Pacific Wildcat Resources Corp PWCRF

RE:TSFA dividends

[Macer]

Rocketred2015 wrote:
Q. My TFSA is maxed out and I hold EIT Income Fund (EIT.UN-T) which is a high-paying dividend stock. My pension income is minimal and Ill be using the dividend as investment income soon. Presently, I am on the DRIP with my dividends. I dont think Ill have to pay tax when I use this dividend as income. Am I correct in this assumption? Thanks, Dan A. You almost got me, Dan. Your question reminds me of a tricky multiple choice question on an exam. Youre correct, its not taxable income but maybe not for the reason you think. If youre holding the EIT.UN inside your TFSA, as you are, then anything you draw out of the TFSA is tax-free. It doesnt matter if it is capital gain, interest, or dividend income, it is all tax-free.

Answer = D). all of the above