My questions is by transfering, will I still be able to realize the losses when I file income tax? Would I be better off to add him to my existing account or open seperate joint account.

As for TFSAs, I am of a similar state of mind as Million Dollar Journey, that the best holdings in these accounts is Income Trusts. I have written articles about why I believe this on my blog and even have a page dedicated to displaying my actual TFSA holdings, which is kept up to date. Bascially, I believe the TFSA should be use for investments that would normally be tax inefficient and still have capital gains potential. As a result of the new legislation regarding Income Trust Taxation coming for 2010, I have decided to fully fund my portfolio with Income Trusts.

For those of you who are not sure whether to invest in a TFSA or RRSP please take a look at my simple guide: http://investingincanada.info/2009/11/rrsp-vs-tfsa-which-investment-account-to-use.html

I was looking at this and I see a bias towards Questrade. It seems fishy.

I use Q-trade and I am happy with it and it has won numerous awards from the Globe and Mail.

I had my TFSA set up with Q-trade BEFORE the end of 2008 so whoever is pushy Questrade outa do their research

Are there any high yielding investments that can take full advantage of the TFSA post-2011?

I’m a pretty decent trader and make on average 5% on my portfolio each month. So i’m thinking i eat the 1% a month for the first 6-12 months and then pull out my over contribution amount leaving my capital gains in the account to continue to trade tax free. :)

Seems like I didn’t brake my neck after all… Not yet anyway… :)

In a nutshell, U.S. dividends are taxed at 15%, or 30% if you have not filed a W8-BEN with your brokerage. These amounts will be withheld by your broker.

Your capital gains are not subject to U.S. tax.

”… The U.S. government does not recognize registered education savings plans (RESPs) or tax free savings accounts (TFSAs) in their current tax treaty. All USD income earned in these accounts will be subject to applicable taxes.”

Can someone please shed some light on how this will impact my capital gains and dividends.

Thanks!

I suppose just as long as I get the US and US ADR dividend paying holdings in before pay-day then I should be able to benefit from the tax-free status. Perhaps I’ll be waiting for a dip in the market? Hmm. Any good advice on how to ‘time’ the market? I don’t think I’d make a very good stock ‘daytrader’.

I’m leaning towards option # 4 since, as you can read above, there are so many unanswered questions with the TFSA.

PC Financial has a tidy 3.75% rate.

Why not put the $$ there for the 1st year and wait until the dust settles?

Option # 3 isn’t a good one since you have to “watch when payments are due”. I don’t know about you, but I have enough things to watch already.

Option # 1 and the use of REITs in the TFSA may be a good move, if you want an income flow. I may go this route in the future.

Can we trade US options in the TSFA account?

Thank you

with this volatility, 30 days out of the holding seems like an eternity. maybe worth a gamble though, since i’ve got some holdings with very substantial losses.