WebApr 13, 2024 · If you trade too frequently inside your Tax-Free Savings Account (TFSA), you could get taxed on the income generated. Nicole Ewing, Director, Tax and Estate Planning, TD Wealth, joins Kim Parlee to discuss a recent ruling from the Tax Court of Canada that highlights the potential risks of day trading inside your TFSA. WebApr 10, 2024 · A TFSA is a registered account that allows Canadians 18 and older to currently contribute $6,500 annually and earn tax-free investment income on a wide range of qualified investments, including ...
Investors who day trade inside TFSAs to face tax bills after ruling
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Web6. Purchase Intent. If you get audited by the CRA for potential day-trading activity within your TFSA, one of the questions you might get asked is why you purchased a certain security. … WebFeb 13, 2024 · It is critical to recognize that the Tax Free Savings Account (TFSA) has a lifetime limit of R500,000.00. The annual contribution maximum to the TFSA is … phlebotomy wrexham maelor