RE:RE:RE:Can someone explainSandblaster1980 wrote: Aarman4 wrote: I'm very sure that nothing negative will come from it IF and WHEN it happens.
You are subject to a 15% tax on USA listed company dividends if I remember correctly, however, capital gains from share price appreciation is totally fine on all North American exchanges within your TFSA I believe.
Cheers!
Gmo1972 wrote: I bought sona thru my tfsa. With this Nasdaq listing, what happens now. Sorry, very new to this happening.
I ask my bank and my tax accountant the same question when I started and they gave me the same answer. You will not get taxed on your tfsa investments as long as it's not a investment in a US company that pays a dividend. I also heard that the CRA might tax you if your a daytrader but I'm not a 100% sure about this. I also read that if you invest in companies that are not publicly list on the north American exchanges you might also be taxed. I'm not a expert by any means but just letting you know what I have read and heard. GLTA
Just clarifying some of the points I made in my post. If your a daytrader and you use this tactic for income and you have made X amount of trades per quarter (I believe the number to be 30 plus trades) you might get taxed on that profit. Also if you invest in companies that are not listed on any publicly traded exchanges and you make a ridiculous amount of profit (say you invest 30k and made a million off that trade) the CRA might investigate and tax your earnings. I have read that they look at any TFSA that as made over a million dollars in a short period of time and can tax your gains if they want and you might lose the tax free portion of your account. Technically a TFSA is a tax free SAVINGS account not a tax free INVESTMENT account. The CRA rules are very gray and not black and white so they have the power in the end to seem if you have breached, violated or misused your TFSA account. Not trying to scare anyone but these are something's that I have researched when I started investing. Hope that helps but don't take my word only talk to your bank or the CRA. Glta