November 2008 Issue
•  The new Tax Free Account
•  Market outlook conference call
•  Why set up a secured line of credit?
•  Tax loss selling
•  Get what you want, here's how
•  TriDelta book review
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Dear reader,

Welcome to our newsletter, which again provides important financial information that you should be aware of in addition to some not so serious articles to enjoy.

We're sure you're as happy as we are to put October 2008 behind us and move on with our lives. This market crash proved to be one of the worst in history and is being compared to the 1929 depression and market crash. Thankfully we have survived and we're pretty sure the worst is over although economies around the world have much rebuilding to do. For those of you that missed our TriDelta exclusive conference call we include a link to the recording.

The other articles outline the long awaited tax free savings account, why you should consider a personal line of credit, the sense of some tax loss selling, getting what you want out of life and some great books to read.

Enjoy and be well,
TriDelta Financial Partners

The new Tax Free Savings Account (TFSA) -
A must for everyone

Every Canadian who is 18 years and older will be able to contribute $5,000 per year to a Tax free savings account - TFSA and shelter this money from taxes ($10,000 for couples) from Jan 2009.

TriDelta can set these accounts up for all clients.

Unlike an RRSP, there is no upfront tax deduction, but the proceeds are not taxed when the money is withdrawn.

continue reading...

Has the market bottomed?
Listen to our conference call.
Even with the TSX down 29%, the S&P 500 down 34% YTD (as of October 31, 2008) and the weak global economy there is much optimism for where the markets are headed from here. The Big Money Poll, which is produced twice yearly by Barron's, showed 50% of investment professionals

say that they're bullish about the stock market's prospects through the middle of next year.

The money managers expect the tide to turn for stocks in coming months, as governments around the world mount a coordinated effort to end the financial crisis and get lending back on track.

We hosted another TriDelta exclusive conference call on the stock market with one of our leading portfolio managers, Bruce Campbell, and discussed supporting evidence for a turnaround in stock market performance. The recording of this call can be accessed by clicking here.

Why set up a secured line of credit?
Take advantage of the TriDelta cash-back special

We believe that financial flexibility is what good financial management is all about. Access to emergency funds is also prudent, which means making application and setting up access to funds before the time of need.

If you own a home, you want to

make sure that the flow of money coming and leaving is to your advantage. By taking out a home equity line of credit, you will have the ability to invest, finance and profit off of what you have in property value. Your equity is the property value of your home minus your loan balances.

The three major advantages of borrowing with a home equity loan are lower interest rates, emergency access to funds and potential tax savings:

continue reading...

Tax loss selling

As the saying goes - when you have lemons, make lemonade. This is the philosophy behind tax loss selling.

If you sell stocks in a non-registered account and realize losses, the Income Tax Act allows you to use them immediately or

carry them back 3 years and forward indefinitely to offset against gains.

In a nutshell, if you paid capital gains taxes over the past 3 years (to 2005), there is an opportunity to use losses from 2008, and carry them back to reduce capital gains from the past 3 years. For example, if you had $40,000 in capital gains over the past three years, you will have paid $10,000 in capital gains tax. Realizing $40,000 in losses by the end of December 2008 would give you a $10,000 tax refund when you file your tax return in April 2009. Not bad!

continue reading...

Five tips for finally getting what you want
By Esther Bartkiw
Now is the time to be thinking about all those elusive things you would like in your life. The things you promised yourself last year and the year before. Isn't it amazing how our commitment and excitement fades despite our wanting something?

If you've moved those newly set goals to the back burner, know that you're not alone. In fact most people abandon their goals and resolutions a couple of weeks into the New Year. But that doesn't mean you have to give up hope or wait for next year to start again. Leave yesterday behind and start fresh today. Every minute we get the chance to start again and make positive change.

Here are five tips for getting back on track and finally getting what you want in 2008.

continue reading...

TriDelta book reviews
  • Through Black Spruce by Joseph Boyden
  • Champlain's Dream by David Hackett Fischer
  • Ghost Train To The Eastern Star by Paul Theroux

read the reviews...