GREY:VITFF - Post by User
Comment by KenoHillYTon Nov 28, 2024 3:15pm

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Post# 36336091
RE:RE:RE:Capital Loss - 2024 Tax Planning Strategy
RE:RE:RE:Capital Loss - 2024 Tax Planning Strategy
HB - totally correct.
Foe those that are day trading in a TFSA the risk is that you will be audited by CRA if it exceeds a threshold. ;)
If CRA sees a TFSA that is increasing beyond a threshhold and repeated day trading (this includes holding overnight, etc.) expect CRA contact. They don't have those Cray Supercomputers running for nothing. LOL
An RRSP they won't look at much as you will be taxed at withdrawal.
The gist of it is the government wants it's share of the profits.