Anna Le
Articles
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What is a self-directed account?
A self-directed account is a “brokerage” type of account allowing you to hold various investments within a single account. Self-directed gives you full control as a “do-it-yourself” investor and al...
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When are contributions tax deductible?
Contributions made to an FHSA are tax deductible for the calendar year in which they are made. You will receive a tax receipt for contributions and there is no First 60 Days provision.
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Can I use USD funds to place trades?
You can use USD funds to buy and sell public stock. All purchases will be converted and processed in CAD funds. Ensure you have sufficient CAD funds in your Olympia account to complete the USD trade.
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Who is the investment company and why should I contact them?
The investment company is the issuer of the investment you purchased. They would answer questions regarding your investment directly with you. Since Olympia is not related to the company you are in...
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Can I transfer funds from my RRSP to an FHSA?
Yes, funds can be transferred from your RRSP to your FHSA. These transfers can be requested using CRA form RC720 Transfer from your RRSP to your FHSA. Transfers from your RRSP into your FHSA are no...
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How can I close my account if I believe my investment is worthless?
To confirm an investment is worthless or valued at zero to close your account, Olympia requires proof of the value/status from a Director or Trustee who can verify information about the investment ...
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What is a qualifying withdrawal?
A qualifying withdrawal is made to purchase a home. The withdrawal can be made in a single lump sum or in a series of withdrawals. No taxes will be deducted. To qualify, you must: Be a first-time ...
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How do I find out which investment(s) I hold?
You can view the investments you hold through the Client Portal. Once you log in, go to Accounts and select your account. You will then see a section titled Holdings; you can select that section to...
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Do I hold a prohibited investment?
For registered plans, a prohibited investment is generally an investment to which you are closely connected. Examples include: Shares of a company, trust, or partnership in which you have a signifi...
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Do I have to repay withdrawn amounts to my FHSA?
No, withdrawn amounts do not have to be repaid to the FHSA.