Important dates for the final months of 2017


It's that time of the year again. 2017 is about to come to an end and we want to help you prepare. Here are the important end-of-year trading dates and deadlines to help you get ready for the closing bell of 2017. 

December 2017

  • December 15: if you want to donate stocks/shares to a charity, December 15 is the last day to contact us for them to qualify for the 2017 tax year.
  • December 19: if you want to open a TFSA or RESP account and make contributions for this tax year, you should start opening your account by December 19 at the latest. We recommend starting earlier, though, just to ensure you have enough time.
  • December 22: if you want to take advantage of tax-loss selling for Canadian and U.S. listed securities, December 22 is the last day you can sell investments to have them qualify for the 2017 tax year. If you have a professionally managed portfolio with us, we look after tax-loss harvesting (another name for tax-loss selling) for you.
  • December 22: if you want to donate cash from your investment account to a charity, December 22 is the last day to contact us for this donation to qualify for the 2017 tax year.
  • December 25: Canadian and the U.S. stock markets are closed. 
  • December 26: Canadian markets are closed. However, since the U.S. markets are open, our client services team will be available by phone, email and chat from 7:30 am to 8 pm to help you. For a list of our holiday closures, visit our contact us page.
  • December 31: the final deadline for contributions to a Registered Education Savings Plan (RESP) or Tax-Free Savings Account (TFSA) to make sure it counts for the 2017 tax year. Keep in mind that banks can take 2 to 4 days to transfer money to us.
  • TFSAs accumulate contribution room over time so you don’t lose the available space if you miss the TFSA contribution deadline for 2017. However, this date can be important if you want to avoid accidentally over-contributing to your TFSA. If you want to check your available TFSA contribution room, contact the Canada Revenue Agency and get an official statement. 
  • RESPs have a lifetime contribution limit of $50,000 and the government matches a portion of your contributions with the Canada Education Savings Grant. You have some flexibility to catch up if you miss the RESP contribution deadline but the sooner you contribute, the sooner your money can start earning investment returns for you.
  • December 31: If you’re thinking ahead about filing your taxes and potential deductions, today is the last day for making charitable donations to claim the deduction in the 2017 tax year.

January 2018

  • January 1: it’s a brand new year. On top of your New Year’s resolution, it’s time to start planning your RRSP contributions and taxes. Planning early means less stress during tax season.

 
This isn’t a complete list of all dates. However, it gives you a handy guide of what to expect as the year comes to a close. If you have questions about international market closures, you should consult their specific exchange.

 

How has investing been for you in 2017? Share your stories, comments, and questions below.