Canada covid-19 pandemic Canada

Frequently trading stocks in your TFSA? The CRA may have questions

Reading now: 882
globalnews.ca

COVID-19 pandemic and soaring stock market have given young Canadians a taste for buying and selling their own securities. But not all newbie DIY investors seem to know there are potential tax risks in trading too frequently inside a tax-free savings account (TFSA).“We’ve seen cases on it,” says Jamie Golombek, managing director of tax and estate planning at CIBC Private Wealth Management.“When I get calls from clients who say that their 19, 20-year-old sons want to open up TFSA accounts for trading, I caution them.

I say, ‘you’ve got to be very, very careful,'” Golombek says. How COVID-19 is luring Canadians into the stock market The downside is risking unwanted attention from the Canada Revenue Agency (CRA).Canadians can hold qualified.

Read more on globalnews.ca
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News