Comments on: Tax Free Savings Account-Ideas and Strategies http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/ Personal finance blog discussing investments, savings, insurance and financial planning ideas to grow wealth Wed, 23 May 2012 06:40:20 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: TFSA vs RRSP vs Non-Registered? What is the right account for your investments? http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-44535 TFSA vs RRSP vs Non-Registered? What is the right account for your investments? Tue, 08 May 2012 20:15:26 +0000 http://financialhighway.com/?p=72#comment-44535 [...] Tax Free Savings Account-Ideas and Strategies [...] [...] Tax Free Savings Account-Ideas and Strategies [...]

]]> By: Ray http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-4897 Ray Thu, 29 Jul 2010 11:31:25 +0000 http://financialhighway.com/?p=72#comment-4897 Hi Alan, As long as you keep the funds within the TFSA account, there is no taxes on the gains. That is the whole point :) Hi Alan,

As long as you keep the funds within the TFSA account, there is no taxes on the gains. That is the whole point :)

]]> By: Alan http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-4887 Alan Wed, 28 Jul 2010 17:34:41 +0000 http://financialhighway.com/?p=72#comment-4887 Hello, I have a question about TFSA and investing. I have a TFSA which I buy and sell stocks. I have been fortunate and doubled my contribution . Do I pay capital gains on the money I made within my TFSA? Hello, I have a question about TFSA and investing.

I have a TFSA which I buy and sell stocks. I have been fortunate and doubled my contribution . Do I pay capital gains on the money I made within my TFSA?

]]> By: Ray http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-3227 Ray Wed, 14 Apr 2010 10:04:58 +0000 http://financialhighway.com/?p=72#comment-3227 Hi Lettesha, I believe you are referring to your notice of assessment and your contribution room in TFSA. That just means you have $10,000 available contribution room, there is no $10,000 for you unfortunately. All it means is that you can contribute up to $10,000 in your TFSA account this year. Hi Lettesha,

I believe you are referring to your notice of assessment and your contribution room in TFSA. That just means you have $10,000 available contribution room, there is no $10,000 for you unfortunately. All it means is that you can contribute up to $10,000 in your TFSA account this year.

]]> By: Lettesha http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-3224 Lettesha Wed, 14 Apr 2010 03:52:39 +0000 http://financialhighway.com/?p=72#comment-3224 Hello, Canada Revenue sent me a letter asking for money that I owe from my annual taxes and I read that I have $10,000 in my TFSA. My questions are... Am I able to use this saved money at any time? Can I use it to pay the money I owe to the Canada Revenue Agency? Is the money in this account mine? Could I use it to pay other debt (Credit Cards, Bills, etc.)? I have researched it quite a bit over the internet but I still can't seem to quite figure it out. Please help! Much appreciated, Thanks. Lettesha Armstrong Hello,
Canada Revenue sent me a letter asking for money that I owe from my annual taxes and I read that I have $10,000 in my TFSA. My questions are… Am I able to use this saved money at any time? Can I use it to pay the money I owe to the Canada Revenue Agency? Is the money in this account mine? Could I use it to pay other debt (Credit Cards, Bills, etc.)? I have researched it quite a bit over the internet but I still can’t seem to quite figure it out. Please help! Much appreciated, Thanks.
Lettesha Armstrong

]]> By: Tax Free Savings Account (TFSA) Ideas | Financial Highway http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-697 Tax Free Savings Account (TFSA) Ideas | Financial Highway Thu, 09 Jul 2009 09:04:57 +0000 http://financialhighway.com/?p=72#comment-697 [...] be a hot discussion topic as investors are trying to figure out how to use it. I have written about TFSA strategies previously as well as a TFSA FAQ section, but every week I continue to get emails about how to use [...] [...] be a hot discussion topic as investors are trying to figure out how to use it. I have written about TFSA strategies previously as well as a TFSA FAQ section, but every week I continue to get emails about how to use [...]

]]> By: Tax Free Savings Account (TFSA) FAQ | Financial Highway http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-397 Tax Free Savings Account (TFSA) FAQ | Financial Highway Mon, 25 May 2009 09:33:50 +0000 http://financialhighway.com/?p=72#comment-397 [...] May 25, 2009Tax Free Savings Account (TFSA) FAQ I have noticed there are a lot of questions around the TFSA so here is a list of TFSA FAQ`s I am sure it does not answer all questions about the tax free savings account, but hope it answers some. You can find some TFSA strategies here. [...] [...] May 25, 2009Tax Free Savings Account (TFSA) FAQ I have noticed there are a lot of questions around the TFSA so here is a list of TFSA FAQ`s I am sure it does not answer all questions about the tax free savings account, but hope it answers some. You can find some TFSA strategies here. [...]

]]> By: Understanding Bonds-What Are Bonds? | Financial Highway http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-175 Understanding Bonds-What Are Bonds? | Financial Highway Tue, 24 Mar 2009 05:55:17 +0000 http://financialhighway.com/?p=72#comment-175 [...] The coupon payments from bonds are taxed as income at your marginal tax rate. If you buy a bond in the secondary market at a discount and hold till maturity than the difference between your purchase price and par value (maturity value) is treated as capital gains, except with zero-coupon bonds where the differnce is treated as income. Bonds are not the most tax efficient investment vehicle, but yet an important part of your portfolio. You can hold them in your RRSP or TFSA to make them more tax efficient. [...] [...] The coupon payments from bonds are taxed as income at your marginal tax rate. If you buy a bond in the secondary market at a discount and hold till maturity than the difference between your purchase price and par value (maturity value) is treated as capital gains, except with zero-coupon bonds where the differnce is treated as income. Bonds are not the most tax efficient investment vehicle, but yet an important part of your portfolio. You can hold them in your RRSP or TFSA to make them more tax efficient. [...]

]]> By: Carnival of Personal Finance #193: YouTube Edition — Broke Grad Student http://financialhighway.com/tax-free-savings-account-ideas-and-strategies/#comment-16 Carnival of Personal Finance #193: YouTube Edition — Broke Grad Student Mon, 23 Feb 2009 12:06:05 +0000 http://financialhighway.com/?p=72#comment-16 [...] Financial Highway presents Tax Free Savings Account-Ideas and Strategies. [...] [...] Financial Highway presents Tax Free Savings Account-Ideas and Strategies. [...]

]]>