Tangelo Games Corp. IPRSF

RE:RE:RE:RE:RE:RE:CZO

[klepto84]

I have a letter from CRA confirming that gains within TFSA's are not taxable.  That being said CRA is famous for doing stupid things. I spent 5 years being treated like public enemy number 1 because I overpaid GST on a business I closed.  They eventually gave me the overpayment with interest, but--5 frickin' years? They have targeted high yelding accounts run by alleged day traders and professional traders.  One guy had $1.5 million in his account and he's fighting CRA.  Others have ponied up.  The question is: ARE YOU RUNNING A BUSINESS within a TFSA?  CRA is taking a position that TFSA's are for individuals not businesses so if I'm trading in my TFSA as a business, I could be taxed.  I think CRA will lose in court on this, but the Canadian tax system is the opposite of our courts:  we are guilty until we prove CRA wrong and that can be long and expensive.  Some people pay up because it costs a lot to fight.  I am neither a professional investor nor a day trader.  I am employed not trading full time and I'm a long way from $1.5 mil in my account so I'm not worried.  Hell if I turned over $1.5, I'd give CRA their cut just to keep them out of my life.  Worse than the mafia those buggers!