Comments on: FAQs on Tax-Free Savings Accounts http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Savings Accounts uk http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-350358 Savings Accounts uk Wed, 22 Dec 2010 10:33:50 +0000 http://www.canadiancapitalist.com/?p=1541#comment-350358 I agree and support. This is really good, it serves me. --------- Acruz I agree and support. This is really good, it serves me.
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Acruz

]]> By: TFSA Excess Contribution Penalties Ensnare Taxpayers | MoneySense http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-226341 TFSA Excess Contribution Penalties Ensnare Taxpayers | MoneySense Mon, 14 Jun 2010 11:43:16 +0000 http://www.canadiancapitalist.com/?p=1541#comment-226341 [...] TFSA rules were clear even before financial institutions started offering these accounts (See post FAQ on Tax-Free Savings Accounts dated December 1, 2008). It is hard to make the case that CRA rules were somehow unclear as some [...] [...] TFSA rules were clear even before financial institutions started offering these accounts (See post FAQ on Tax-Free Savings Accounts dated December 1, 2008). It is hard to make the case that CRA rules were somehow unclear as some [...]

]]> By: TFSA Excess Contribution Penalties Ensnare Taxpayers | Canadian Capitalist http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-226189 TFSA Excess Contribution Penalties Ensnare Taxpayers | Canadian Capitalist Mon, 14 Jun 2010 02:28:13 +0000 http://www.canadiancapitalist.com/?p=1541#comment-226189 [...] TFSA rules were clear even before financial institutions started offering these accounts (See post FAQ on Tax-Free Savings Accounts dated December 1, 2008). It is hard to make the case that CRA rules were somehow unclear as some [...] [...] TFSA rules were clear even before financial institutions started offering these accounts (See post FAQ on Tax-Free Savings Accounts dated December 1, 2008). It is hard to make the case that CRA rules were somehow unclear as some [...]

]]> By: tsxcommentary http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-211121 tsxcommentary Tue, 16 Feb 2010 21:40:17 +0000 http://www.canadiancapitalist.com/?p=1541#comment-211121 in-kind contributions are a great way to take advantage of your TSFA. if you are own a thinly traded stock especially an option like a 2 year LEAP, the bid ask spreads can be large. so even though the bid price is at a significant discount. it counts as the market price of the in-kind contributions which will let you squeeze more money into your TSFA. you will no realize a captial loss, in your non registered account, but you could end up squeezing in an extra 1000$ a year in your TSFA. the disadvantage is that you have to own illiquid stock / options. so you have fewer choices. in-kind contributions are a great way to take advantage of your TSFA.

if you are own a thinly traded stock especially an option like a 2 year LEAP, the bid ask spreads can be large.

so even though the bid price is at a significant discount. it counts as the market price of the in-kind contributions which will let you squeeze more money into your TSFA.

you will no realize a captial loss, in your non registered account, but you could end up squeezing in an extra 1000$ a year in your TSFA.

the disadvantage is that you have to own illiquid stock / options. so you have fewer choices.

]]> By: Big Spender http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-209101 Big Spender Thu, 21 Jan 2010 23:46:24 +0000 http://www.canadiancapitalist.com/?p=1541#comment-209101 You can deal in the stock market, be careful and do research on companies or funds you wish to buy. Here we are into a new year. I own a TFSA through Questrade. I have another TFSA for my wife through a broker (financial planner). My Questrade account produced a 40% return as of the middle of Jan. 2010. I made my own picks. For my wife's account I also made the pick. I purchased a REIT, (real estate income fund). I sold this recently for a gain of almost exactly 115% or $10,600.00+. To amplify gains I used their dividend reinvestment plan and left all of the monthly distributions in the account until I sold it. Purchasing any stock last year in the first quarter was pretty easy, most of them were at the bottom. This year might not be so easy. My plan is to split it down the middle and try to pick two winners for this year. Remember, do research, the market drops without warning and great gains can become painful losses. Good Luck. You can deal in the stock market, be careful and do research on companies or funds you wish to buy.
Here we are into a new year. I own a TFSA through Questrade. I have another TFSA for my wife through a broker (financial planner).
My Questrade account produced a 40% return as of the middle of Jan. 2010. I made my own picks. For my wife’s account I also made the pick. I purchased a REIT, (real estate income fund). I sold this recently for a gain of almost exactly 115% or $10,600.00+. To amplify gains I used their dividend reinvestment plan and left all of the monthly distributions in the account until I sold it.
Purchasing any stock last year in the first quarter was pretty easy, most of them were at the bottom. This year might not be so easy. My plan is to split it down the middle and try to pick two winners for this year.
Remember, do research, the market drops without warning and great gains can become painful losses.
Good Luck.

]]> By: Joe http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-196675 Joe Thu, 30 Jul 2009 02:02:44 +0000 http://www.canadiancapitalist.com/?p=1541#comment-196675 What happens if I put $5100 (extra $100) by mistake in 2009? Does this mean that my contribution room next year is $4900? Or would it still be $5000 and the extra $100 put in this year is just gonna be taxed? What happens if I put $5100 (extra $100) by mistake in 2009? Does this mean that my contribution room next year is $4900? Or would it still be $5000 and the extra $100 put in this year is just gonna be taxed?

]]> By: Ron http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-195775 Ron Wed, 15 Jul 2009 13:22:49 +0000 http://www.canadiancapitalist.com/?p=1541#comment-195775 I am using Questrade for my TFSA. There is no annual fee. The typical trade fee is $4.95 So far they have been great to deal with. I am using Questrade for my TFSA. There is no annual fee. The typical trade fee is $4.95
So far they have been great to deal with.

]]> By: Tax Free Savings Account (TFSA) FAQ | Financial Highway http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-192211 Tax Free Savings Account (TFSA) FAQ | Financial Highway Mon, 25 May 2009 09:33:57 +0000 http://www.canadiancapitalist.com/?p=1541#comment-192211 [...] Canadian Capitalist TFSA FAQ [...] [...] Canadian Capitalist TFSA FAQ [...]

]]> By: McGeezer http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-190525 McGeezer Sat, 02 May 2009 23:52:22 +0000 http://www.canadiancapitalist.com/?p=1541#comment-190525 Charles, how many trades would you make in a month do you figure? Charles,
how many trades would you make in a month do you figure?

]]> By: Charles http://www.canadiancapitalist.com/faqs-on-tax-free-savings-accounts/#comment-190488 Charles Sat, 02 May 2009 13:19:55 +0000 http://www.canadiancapitalist.com/?p=1541#comment-190488 "McGeezer // Apr 7, 2009 at 8:46 am If i have a TFSA on Questrade, can i buy and sell ANY stocks i want? I thought for some reason i could only purchase shares of securities or index funds……is this true, or can i do whatever i want?" I have TFSA on Questrade. I trade stocks on it with no problem. The only problem is that the account is not allowed to be on margin. I haven't tried options though. “McGeezer // Apr 7, 2009 at 8:46 am

If i have a TFSA on Questrade, can i buy and sell ANY stocks i want? I thought for some reason i could only purchase shares of securities or index funds……is this true, or can i do whatever i want?”

I have TFSA on Questrade. I trade stocks on it with no problem. The only problem is that the account is not allowed to be on margin. I haven’t tried options though.

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