RE:RE:RE:RE:Keeping the TF in TFSA.... Here's howMakeItRain1 wrote: It's difficult to say. There are so many grey areas and the internet is lettered with different stories of how people got taxed. It's hard to know what's true and what's not. Some common concenouses is are not to take out profits to often to appear as take a salary/pay check, minimize account activity. If you buy your shares and hold them for 5 years without a lot of activity you probably would be ok if audited. I don't think it's fair to think that you have to buy stocks and hold regardless of what the stock is doing. If it is not performing or has gotten adverse news there has to be leeway to re-evaluate your decisions. I wish the rules were more clear cut but they are grey for a reason it appears.
Awesome1 wrote: Let's say I wait 5 years and PYR explodes and I have millions. Do I get taxed when I sell?
Yes lot of chatter on this but after calling few times to CRA...as long as you invest and hold you will be totally fine. IF you trade often in your TFSA that is where CRA can deem it to be running it as a business and then you will or could be taxed at your marginal rate even forgoing capital gains exemption. The smart longs here know what they have - buy and hold :)
With all these amazing divisions...I would be too scared to sell and lose my seat on trying to time.