RE:RE:couldJust a couple of comments to round out this conversation:
1) The CRA will definitely be interested if your day-trading results in "out-sized" gains in your account. I have heard in the past that if you're trading habits suggest this is what you're doing to earn a living then you're definitely going to get on their radar. Also, if you're day-trading hundreds of dollars maybe not so much, thousands of dollars, I would say yes, you're going to draw attention.
2) If you "lose" money in your TFSA due to a bad stock trade then that contribution room is gone forever, you can not re-contribute your losses.
3) You can withdraw cash from your TFSA whenever you want (I don't know if you can transfer in kind, or not). When you do a withdrawal the same amount gets added to your contribution limit
the following calendar year. So, if you were to sell some stock, and withdraw $3,000 between now and Dec 31, then next year you would be able to contribute an additional $3,000 to your TFSA in excess of the annual amount (which is currently $6,000). This is true even if you withdraw the money on Dec 31st (assuming that's a business day).
Chitoryuteacher wrote: Once you transfer money into your TFSA. you can move it around to other stocks if you want. It's the contribution that matters.
so when you transfer money into your tfsa stock trading account, it will warn you to be aware of your contribution amounts. But once it's in there you can move around.
If you take it out. It doesn't come out until the next calendar year.