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TELESTA THERAPEUTICS INC T.TST

"Telesta Therapeutics Inc is a biopharmaceutical company. The Company is engaged in the research, development, manufacturing and commercialization of human health products and technologies."


TSX:TST - Post by User

Bullboard Posts
Comment by No_Replyon Jan 02, 2013 2:16pm
283 Views
Post# 20789494

RE: RE: TFSA -- CAPITAL GAIN/LOSS

RE: RE: TFSA -- CAPITAL GAIN/LOSS

ConspiTheory, a caveat for you on transfers of shares from a taxable brokerage account to a TFSA.

If you do such a transfer, you are considered to have disposed of the shares (from the taxable brokerage account).  If you have a profit, you have to claim a capital gain; if you have a loss, you cannot claim the capital loss.  With the current price, I don't think many here will have a gain ... most, if not all, will have a loss which cannot be claimed.

Here is the 'cut and paste' from Revenue Canada's web site and below that is the link.

“In kind” contributions

You can also make "in kind" contributions (for example, securities you hold in a non-registered account) to your TFSA, as long as the property is a qualified investment. You will be considered to have disposed of the property at its fair market value (FMV) at the time of the contribution. If the FMV is more than the cost of the property, you will have to report the capital gain on your income tax return. However, if the cost of the property is more than its FMV, you cannot claim the resulting capital loss. The amount of the contribution to your TFSA will be equal to the FMV of the property.

https://www.cra-arc.gc.ca/E/pub/tg/rc4466/rc4466-e.html#P44_1142

 

 

Bullboard Posts