How much #debt is normal in #Canada? We’ll break it down by #age.
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
Visit: http://www.canadianmoneytalk.ca
The Advanced Investing: Stock Analysis Course is at https://canadianmoneytalk.ca/advanced-investing-stock-analysis-course/
The Investing & Personal Finance Basics course is at https://canadianmoneytalk.ca/investing-personal-finance-basics-course/
Canadian Money Talk 
I recently took all my investment it my own accounts . Not sure about trading in rrsp account and tfsa how CRA sees this . Could you maybe do a session on this topic . Thanks
LikeLiked by 1 person
Hi Grant – I answered a part of your question in the YouTube comments when you commented a week ago, so if you don’t mind a quick copy and paste… I’m not sure if I can do a video about it, since it’s a nebulous subject.
All of the following is just my opinion and gut feeling, based on the reading I have done; don’t base your life on the following. About trading in a TFSA, yes, the CRA could come after you, but they hadn’t officially published the line in the sand… the spectrum goes from buying and selling the same stock in the same day (i.e. day trading), through to buying once a month like I am doing, and hardly ever selling anything.
If you are day trading in a TFSA, even if you buy and sell in the same day just a couple of times per week, I would say that the CRA will eventually find out from your brokerage and flag you. The amount of money you made, if any, would be a consideration, I would think. If you’re mostly buying and sell something once a month, or quarterly to rebalance your TFSA or to make adjustments, I think you would be fine. Maybe if you’re doing something daily or weekly, that’ll get you flagged. If you are doing it monthly, then no.
The other thing I would be curious about is whether the CRA needs to think that this is your primary business/work and it’s how you make money, or if you have a day job and you do the trading for fun. The CRA decision probably has several factors that play into it. If they think you’re doing it for work and 90% of your income is coming from the trading in the TFSA, they may tax your gains as salary, as your business income. If you have a day job, but day trade, they may say any money you make is capital gains in a non-registered/cash account, and tax you that way (more favorably). I’m speculating and I am sure these things are case by case.
RRSPs get taxed when the money gets de-registered, so day-trading is allowed; it’s a different thing entirely than the TFSA.
I hope that helps.
LikeLike