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6 reasons why Canadian investors love Sharesight

by Angela Thompson, Sharesight

Sharesight is the award-winning portfolio tracker that automatically calculates your total annualised performance – including brokerage fees, dividends, and currency fluctuations (something brokers and spreadsheets don’t do). Investors in over 60 countries trust Sharesight to track over 1 million investments, but there are a few features that we built specifically with Canada in mind.

If you’re a Canadian investor, here’s why you’ll love Sharesight:

  1. Track your Canadian stocks and mutual funds
  2. Easily import your historical trades from Canadian brokers
  3. Track your registered and non-registered accounts
  4. Calculate your CGT with the Canadian Capital Gains Tax Report
  5. Keep your portfolio up-to-date by forwarding your trade confirmations
  6. Track your Canadian and foreign currency

featured - Maple Leaves

1 – Track your Canadian stocks and mutual funds

Sharesight lets you track stocks and listed bonds from over 25 global stock exchanges, including the following Canadian markets:

  • CNSX – Canadian Securities Exchange
  • CVE – Toronto TSX Ventures Exchange
  • TSE – Toronto Stock Exchange

Plus Sharesight lets you track over 38,000 Canadian mutual funds, including 10 years of historical price and distribution data. Ongoing prices & distributions are automatically updated and editable at any time.

2 – Easily import your historical trades from Canadian brokers

Getting your portfolio data into Sharesight is easy. Most Canadian brokers – including Questrade and Scotiabank – allow you to download a CSV file of your historical trades from their client portals. You can then easily import the data into Sharesight in just a few clicks. And there’s no need to worry about corporate actions such as dividends and share splits. Sharesight will automatically suggest these for you, so all you need to do is confirm or edit them, and you’re good to go.

laptop - Sharesight - Add holdings : Canada

3 – Track your registered and non-registered accounts

If you have a mix of RRSP, RRIF, TFSA and/or non-registered investment accounts, you should track them separately as they have different tax rules. Sharesight lets you track multiple portfolios under one account, so you can easily track your registered and non-registered tax entities in separate portfolios.

When you set up a Sharesight portfolio with the tax residency set to “Canada”, you have the choice of the following tax settings which conform to Canadian Revenue Agency (CRA) tax reporting rules:

Tax Entity TypeNotes
Non-registeredStandard tax rules apply.
Registered Retirement Savings Plan (RRSP)Non-resident withholding tax does not apply for US stocks.
Registered Retirement Income Fund (RRIF)Non-resident withholding tax does not apply for US stocks.
Tax-Free Savings Account (TFSA)Income from Canadian investments will be treated as non-taxable by default and not appear on the Taxable Income Report. Non-resident withholding tax still applies.

The benefit of tracking your portfolios in Sharesight is that you can see all your investments in one place instead of having to look for them across various banks and brokers. Take it one step further by grouping your portfolios into a Consolidated View, then run a Performance Report to get a holistic view of your investments and how you’re doing overall.

4 – Calculate your CGT with the Canadian Capital Gains Tax Report

Sharesight’s Canadian CGT Report calculates capital gains (and losses) made on investments according to Canada Revenue Agency (CRA) rules using the ‘adjusted cost base’ (ACB) sale allocation method, and is available in our Investor and Expert plans:

hero-cgt-canada

With your capital gains and losses automatically sorted, you’ll save money on accounting fees at tax time. You can download your CGT report to PDF, Excel, or Google Sheets and send it to your accountant (or better yet, securely share your portfolio directly with your accountant so they have everything they need at their fingertips – not just at tax-time but throughout the year).

5 – Keep your portfolio up-to-date by forwarding your trade confirmations

Keeping your portfolio up-to-date with your latest trades is a crucial step to staying ahead of your portfolio admin, as it ensures that your performance figures are accurate and allows you to make timely data-driven investing decisions. If your online broker provides you with a trade confirmation PDF (also known as a contract note), then you can email those PDFs to Sharesight and we’ll “read” them and add the trades to your portfolio. It’s just a matter of forwarding the PDFs to us, or including Sharesight as a recipient on your trade confirmation emails. Sharesight currently supports contract notes from over 100 brokers worldwide, including the following 2 Canadian brokers:

  • CIBC
  • Scotiabank

If your broker is not yet supported, you may manually add your trades for now, and get in touch with our support team so we can add your broker to the list.

6 – Track your Canadian and foreign currency

View your complete financial position by tracking your cash alongside your listed investments. You can track 32 worldwide currencies (including the Canadian dollar) plus 8 cryptocurrencies as an FX currency account within Sharesight. Prices are updated every 5 minutes (20 minute delayed) and you can denominate brokerage fees in the currency being traded.

Simply the best portfolio tracker for Canadian investors

Join the thousands of Canadian investors already using Sharesight to manage their investment portfolios. To get started for FREE, simply sign-up and import your holdings. Then watch as corporate actions such as dividends and stock splits are automatically incorporated. And there’s even a handy mobile app that lets you track your portfolio on the go!

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