GB Group Ord Shs GBGPF

RE:RE:RE:RE:RE:Valued of the ACB - CMED deal = $12.646 ACB =$42.99 per CMED

[Brento1]

Eigen337. Thanks for your comment. I think I need to provide more detail for my post to be more concise.

Firstly. I am not giving anyone advice. I am just commenting on what I did after consulting my accountant and CRA.

In Dec 2017 I set up a margin account at a big Canadian bank. I had considered starting with a TFSA but my accountant was on a beach so I went the most conservative way with a margin account. I funded the account and purchased securities in Dec 2017 and early 2018. 

My now tanned accountant advised me I had 10 unfunded TFSA yrs and to use them. So I set-up a TFSA connected to my margin account. The bank transfered the specific securities in 10 min + 1 non trading day. All owned longer that 30 days.

Apparently when one transfers securities from the same entity's margin to TFSA account is it not treated as a sale/purchase. However there is a value at time of transfer valuation accounting done. I will pay personal tax on the profit on some and have deductable loss on others.

My TFSA has only longer hold stocks. My margin account has trading stocks and funds for day trading.

I was going to move the stocks to my TFSA regardless of profit or loss. The big loss in the market was not planned by me. I would have preferred to have everything at ATH and pay the tax on profits. It just turned out timing delivered me a tiny cherry on top of the big sh8t sundae of last week.

I would be much more worried if I did not clear this TFSA move and was regularly "trading" from my TFSA account. All the non professional retail traders jumping into the MJ sector using TFSA accounts are taking a much greater CRA risk.