Not only that, but the OP is getting incomplete/inaccurate info to boot.Why do people ask these types of questions on an escort review site? Is the CRA website not accessible to them? Is Google not available? Why?
We're TERB brothers... We want to hear from people we trust.Why do people ask these types of questions on an escort review site? Is the CRA website not accessible to them? Is Google not available? Why?
Totally agree with your statement!
If you're putting TFSA money into a bank offered account or GIC, you're doing it wrong.....
If you're putting TFSA money into a bank offered account or GIC, you're doing it wrong.....
Totally agree with your statement!
Hello TBR!Although it is not the most efficient use of the TFSA, I don't agree with you guys that it applies to all people, if someone is totally risk averse and has cash sitting in a non-registered account, then he/she might as well put in a TFSA so they don't have to give half of the interest income to CRA.
Hello TBR!
I love your video signature so much lol!
But seriously on the subject, you're correct and appreciate your widening the horizon of discussion. I was basing my comment mainly on my own situation in stock investment.
eace::thumb:
For stocks the TFSA is great, I use it myself, especially if I want to day-trade, no accounting headaches for tax tracking purposes, just keep trading in and out (my mantra...lol) with no worries!
fyi I was reading somewhere that the CRA may be cracking down on day traders who use their tfsa as a way to dodge taxes. specifically those who have massively outperformed what would be considered "normal". while it doesnt not say that you cannot conduct that kind of business in the legislation CRA feels that it is not an appropriate way to use the tfsa, hence they want their cut.:thumb:
For stocks the TFSA is great, I use it myself, especially if I want to day-trade, no accounting headaches for tax tracking purposes, just keep trading in and out (my mantra...lol) with no worries!
fyi I was reading somewhere that the CRA may be cracking down on day traders who use their tfsa as a way to dodge taxes. specifically those who have massively outperformed what would be considered "normal". while it doesnt not say that you cannot conduct that kind of business in the legislation CRA feels that it is not an appropriate way to use the tfsa, hence they want their cut.
should be interesting to see what the CRA does with people who have done extremely well with trading in their tfsa.
It is consistent with the "Savings" nature of the account. It isn't intended to be a way for people to avoid taxes, it's a way to save money. If you're day trading, it isn't saving it's gambling.Kinda contradicts the name "tax free?"
Since capital losses in the TFSA can't be written off it would be one-sided if they taxed the capital gains from day trading.It is consistent with the "Savings" nature of the account. It isn't intended to be a way for people to avoid taxes, it's a way to save money. If you're day trading, it isn't saving it's gambling.
Yes, but they still do it. Value of your portfolio and frequency of trading are what they look for, as I understand it.Since capital losses in the TFSA can't be written off it would be one-sided if they taxed the capital gains from day trading.
Hey, they are the boss and our first partner!Yes, but they still do it. Value of your portfolio and frequency of trading are what they look for, as I understand it.