06-23-2021, 01:24 AM
Canadian government not issuing tax certificates during covid.
<!-- SC_OFF --><div class="md"><p>Hey guys, </p> <p>Long time listener first time caller. I was the beneficiery of an estate a few months before covid began. It has been 18 months and my financial advisor ( and executor) has told me that it wasn't possible to invest due to the government increasing their backlog of taxes to process due to covid. </p> <p>He has admitted that he feels bad about not being able to increase my portfolio 30% percent with last years market but says he was unable too as the government can come back and ask for however much tax they want unless a tax certificate is issued.</p> <p>I have been sitting 100% in cash and its putting a pit in my stomach. Can anyone who works in the industry help me determine if he's being truthful. I have no reason to distrust him except that I've earned zero dollars in the biggest market year in my lifetime. I'm not that well educated in finance, and don't want to jump to conclusions. I seems that if I jump in now I stand to hit a big big correction that would put me down quite a bit. Or the market continues for however long and I'm a fool to wait it out. Has anyone else been unable to obtain a tax certificate?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Extreme-Locksmith746"> /u/Extreme-Locksmith746 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/o617id/canadian_government_not_issuing_tax_certificates/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/o617id/canadian_government_not_issuing_tax_certificates/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Hey guys, </p> <p>Long time listener first time caller. I was the beneficiery of an estate a few months before covid began. It has been 18 months and my financial advisor ( and executor) has told me that it wasn't possible to invest due to the government increasing their backlog of taxes to process due to covid. </p> <p>He has admitted that he feels bad about not being able to increase my portfolio 30% percent with last years market but says he was unable too as the government can come back and ask for however much tax they want unless a tax certificate is issued.</p> <p>I have been sitting 100% in cash and its putting a pit in my stomach. Can anyone who works in the industry help me determine if he's being truthful. I have no reason to distrust him except that I've earned zero dollars in the biggest market year in my lifetime. I'm not that well educated in finance, and don't want to jump to conclusions. I seems that if I jump in now I stand to hit a big big correction that would put me down quite a bit. Or the market continues for however long and I'm a fool to wait it out. Has anyone else been unable to obtain a tax certificate?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Extreme-Locksmith746"> /u/Extreme-Locksmith746 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/o617id/canadian_government_not_issuing_tax_certificates/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/o617id/canadian_government_not_issuing_tax_certificates/">[comments]</a></span>Kind Regards R