Red Light Holland Corp. C.TRIP

Watch for the afternoon rally

[trip2themoon]

Today is the last tax selling day. Cmps dropped 10% and is coming back. People will be picking there 2021 longs and this will continue into early Jan with fresh TFSA limits

[SamRothstein]

Good point on it being last tax selling day, and yeah I can't wait for fresh TFSA room.  Tragic how few people max out their TFSA's every year.   I max it out by Jan.2 latest!    You can say what you want about Harper, but for one glorious year we had the $10k contribution.   Then of course Trudeau came in and immediately axed it, and raised taxes. 

[InvestABCs]

Anyone seen bcdonnydummy? Same team and same level of inaccurate calls. Hey you promised a red tank.... wtf... cmon man we count on you

[SamRothstein]

Well bcproud is busy being very proud of himself for no discernable reason.  And Donny is busy with methodone injections while keeping an eagle eye out for a woman with very low self esteem that he can victimize.  

[InvestABCs]

Hahaha BcDonko.... Proud they called for red slaughter smash and we sit 2+ cents green allday Haha good one...

[88guy88]

The TFSA for sure is a great way to invest....just wish they had it when I was 25.....be carefull though with your investment style in TFSA......if you buy one or two stocks a year and let them run then you are ok....but if you are a day trader or very active trader and hit a couple of big wins.....the CRA will be taxing you on your TFSA because it was not used for investment purpose but for

[SamRothstein]

100% correct.  If you are very active trader in TFSA but don't do great they will leave you alone. But if you hit some real home runs and are also an active trader then they can say your are running a business and take the tax shelter away from you. Which I think is bs but always hard to fight the tax man.    

[charlottesweb]

I’ve heard that but as far as I know it’s when you are moving money In and out from the tfsa and spending. Leaving it in is all good...I hope  multiple day trades on one stock can red flag you as well guess I should of bought at .25  this halt on numi will be interesting 

[88guy88]

I am pretty sure that CRA flags very high amounts in TFSA and does an audit for investor or trader.....lets say you have $25000 in TFSA and actively trade and it grows to $600000.....you need to take the money out eventually....so you take out $300000 and that gets recognized as a transaction by CRA....and they go hhhmmmmm...that seems quite high...lets just check that out....now if you bought a

[SamRothstein]

That is my understanding.  They are looking for large amounts in TFSA.  I doubt they look at anything under $200K but no one knows what the amount is that trips their algos. But if are over their magic number, my guess is that they then cross check that with the amount of trades in your margin, and if they see very active trading, then they investigate further.

[charlottesweb]

Oh don’t get me wrong lol they will try anything to get some mitts on your money.  I dont personally trade a ton but Who knows. I know I don’t gave 600k !

[whateveryousay]

I am sure there are no restrictions on the gains in the TFSA it will never be taxed.That is why it is a very good place to bet big on high flying stocks.

[88guy88]

You are misinformed.....of course CRA will tax you on your TFSA if you abuse it and generate income as a business and not an investment......it was even covered on BNN with a tax consultant

[Bridgelakegal22]

You can buy and sell all you want in a direct investing tfsa 

[SamRothstein]

Correct.  You can buy and sell all you want. And you can make all the gains that you are able to.  The only thing that some people don't realize is that if you are lucky enough to have really big gains in your TFSA, then they can investigate to see if you are an active trader, which they consider different than being an investor.  If they deem you to be a trader, based on

[davwal]

I dont believe that is true.Just my opinion,but I seriously would not doubt for one moment that is coming with our government.I hope this post lasts for 24 hrs.

[SamRothstein]

Davwal, you are certainly welcome to have your own opinion.  This is not a matter of belief though.  It is not an issue like religion or the afterlife, where everyone has an opinion or belief and there is no correct answer. The answer to the question iof TFSA taxation policiy is not in dispute.  It is a matter of public record, and the correct answer is already well known by