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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Message: TFSA - This is what TD just told me
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TFSA - This is what TD just told me

posted on Aug 02, 2009 09:43AM

Your first $5,000 is tax free. If you go over the limit, that amount has a 1% penalty AND IS TAXABLE. I asked if there was a limit, but I doubted if it's taxable, as that means more money for CRA.

So, if you go over your limit by say $10 grand, then sell the first half of the shares you got with that 10 G's, it's tax free. But the second half of those excess shares will be a capital gain and you will be taxed on it when you sell those shares. In other words, excess contributions are taxable, if you make a capital gain on them.

Again, I'll confirm all of this on Tuesday AM, but it makes sense to me if it's this way.

strato

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Re: TFSA - This is what TD just told me
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mouser
Aug 02, 2009 10:14AM
Re: TFSA - This is what TD just told me
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snezzer
Aug 02, 2009 10:27AM
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