Canadian Investors...TFSA?

[Bruins4Life]

I'm considering opening a TFSA. I have been a passive investor for years.

Any advice for someone new to the TFSA scene?

 

[Bruins4Life]

For my non Canadian brothers, A TFSA is a Tax Free Savings Account. You can use this money to invest in stocks, mutual funds, etc and you are not taxed on any earnings. Currently you are allowed to deposit $57,500 max into this but only $5500 a year thereafter.

 

[Ricboff]

OPEN an account

understand, any gains are TAX FREE.

in a non-registered account OR a RRSP (delayed taxation), the full FORCE of the Canadian govt will want its share. For capital gains, 50% of realized capital gains will be taxable at your current tax rate.

a no-brainer. You can thank the Harper government. He was sent packing.....now?......we have a DISASTER running the show ...he decreased max contribution to a TSFA immediately...........

any withdrawals from a TSFA are NOT seen as income.

do not put GIC's /bonds in a TSFA. Rubbish.