RE:RE:Question regarding TFSA This is correct, hence the "Tax Free" Savings Account.
Also, if you are holding shares in a TFSA, you need to be sure that you're not taking advantage and using it as a trading account - therefore you can't be day trading in a TFSA. Although the CRA has no specific details/guidelines as to how many trades you're allowed in a year within your TFSA, you should probably stick to somewhere around 25 trades a year (or less) to stay off the CRA's radar.
Obviously anything can happen and you can trade much more and can get away with it if you aren't making an insane amount of money. But the government will find a way to tax you if you're taking advantage of the system.
I'm not a financial advisor, and what I've written above may or may not be correct, but it's the guidelines that I follow within my TFSA.
Cheers
Brockvegasgal wrote: No. TFSA is set up so there is no tax advantage or disadvantage. That's the beauty of it as far as I see it. You can make a million, and not pay one cent in taxes upon withdrawal. Same if you lost it all, there is zero tax write off. I could be wrong but...