"trading day by day...building those fortunes and then a knock comes at the door.." Who can it be"....Hi there we're with C.R.A. and we need to see your income tax returns for the last X amount of years for verification......VERIFCATION....OF WHAT!!!!!!!...."didn't you get the notice...you are no longer classified as a investor and hence all trading done by you is being treated as commerical gains and we are going back X amount of years for those commerical taxes....and by the way...you'll no longer be able to enjoy the low tax rate of current capital gains...SORRY...and that includes the TFSA...SORRY...

Yes folks and those that like to flip stocks day by day and twice on Sundays....you might get that nasty notice and visit......think it's a farse....call the CRA they'll tell you.....I was surprised to hear how little it takes to get put on the radar...so keep flipping...the day will come...and when they go back a few years..OUCH...Just remember all those TFSA trades that you don't worry about are actually all sent electronically to the CRA and big daddy knows what your doing. So you might want to stay longer on a few stocks and ride them a little longer. TFSA's were not created to be tax free day trading heaven."
old_dog