Comments on: Questions About The TFSA http://blog.taxresource.ca/questions-about-the-tfsa/ Canadian Tax Help & Financial Planning Resources Sun, 12 Feb 2012 02:53:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: SThttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10681 ST Thu, 09 Feb 2012 17:16:56 +0000 http://blog.taxresource.ca/?p=1036#comment-10681 I work for a company that has an employee share purchase plan. The company will match any share contribution purchase made by the employee. Can I purchase these shares from my TFSA and have the company match also deposited? When I sell from my TFSA would all the earnings be tax free? I work for a company that has an employee share purchase plan. The company will match any share contribution purchase made by the employee. Can I purchase these shares from my TFSA and have the company match also deposited? When I sell from my TFSA would all the earnings be tax free?

]]> By: SThttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10680 ST Thu, 09 Feb 2012 17:15:19 +0000 http://blog.taxresource.ca/?p=1036#comment-10680 I work for a company that has an employee share purchase plan. The company will match any share contribution purchase made by the employee. Can I purchase these shares from my TFSA and have the company match also deposited. When I sell from my TFSA would all the earnings be tax free? I work for a company that has an employee share purchase plan. The company will match any share contribution purchase made by the employee. Can I purchase these shares from my TFSA and have the company match also deposited. When I sell from my TFSA would all the earnings be tax free?

]]> By: Tax Guyhttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10399 Tax Guy Sun, 27 Mar 2011 00:17:45 +0000 http://blog.taxresource.ca/?p=1036#comment-10399 TFSA contributions are not reported on your tax return. TFSA contributions are not reported on your tax return.

]]> By: vwhttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10397 vw Sat, 26 Mar 2011 23:14:36 +0000 http://blog.taxresource.ca/?p=1036#comment-10397 where or what line do I input my TFSA contribution amount? where or what line do I input my TFSA contribution amount?

]]> By: Tax Guyhttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10362 Tax Guy Tue, 22 Mar 2011 01:43:29 +0000 http://blog.taxresource.ca/?p=1036#comment-10362 Hi there. See the link under How Does TFSA Contribution Room Work? In the article. Hi there. See the link under How Does TFSA Contribution Room Work? In the article.

]]> By: Adam Stanleyhttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10361 Adam Stanley Tue, 22 Mar 2011 01:24:20 +0000 http://blog.taxresource.ca/?p=1036#comment-10361 Each year I have invested $5000 into my TFSA... I have $20,000 in my TFSA and I invest it in a penny stock... in a short period of time the penny stock does extremely well and I sell it and my TFSA is now valued at $100,000... we have a family emergency and I'm required to withdraw the whole amount ($100,000)... it is a short term problem and the money is returned to me in a couple of months... the following year can I invest another $5000 (eligible amount each year) plus reinvest the $100,000 total that I had in it before for a total of $105,000 or am I only eligible to invest the accumulated amount of $5000 for each year of the five years which would equal $25,000?Thanks for your help,Adam Each year I have invested $5000 into my TFSA… I have $20,000 in my TFSA and I invest it in a penny stock… in a short period of time the penny stock does extremely well and I sell it and my TFSA is now valued at $100,000… we have a family emergency and I’m required to withdraw the whole amount ($100,000)… it is a short term problem and the money is returned to me in a couple of months… the following year can I invest another $5000 (eligible amount each year) plus reinvest the $100,000 total that I had in it before for a total of $105,000 or am I only eligible to invest the accumulated amount of $5000 for each year of the five years which would equal $25,000?

Thanks for your help,

Adam

]]> By: Nadiahttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-1/#comment-10319 Nadia Fri, 18 Mar 2011 17:50:49 +0000 http://blog.taxresource.ca/?p=1036#comment-10319 This just happened to me. My husband and I have a joint bank account. He was allowed to open a TSSA under the joint bank account. I had to open a separate bank account and then a TSSA under it. How weird is this. This just happened to me. My husband and I have a joint bank account. He was allowed to open a TSSA under the joint bank account. I had to open a separate bank account and then a TSSA under it. How weird is this.

]]> By: Toronto Mortgagehttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-10200 Toronto Mortgage Sat, 12 Mar 2011 01:48:31 +0000 http://blog.taxresource.ca/?p=1036#comment-10200 You loose $2000 You loose $2000

]]> By: Tax Guyhttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-9992 Tax Guy Fri, 04 Mar 2011 19:31:11 +0000 http://blog.taxresource.ca/?p=1036#comment-9992 Yes. You loose the $2,000. Yes. You loose the $2,000.

]]> By: Meechhttp://blog.taxresource.ca/questions-about-the-tfsa/comment-page-4/#comment-9985 Meech Fri, 04 Mar 2011 08:50:41 +0000 http://blog.taxresource.ca/?p=1036#comment-9985 My contribution limit for 2011 is $10,000 If I was to invest $10,000 into a TFSA and buy some poor shares with it which and i loose $2,000 than if i take the remaining $8,000 out of the TFSA account and close that account. Would be my contribution limit for 2012 be $13,000 given that the yearly increase is still $5,000. Does that mean i loose that $2,000 contribution limit on top of loosing the the $2,000. My contribution limit for 2011 is $10,000
If I was to invest $10,000 into a TFSA and buy some poor shares with it which and i loose $2,000 than if i take the remaining $8,000 out of the TFSA account and close that account. Would be my contribution limit for 2012 be $13,000 given that the yearly increase is still $5,000. Does that mean i loose that $2,000 contribution limit on top of loosing the the $2,000.

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