Black Iron Inc T.BKI

TFSA

[keswickbill]

hey guys I currently hold 50k shares in my tfsa. I've looked extensively at the rules and from what I understand bki is a qualified security to hold in a tfsa. I have been accumulating for over 3 years and I haven't been day trading the stock. do u guys have any insight on this and do u hold bki in a tfsa as well? I'm concerned that if bki blows up which it will :) the cra would audit the account. thanks glta

[6pako6]

I've been holding for 5 years in a tfsa, adding randomly. My accountant assured me that it will all be tax free.  (She even brought some hehe...) as for day trading, I was also told that it takes a certain amount of trades a day to consider it, but nobody knows exactly how much, the cra evaluates each cases differently.  It's not clear...

[6pako6]

Generally, interest, dividends, or capital gains earned on investments in a TFSA are not taxable either while held in the account or when withdrawn. There are, however, certain circumstances under which one or more taxes may be payable with respect to a TFSA. The following sections provide information and examples of when and how these taxes are payable, and by whom. Normally, in

[DragonOilGuy]

Lucky you. Here, 25 per cent of the profit is always due as tax

[6pako6]

Where are you from?

[Kpoppa]

To be considered a qualifying investment under a TFSA or any other canadian registered account the company can be listed on certain exchanges. The TSE tier 1 and 2 are considered eligible investments. I believe there are only two tiers to the exchange but it is listed on the Canadian government website.

[Kpoppa]

https://www.canada.ca/en/department-finance/services/designated-stock-exchanges.html

[Kpoppa]

Tse and tsx venture are both found on the designated list.

[Kpoppa]

2.5 A prohibited investment for a registered plan is defined in subsection 207.01(1) as any of the following: a debt of the controlling individual of the plan a debt or share of, or an interest in, a corporation, trust or partnership in which the controlling individual has a significant interest (see 2.6 to 2.15) a debt or share of, or an interest in, a person or partnership with which the

[Kpoppa]

An investment that is outside of these rules for qualified and prohibited investments are subject to tax. As well to answer your question on day trading, unless you are swing trading bki for income you are fine.

[DragonOilGuy]

Germany I forgot. 801 euros per year are tax-free. Anything above this is taxed at 25%. This is all done by the broker directly at the time of sale.

[DragonOilGuy]

How are things in Canada for you? Let's say you had 100,000 CAD profit. What does the tax office take?

[Zynder]

I’m in Canada and hold the majority of my holdings in a TFSA. It is a tax free account. 0 tax as I don’t day trade. I buy and hold. I hold 359,000 shares at the moment. I had bought the extra 9,000 last Monday at 0.425 and 0.43. lets hope this coming week we get the off take and a nice gain in stock price. GLTA shareholders. Z

[LandCruiser1983]

Wow. TSFA started in 2009. To have accumulated 359,000 shares in that account in 12 years ,12x6000, is pretty impressive. Well done , as I am sure that is not the only stock in your TSFA you are holding!

[LandCruiser1983]

12x$6000

[keswickbill]

ty for all the reply. on the Monday after aggressive Russian action on the border I did sell like 10k worth and then bought it back after I saw that the market wasn't freaking out like I was. hardly constitutes day trading imo

[Zynder]

Actually 274,000 in the tfsa and the rest in rrsp. Most of my holdings pay about 6.5% yield. I use the income to buy more things. my best gain was FD. Got in at about 0.80 and out at mostly 9.00. I got into the capital pool before it was reverse taken over. Just plain luck I guess. Z