Re: I'm going to rain on the "I'm glad I transferred shares to my TFSA" Parade.

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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khareema

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Re: I'm going to rain on the "I'm glad I transferred shares to my TFSA" Parade.

in response to

I'm going to rain on the "I'm glad I transferred shares to my TFSA" Parade.

snezzer

posted on Jan 06, 2009 07:43PM

Hello back, Snezzer

Hoov and myself had a bit of discussion on the weekend on this forum regarding this transfer subject. He was right. I was wrong.

I did discuss it further with my inv advisor on Monday and did clarify things a bit.

When I said we were transferring NOT shares into my new acct, we were doing something like that but not really. He recorded it as two separate transactions.

He shows it as a sale on my cash account, and issues a receipt for it as that, at the listed SP at the time.

He then shows a separate transaction; a purchase at market for the new account. There is a cash lag that does not show up as the sale doesn't close for three days, but he covers it within the allowed margin on my cash account.

I realize this may differ depending on the broker, but I will chalk that up to the relationship you have with them. I have been dealing with the same guy since 1976.