Pyrogenesis Canada Inc T.PYR

TFSA + PYR

[vers1demainvert]

If you want to maximize your wealth without paying capital gains a tfsa is the way to go. Be warned this is not for day traders for they will have to deal with the taxman. Only for longs.

[CndnBacon]

Buying and selling is part of an Investors strategy, and is acceptable within a TFSA, however Buying and Selling mutliple times,over a course of a week, especially the same stock, and makimg frequent withdrawls of Capital will DEFINITELY find yourself on the Capital Gains list from the CRA....in fact, somebody had mentioned anybody with a TFSA Balance of $250k+ is already on a watch list as it is

[Takeactionnow]

That is right. The factors that the CRA looks at include: the frequency of the transaction; the duration of the holdings; the intention to acquire the securities for resale at a profit; the nature and quantity of the securities; and the time spent on the activity. The more time spent on the activity (i.e. trading stocks), the faster the sale after purchase, and the extent of profit generated are

[96KLITE]

I'll have to disagree with you there Canadian bacon. Contribution only refers to the maximum that you can contribute to your tfsa so if you've never contributed to a tfsa in your life the maximum that you could contribute would be $69,500 to date. Now if your investment grows to 250k you are NOT going to be on CRA's watchlist. =CndnBacon]Buying and selling is part of an Investors

[CndnBacon]

Your Brokerage is required to send the CRA your TFSA statements, and as such, if your account has grown to a value far exceeding the maximum contribution limit, you can be rest assured they are reviewing it to determine the nature of the increase for taxation purposes[/quote]

[96KLITE]

Yes, if you OVER CONTRIBUTE. If you have not put in more than the allowable $69,500 todate. Once inside your TFSA if it grows to $500,000, you are NOT Taxed. [/quote]

[MakeItRain1]

The terms running like a "buisness" and "day trader" is the key focus for them. If you are regularly taking a profit like a paycheque you risk being deemed running a business. No need to explain the day trading. If you over contribute you will be warned and charged interest. If you are running a buisness or day trading inside a tfsa you run the risk of being penalized 100% fair

[Aarman4]

Heres what I don't understand.... If you are doing well in your TFSA, is it no tthe intent to take a paycheque from it eventually? Otherwise, what is the point? Does it not become an RRSP is they start taxing you on taking profit? I totally undertsand the stance against high frequency day trading(I do disagree with it though), but what is the point of the TFSA if removing money from it when

[CndnBacon]

Are you day trading, making cake, and withdrawing funds every 2 weeks or monthly from those gains? If you are, then you are using it as income....I have made a number of withdrawls from my TFSA over the years without issue, and its clear to see if audited, its clearly not "income"

[Gottofly]

 I personally have just filled my TFSA each January with PYR and have continued to just hold, but a friend ran into trouble with the frequency and type of transactions. Best to talk to a tax accountant if one is not 100% sure of the rules

[CndnBacon]

Not bad advice, but I dont see any issues with getting your financial advice from strangers on an internet forum....c'mon, its 2020! LOL....

[Aarman4]

I would kindly disagree with you on this. What is the difference between withdrawing $500 monthly, $6,000 yearly, or $500,000+ all at once when you are ready to retire?  I don't understand at all the idea that we have this account available to us for anything but to help us increase our retirement savings or have money there when we need it. Maybe it's my thick head getting in the

[jchoo04023]

You do not get taxed on the amount you withdraw from a TFSA; in addition, any amount you withdraw can be added back to your TFSA the following year since it is added to your contribution limit. Thank you.

[CndnBacon]

96KITE, you are not following along, you can grow it to $1B and NOT get TAXED, provided you didn't Day Trade your way there....it is NOT a Trading Account, it's an Investment Account....feel free to day trade in it, and you'll find out what happens after CRA calls you about your TFSA activity [/quote]

[CndnBacon]

My appologies 96KLITE, I posted before reading through newer posts[/quote]

[Gottofly]

I seem to remember that, within a TFSA, you cannot rebuy a particular share within a 30 day period.  So if you have stop losses set, they are triggered, your PYR sells off you cannot rebuy PYR for 30 days within the TFSA and remain within TFSA compliance rules.

[jchoo04023]

This is false, there is no rule within a TFSA that you cannot rebuy a particular stock within a 30 day period, this is in regards to superficial losses. The rule is that if you sell a stock at a loss, it is considered capital loss and can offset some of your capital gains; however, this can not be done if the same stock is rebought within 30 days because then it would be considered a superficial

[Gottofly]

Thank you for clarifying

[Skyzlimit496]

Here is a sensible expanation of trading in your TFSA. You probably don't have anything to worry about unless you have a million bucks in there and/or are employed in the finance sector. https://www.moneysense.ca/save/investing/tfsa/taxman-after-your-tfsa-unlikely/

[Trader001]

Ok thanks guys THE END  on TFSA. Came here to enjoy some good DD on Pyrogenesis only to find 70% 2 pages back and forth about tfsa.  That's exactly what bad element want...good DD pushed way down.   Let's keep focused guys as this is really getting exciting with possibility of these massive clients!!! 

[Trader001]

Just noticed few of the soft basher crew coming in about tfsa.  You know that's bad when this forum is distracted and detracted. 

[Takeactionnow]

I have to disagree. Any investor who is day trading in their TFSA is going to have severely impacted net after tax and penalties returns if they are reassessed. That makes this issue every bit as important as the issuer discussion.

[96KLITE]

All good Cdnbacon. Yes if daytrading, will cause problems. But I personally don't day trade, just invest and hold.  Good discussion to have so people understand the risks of going "out of bounds" with the TFSA. Is it monday yet?...lol [/quote]

[Macer]

[/quote] As long as you are not trading with a relatively high frequency you should be fine when investigated. If you picked a couple lucky investments that are 10 baggers like PYR you will also be fine macer