Author Topic: Aussie grad living in Canada.. how & where to invest?  (Read 2192 times)

aussie_maple

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Aussie grad living in Canada.. how & where to invest?
« on: August 03, 2014, 04:03:29 AM »
Hi All,

I've recently been moved to Canada for work by my company and will be living here for a couple of years. I've managed to save up about $15000 CAD and was wondering where and how to invest. I'm no longer an Australian resident for tax purposes and don't have any investments back home. I want to get started on my journey of badassity but don't know where to invest.

Help!

The Falcon

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #1 on: August 03, 2014, 04:14:43 AM »
Do you plan to return to Oz to live after a couple of years?

aussie_maple

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #2 on: August 04, 2014, 04:44:28 PM »
Yes, I do.  Currently all my money sits in a salary account that gets no interest.

aussie_maple

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #3 on: August 04, 2014, 11:06:28 PM »
somebody.. help

MsRichLife

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #4 on: August 04, 2014, 11:50:23 PM »
Sorry, I can't help with where to invest in Canada to make a reasonable return. But if it were me and I was returning to Australia in a couple of years, I'd try to keep it pretty liquid.

Is there any way you can send some of it 'home' to at least earn 3.6% in a term deposit or something?

The Falcon

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #5 on: August 05, 2014, 01:59:56 AM »
Ok, my thoughts ...no warranty, this is not advice etc.

Firstly, as OZ is where you intend to be, and you want to start investing now it makes sense to do it in Oz in AUD. Presumably you still have Oz bank accounts, TFN and mailing address, and someone to redirect your mail ?

As you will be earning less than 18k (investment return) ATO doesn't need you to do an annual return. So, get an account set up with Vanguard OZ, transfer $$ back to your Oz savings / transactional account and pay it out of that (Vanguard investments can be made by Bpay). As you save more, send it home and put it in to Vanguard fund of your choice.

Good luck!

aussie_maple

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #6 on: August 05, 2014, 06:29:12 PM »
Thank you all.

Does it make sense to put maybe $5000 in a Vanguard S&P 500 Index Canadian ETF .

daverobev

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Re: Aussie grad living in Canada.. how & where to invest?
« Reply #7 on: August 05, 2014, 08:05:32 PM »
Are you resident? Qualify for a TFSA? If so, open one (Questrade, IMHO), and invest it. Thus, no cap gains tax when you withdraw the lot when you go home.


When you get home, buy the same things (but on the Aus stock exchange). So if things have gone up or down it doesn't matter.

Have a look on Canadian Couch Potato forgood ETFs. I'd say don't take any Canadian exposure, take what you'd take at home (might be trickier but you can 'Norbert's Gambit to USD, and pretty much every market is available as an iShares US ETF).

Remember you get TFSA room for any year you were resident.