RE:RE:RE:RE:RE:RE:RE:Sernova in The Star today …BioTeck wrote: LOL. Why am I not surprised by Merc-a-Derps financial advice? You will get nailed on using TFSA for day or swing trading if you have any meaninful gains and wipe out any contributions if it goes sideways. I have my TFSA loaded with SVA shares when it was trading at 10-15 cents. I don't touch those shares.
Bio: The highs and lows this year were dramatic enough to profit handsomely and buy back in at a much lower SP using (in my case) only eight trades for the entire year (TFSA). Is that your definition of day trading? Old guys like me don't constantly flip for nickels, we wait for a more dramatic and profitable surge/dip scenario...good luck with the RSP strategy and flipping your turdlets. If this thing rockets, you're correct: the CRA will check all TFSA accounts that show major profits and if they see a day trade scenario it will be considered "business income"; then the hammer will come down - but eight trades doesn't qualify. They may not like it, but that's why good tax lawyers exist. You should get friendly with one.