Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [tfsa]

To be used for questions related to TFSA [Tax Free Savings Account] as applicable in Canada.

67 questions
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TFSA vs. RRSP... Best retirement approach

What's the best retirement strategy? Assuming I have $1000 and room in both my TFSA and RRSP contribution, where should the $1000 go?
M.Attia
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Is there a penalty if I withdraw from TFSA?

I have a TFSA account to which I have contributed 5000 yearly since past 3 years. Now in emergency, I need to withdraw some money. What are the penalties (if any) I am looking at? Thank you EDIT: My tax advisor says that you can withdraw only one…
Victor123
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Which account should I put my money to get the most tax benefit?

I have $5,000 that I would like to put in to an investment account. To get the maximum tax benefit, should I put it in my RRSP, my child's RESP, or my TFSA account? I have enough room in each of these, and I shouldn't need to use it for 15 years.
S. Chang
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Can capital gains from employee stock options be transfered to a TFSA to avoid taxes?

In a scenario where, for example: An employee exercised a "same-day-buy-and-sell" operation on his employee stock options. He ends up making a profit / gain of $10K. He already has a yearly salary of $55K. Because of this Capital Gain, the employee…
chamberlainpi
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What is a good place to park a Christmas bonus? Pay down the mortgage, TFSA or RRSP?

Many companies in Canada tend to pay out bonuses around Christmas time. If one is fortunate enough to get one this year what is the best strategy for the bonus? TFSA's have a limit of $5000 yearly. An RRSP will defer taxes and sometimes result…
Zephyr
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What type of investments should be in a TFSA, given its tax-free growth and withdrawal benefits?

What does an optimal TFSA portfolio look like? What type of investments should be in it given its tax-free growth and withdrawal benefits?
M.Attia
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Shelter personal corporation dividends in a TFSA?

As I understand it, it is possible for people who own their own corporation/small business to pay themselves through dividends. Since they own 100% share in the business they receive 100% dividends. Could a person funnel the "shares" of their own…
Mike Saull
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Does employer matching contributions in a TFSA count towards the annual limit?

Does my employer matching my contribution to a TFSA count towards my annual TFSA contribution limit?
Elaine
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5
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What happens to dividends on stock held in TFSA or RRSP account?

What happens when dividends are paid out on stock held in TFSA or RRSP accounts? Do the payouts get put back into those same registered accounts? Are they considered 'contributions' into those accounts i.e. - does it count against the contribution…
Giablo
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I'm a Canadian citizen and now a US resident. How do I close my Canadian RRSP and TFSA?

I am a Canadian citizen who moved to the US in 2009. I am now a US resident and Canadian non-resident. I still have a Canadian RRSP, TFSA, and bank account. I've filed FBARs since becoming a US resident. I would like to close the RRSP and TFSA and…
Canuck
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I have not yet invested into a TFSA - how much can I invest in 2011?

I have not yet created a TFSA, nor invested anything in it. I am looking to put some money in in 2011, what will my cap be?
blueberryfields
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Investing for Dividend Income with Canadian TFSA

I have a TFSA that I tend to max out every year. I would like to invest this money into stocks that pay me out dividends on a regular basis. I asked a previous question about the tax implications in my province, and was happy with the results. I…
Canadian Luke
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Can you point me to the correct US tax forms if I have a Canadian TFSA mutual fund?

I am a Canadian citizen and American permanent resident who invested in a TFSA mutual fund with a Canadian bank. Im looking to be pointed in the right direction for filing American taxes on these capital gains. Thanks very much
Nth.gol
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Should I max out my TFSA contribution before any other investments?

I'm still relatively young (I just turned 30), and no debt but mortgage. I'm kind of late to the retirement savings game and still have $15,000+ of contribution room for my TFSA as of this year. As a rule of thumb, should I max out my TFSA…
John
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Tax free savings or mutual funds (Canada)

I have an RRSP that over the last two years has held at ~10.3% and I have an emergency fund of $10,000 that is just sitting in my savings account. Would it be prudent to put that whole $10,000 into a mutual fund, slowly making money for me but have…
uMinded
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