual fee "of at least several thousand dollars".

The trust company will simply refuse the appointment if the deceased just named the company in the will without providing for the higher fees.

"Let the dead bury their own dead."

The definition in Income Tax Act subsection 146.3(1) says the minimum must be taken each year:

retirement income fund means an arrangement between a carrier and an annuitant under which, in consideration for the transfer to the carrier of property, the carrier undertakes to pay amounts to the annuitant (and, where the annuitant so elects, to the annuitant’s spouse or common-law partner after the annuitant’s death), the total of which is, in each year in which the minimum amount under the arrangement for the year is greater than nil, not less than the minimum amount under the arrangement for that year, but the amount of any such payment does not exceed the value of the property held in connection with the arrangement immediately before the time of the payment. (fonds de revenu de retraite)

December 31 is still part of the year. So, one could withdraw all or the remaining part of the annual RRIF minimum for a year as late as December 31.

That's right. Feed RRIF account holders a made-up 15-day requirement from CRA to cover up their one-person RRIF processing department booking the last two weeks of December off each year!