RE:RE:RE:RE:RE:RE:RE:RRSP to TFSA questionDibah: Not missing any point at all, the 'S" in TFSA stands for 'SAVINGS'. It doesn't stand for "something", "semi-pro" or "successful" Just posting a question stated by others which is why I had it in quotations.
Fair question, If I'm going to be taxed on the gains then I should be able to write off the losses. You are likely to get taxed based on the fact that one is deemed a 'day trader'. If you are only losing money don't worry about the CRA stepping in, but in such a case should one have the option of claiming that he or she IS a day trader in order to claim the losses. Without specific guidelines the CRA can have it both ways.
I personally do not 'day trade' buy do buy and sell at opportune times, mindful of the intent of the TFSA, to help grow the "SAVINGS".