2019 tfsa?

[anonemouse]

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]

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]

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.

 

[Richard.TO]

Anyone know what's the contribution room would be for 2019 TFSA?

$6,000
https://www.moneysense.ca/save/tfsa-contribution-limit-is-going-up-to-6000-in-2019/