http://blog.taxresource.ca/what-the-new-tfsa-rules-prevent/ Canadian Tax Help & Financial Planning Resources Mon, 15 Mar 2010 19:24:59 -0500 http://wordpress.org/?v=2.9.1 hourly 1 http://blog.taxresource.ca/what-the-new-tfsa-rules-prevent/comment-page-1/#comment-4576 Tax Guy Thu, 21 Jan 2010 01:14:41 +0000 http://blog.taxresource.ca/?p=3117#comment-4576 @ deno2009 - Yes fair market value on the date of transfer is the value used. And yes, the investment grows tax free from that point on. @ deno2009 – Yes fair market value on the date of transfer is the value used. And yes, the investment grows tax free from that point on.

]]> http://blog.taxresource.ca/what-the-new-tfsa-rules-prevent/comment-page-1/#comment-4574 deno2009 Thu, 21 Jan 2010 00:20:38 +0000 http://blog.taxresource.ca/?p=3117#comment-4574 Hi, just looking for clarification about contributing shares into a TFSA. as per the comments about any gain is considered taxable but losses are not deductible. So with respect to the gains, would the person doing my taxes deem the shares to have been sold at fair market value on the day the transfer into the TFSA took place? And then from that point, any further gain in value would accumulate tax free? Hi, just looking for clarification about contributing shares into a TFSA. as per the comments about any gain is considered taxable but losses are not deductible. So with respect to the gains, would the person doing my taxes deem the shares to have been sold at fair market value on the day the transfer into the TFSA took place? And then from that point, any further gain in value would accumulate tax free?

]]> http://blog.taxresource.ca/what-the-new-tfsa-rules-prevent/comment-page-1/#comment-3944 Tax Guy Wed, 21 Oct 2009 20:09:21 +0000 http://blog.taxresource.ca/?p=3117#comment-3944 It appears the point of the exercise is to shift RRSP money to the TFSA or to get open funds into the TFSA using the swap strategy. The cash in one account is swapped for assets in another. It appears the point of the exercise is to shift RRSP money to the TFSA or to get open funds into the TFSA using the swap strategy. The cash in one account is swapped for assets in another.

]]> http://blog.taxresource.ca/what-the-new-tfsa-rules-prevent/comment-page-1/#comment-3943 CanadianInvestor Wed, 21 Oct 2009 09:54:08 +0000 http://blog.taxresource.ca/?p=3117#comment-3943 What is to prevent someone from doing the RRSP meltdown simply by buying and selling in the two accounts instead of doing swaps? What is to prevent someone from doing the RRSP meltdown simply by buying and selling in the two accounts instead of doing swaps?

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