Data Deposit Box Inc DDBXF

Anyone Who Is Bullish On This Or Other Holdings...

[ScarletSpider]

you may wish to consider protecting your shares as much as you can by transferring whatever you can to a maximum of $5500 into your tfsa account. Best to do so when the shares are lower valued as you will be able to put more into your account. You don't need to only put monies in you can also put equity equivalency. I have maxed out my contributions. Total space for anyone who is not up to date is $57,500 it is always best to take as much advantage of the tfsa as you can--it helps a lot!!!


good luck all!

[Cimmerian]

Thanks Scarlet. It definitely helps! Cheers, Cimmerian.

[ScarletSpider]

You're very welcome Cimmerian, I'm happy to have helped :-)  good luck everyone!!!

[ironmoney]

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[ITALBOSS]

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[ScarletSpider]

100% correct Italboss! Make sure you don't contribute more than $57,500 that is the limit to date. Any overcontributions as to my understanding is penalized at 1% per month until the amount that is over contributed is cleared out but i am not 100% sure about this one--this is to my understanding as to what I believe to have been told by a TD agent when i called in yesterday. good luck all!

[AcynicalJedi]

There have now been a few cases where people who have traded too much inside their TFSAs have been taxed on the gains. If you trade too much CRA "MIGHT" audit you and  claim you are treating it like a job and they tax it like working income.

[ITALBOSS]

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[ScarletSpider]

the problem comes when people are claiming more than what they are declaring and then you create suspicion so i absolutely agree with you Italboss. If you properly show all of what you are doing than there is no reason whatsoever for CRA to come after you although yes, i did read in the paper that there was someone who was a funds manager from my understanding and he was making ridiculous amounts

[AcynicalJedi]

TFSAs being taxed

[ITALBOSS]

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[AcynicalJedi]

[/quote] No the judge charged him @ 100% of his marginal tax rate.

[ScarletSpider]

the person had to have been doing something really underhanded because what would the point be to have tfsa's and say to people if you make a million dollars off of 10,000 and you could keep it all only to be audited and then charged. the person had to have an undisclosed source of income and or claiming more expenses against his earnings that he/she did not properly show. If people claim a

[ITALBOSS]

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[ScarletSpider]

I have read both the ltv write up and this one and again i see something far deeper in this than what that one has and that is actually really impressive. This company is a beast in the making for sure. If i wasn't fully invested and following a very fixed investment strategy i would have gobbled up more shares but i know what i have will definitely bring me a good amount of happiness for its

[Fung1987]

Look a it this way , if I use a normal account to buy stocks , I have to declare my profit , this everyone know , but you can also declared lost and save money on taxes . On the other hand , a taxe saving account , you can't declared lost , so they have no right to taxe this account ,since they are not giving any benefit .

[Greengains]

True but you can only claim a loss agains your gains you cant claim a full on loss

[ScarletSpider]

yes, that is correct. If you are fully profitable you will be paying capital gains and can't claim losses, but if you have some gains and some losses the amounts of capital gains will be reduced and depending on your tax bracket and marginal tax rate you will pay that corresponding amount. I for example make about $12,000 and let's say I have a gain of $20,000 that would be taxed at the

[ScarletSpider]

that is really stupid!!! Why offer this if that is what they are going to do? The whole point was that the CRA has no idea what is inside your TFSA just the amount contributed that is what I was told by all the banks i talked to. This sounds like a Trudeau move and something i can't stand what he has done. He took away the $10,000 plus and now is wanting to go after those who are actually

[ITALBOSS]

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[Haze028]

This was my understanding too, if you trade too much your TFSA could be flagged as secondary income and taxed at a high rate. I can't seem to find any guidelines as to what constitutes 'too much' trading, but it's something to be aware of. That being said, unless your gains are significant, I cannot see the CRA getting involved. https://business.financialpost.com/personal-finance

[AcynicalJedi]

there are no CRA approved guidelines as such.  However i would surmise this. At most online brokerages there is a threshhold of trades per quarter at which you will start to recieve discounts on your trade commisions. From what I have read at various brokerages websites that thresh hold tends to be about 150 trades or more per quarter.  If you are at or above this thresh hold and have