Toronto Escorts

2019 tfsa?

bmwquay

Active member
Feb 24, 2008
285
30
28
Massive losses from day trading too bad. Massive gains gov't needs to step in and stop this. Hope you understand the lunacy of this
 

anonemouse

Well-known member
Aug 23, 2002
907
316
63
Toronto
It's not lunacy.

If you want to day trade, go for it. Lose, gain, whatever. But you don't do it in a tax-sheltered savings plan. Day trading isn't "saving". You're looking for a way to avoid paying tax on your capital gains, not trying to save money which is the purpose of the account.
 

The "Bone" Ranger

tits lover
Aug 5, 2006
4,229
29
48
It seems like you are siding with CRA on this one - you can lose your "savings" in a TFSA even without day trading, just by merely holding a stock that tanks over a span of days/months/years (I am sure you knew that).

By the way, I checked the CRA website and none of the situations where a TFSA might attract tax was around day trading.

It's not lunacy.

If you want to day trade, go for it. Lose, gain, whatever. But you don't do it in a tax-sheltered savings plan. Day trading isn't "saving". You're looking for a way to avoid paying tax on your capital gains, not trying to save money which is the purpose of the account.
 

anonemouse

Well-known member
Aug 23, 2002
907
316
63
Toronto
By the way, I checked the CRA website and none of the situations where a TFSA might attract tax was around day trading.
I would check here instead:

https://www.canlii.org/en/#search/jId=ca&text=tfsa

You can see what actually happens to people that day trade in TFSA's. Usually it doesn't end well (check for cases involving <person> v. The Queen) What side I'm on doesn't matter, I'm just letting you know that if you want to day trade and make a bunch of money there's a chance the tax man will come calling and you're going to lose. Fairly warned be thy, says I.
 
Toronto Escorts