TSX:BPO.PR.A - Post by User
Comment by
DemDemon Nov 20, 2023 9:52pm
207 Views
Post# 35745657
RE:RE:RE:RE:RE:RE:RE:RE:RE:That ~14% yield will jump to probably ~15%-25% for most
RE:RE:RE:RE:RE:RE:RE:RE:RE:That ~14% yield will jump to probably ~15%-25% for mostBe careful not to play day-trader in a CELI account, however, the tax authorities have given some people nightmares.
The Canada Revenue Agency does not look favourably on stock market traders, so much so that it prohibits them from using TFSAs to make tax-sheltered money. It is not the size of their returns that makes an investor what is known as a day trader, but the frequency of their trades, the length of time they hold the shares, the use of leveraged loans, and the time spent managing the portfolio.
It's hard to draw the line precisely, but hyperactive people always get attention. As soon as the tax authorities deem the investment activities abusive, they will treat their returns as business income. They will be taxable in full.
A minority of CELI users are affected, but when they get picked up by the tax authorities, it's not half of them.