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"Eurocontrol Technics Group Inc is a Canada-based company involved in acquisition, development, and commercialization of security, authentication, verification and certification markets. The company through its subsidiaries is engaged in designing, manufacturing, marketing of energy-dispersive X-ray fluorescence (ED-XRF) systems, and developing technology and property that combines two... see more

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Eurocontrol Technics Ord > I have a question

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Post by michael211 on May 30, 2015 4:10pm

I have a question

if you guys make huge money in your TFSA by euo, i mean if currently your TFSA has $30000 and you bought euo at 5cents for 600K shares, when euo somehow goes to 50cents, then your TFSA balance will go to $300K, will the CRA ask you to pay tax?

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Comment by lscfa on May 30, 2015 4:14pm

No. The CRA is after frequent traders.

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Comment by michael211 on May 30, 2015 4:27pm

do you know how often is called "frequent trading"?

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Comment by xsnrg on May 30, 2015 7:49pm

Hi Michael, Not only will the CRA not ask for the money back but if you withdraw your 300K your contribution limit will remain at 300K so you can return the funds to it at any point in your lifetime. My TFSA is over 100K and I once took it all out (for a house purchase) and now its back up to over 100K since my contribution limit was increased along with the value of my TFSA. Sounds ...more

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Comment by fortfry on May 31, 2015 10:19am

Its a tax free account. You dont hav to report any gains and when you take money out its yours. You may only get one free withdrawal per year. Ask your broker. And you dont need to put it all in at once. For example if you wanted to buy 5000 shares of EUO for 11 cents you could put in $560 in a TFSA and place a buy order If you dont have a TFSA just go to your local bank branch and set one ...more

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