RE: RE: Here's a little insite on TFSAThye limit on the TFSA is $5,000 annunally.
Equities can be transfered from an existing Investment account to the TFSA
if desired rather than taking any new monies.
Any amount deposited can be withdrawn at any time.(According to my broker- there is no restriction on withdrawals
ie: You transfer $5000 worth of CYP shares at .25 = 20,000 shares
CYP goes from .25 to $2.00 You now have $40,000.00 in your TFSA
You withdraw $40,000 (whenever you want) in the year TAX FREE
You cannot add back into the account untill next year as your $5,000 limit has been reached.
Next year you can use the $5000 limit for the year plus the $40,000 that was withdrawn this year for a total of
$45,000.
The ideal situation is to transfer penny stock (the ones you really like) and let them grow in your TFSA.
When you feel they have reached close to potential you with daw anc create room for in you TFSA.
Let the major growth take place in the TFSA and then remove it TAX FREE to create room for more growth.
I hope this explains the issue more clearly.
Good Luck