TFSA re: Sombrero/Tier One MetalsSo I received the dreaded letter from my broker (TD Waterhouse) informing me that Sombrero/Tier One are considered non-qualified investments. Apparently, this was at the behest of the CRA.
I asked my broker how is it that a zero value stock that hasn't even been listed on a specific exchange is considered "non-qualified." They didn't know, and were merely doing what the CRA told them to do.
As it stands, I have moved these zero value stocks into my Cash Trading Account and will have to wait and see which exchanges they do indeed get listed on and possibly bump them back into my TFSA if they qualify; hopefully, with some lead time, they will still be of zero value and I won't have to worry about paperwork/capital gains.
Any one with similar experience or thoughts.