I just noticed something....................

[Ceiling Cat]

Phil C..

Why is your bank sending you a check when you sell a stock? My money stays in my account and the troops are ready to deploy at a moments notice. If you are buying and selling stock in a TFSA the gov. will disallow tax free status on your earnings. You can only hold stocks in a TFSA if it is earning on a buy and hold situation.




I started with around $50K and I'm now around $80K. All going straight into my TFSA.
Gonna leave the oil stocks till next year and hopefully they'll be up 30% or so

[/QUOTE]

 

[Rukos_48]

Buy and hold for how long? Didn’t know this

 

[tastingyou]

Buy and hold for how long? Didn’t know this

I do not think that this is true - you can definitely buy and sell stocks. . I do not think that they want you to be overly frequently trading the account on a regular basis or day trading the account - then they would consider it business activity. { Google is your friend ]

 

[Ceiling Cat]

........................... then they would consider it business activity. { Google is your friend ]

There is no exact definition as have many times you can trade in a TFSA. People that have the ability to make a few good trades can rack up a bundle tax free, so the CRA discourages frequent trading in TSFAs. You are pretty much restricted to buy and hold in a TFSA.

 

[jeff2]

There is no exact definition as have many times you can trade in a TFSA. People that have the ability to make a few good trades can rack up a bundle tax free, so the CRA discourages frequent trading in TSFAs. You are pretty much restricted to buy and hold in a TFSA.

I have got too much ZST in my TFSA. O.K. for now, but longer term I have to put it into something.

 

[Charlie_]

There are plenty of people who trade in their TFSA without the CRA considering them to be frequent traders. You absolutely do not have to buy and hold.

 

[John_Jacob]

There are plenty of people who trade in their TFSA without the CRA considering them to be frequent traders. You absolutely do not have to buy and hold.

I think you REALLY have to (a) churn the stocks, (b) make a lot of $ doing it. If you churn a lot and screw up, I don't think the CRA cares. Make a lot of money doing the churning and the CRA is ready to define 'frequent trading' as they wish.