All Questions
63
questions
6
votes
1
answer
2k
views
Can capital gains from employee stock options be transfered to a TFSA to avoid taxes?
In a scenario where, for example:
An employee exercised a "same-day-buy-and-sell" operation on his employee stock options. He ends up making a profit / gain of $10K. He already has a yearly salary of ...
- 205
8
votes
3
answers
27k
views
Is there a penalty if I withdraw from TFSA?
I have a TFSA account to which I have contributed 5000 yearly since past 3 years. Now in emergency, I need to withdraw some money.
What are the penalties (if any) I am looking at?
Thank you
EDIT: My ...
- 16k
1
vote
1
answer
3k
views
What is a "Registered" plan, as in, what does "registered" specifically mean, in the context of an RRSP?
What is the meaning of the "Registered" part in "Registered Retirement Savings Plan"? What is an example of an unregistered savings plan?
- 16k
3
votes
2
answers
330
views
What happens if TFSA contribution limits are exceeded?
When CRA says the annual limit for a TFSA is $5000, what does it mean? What happens if I put in $6000. The gains will be taxed? How exactly? Divide the gains by 1/6, then tax the 1/6 part???
- 16k
1
vote
2
answers
1k
views
Does the interest rate on a savings account always fluctuate? What about for a TFSA?
When we say 'Savings Account', does it automatically mean that the interest rate can go up and down? So by that definition, the interest rate on TFSA can go up and down any time?
- 16k
1
vote
1
answer
403
views
Compounding difference between these TFSA Savings Account & TFSA GIC interest rates?
From the brochure of my bank, here is an excerpt:
Interest on the TFSA Savings Account is calculated daily and paid monthly.
Interest on TFSA GICs is compounded annually and paid at the end of ...
- 16k
2
votes
2
answers
897
views
What is the real tax benefit of Tax Free Savings Accounts (TFSA) vs normal (unregistered) savings or investment accounts?
From an investor's point of view, are investment options that are allowed to grow 'tax free' a beneficial choice? The investor is anyway going to pay tax once he withdraws the money*.
What I am ...
- 16k
3
votes
2
answers
407
views
How can I determine which is right for me, RRSP or TFSA, if any at all?
I'm 22 years old, and currently dumping all my money into my general savings account. I'd like to take this further but I'm not sure where to go with this. What type of savings account should I get ...
user2987
2
votes
1
answer
676
views
Questrade: Tax Free Trading Account. Why don't other brokers in Canada have these?
I noticed Questrade has a Tax Free Trading Account.
Is this too good to be true? Why do other brokers not have a "Tax Free Trading Account" where your gains are not taxed and where you can contribute ...
- 131
0
votes
3
answers
2k
views
Where is a good place to open a Tax Free Savings Account (TFSA)?
I'm looking to open a Tax Free Savings Account. Where is a good place to open one? Which kind of Tax Free Savings Account would you recommend?
Elaine T
4
votes
1
answer
2k
views
I have not yet invested into a TFSA - how much can I invest in 2011?
I have not yet created a TFSA, nor invested anything in it. I am looking to put some money in in 2011, what will my cap be?
- 1,659
2
votes
3
answers
8k
views
Is a Canadian TFSA similar to an American Roth IRA?
Canada never used to have a "pay tax now, but don't pay tax later" investment option, until 2009 when the TFSA (Tax-Free Savings Account) was created. Is this fundamentally the same as a US Roth IRA? ...
- 709
1
vote
2
answers
292
views
TFSA Withdrawals
If my TFSA is worth $25000 and I only put in for 2 years ($10000), can I withdraw the $25000 and put it back in later, or am I only allowed to put the original $10000 back in (assuming this withdrawal ...
Tim
1
vote
1
answer
429
views
How does the 1% penalty on TFSA transfers work?
The maximum annual contribution limit to a TFSA is $5000 per year. This makes it a good emergency fund vehicle. If I:
transfer money out before the new $5000 contribution credit starts for a new ...
- 6,230
6
votes
2
answers
459
views
What is a good place to park a Christmas bonus? Pay down the mortgage, TFSA or RRSP?
Many companies in Canada tend to pay out bonuses around Christmas time. If one is fortunate enough to get one this year what is the best strategy for the bonus? TFSA's have a limit of $5000 yearly. ...
- 6,230