OTCPK:MAUXF - Post by User
Comment by
ncideron Jan 04, 2011 10:16pm
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Post# 17925443
RE: RE: TFSA and MMT
RE: RE: TFSA and MMT4fun: Your points are valid but I'm not choosing between a RRSP contribution or a TFSA contribution. I max out both every year. I have shares in another company that I've ear marked for my RRSP contribution. It's the same as the argument for paying down a mortgage vs making a RRSP contribution. There's no argument if you can do both.
As far as the deemed disposition of the shares on transfer, it's the same capital gains tax implications whether they're going to a RRSP or TFSA.
One point you left out is that any withdrawal from my TFSA is tax free and adds to my contribution limit room in the following years. Withdrawals from a RRSP are taxable and cannot be recovered as additional contribution room later. I hope I won't need to make any withdrawals from either in the near future but it's another consideration.
The American members of this board can totally ignore this conversion as it won't make sense to you since you don't have pleasure of dealing with the CRA. :)