Quote:
Originally Posted by vl_86
This is not true, it depends on how active you are with your trades also. If you are using your TFSA like a day trading account and you make extreme gains, the CRA considers this business income and can tax you on it.
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From what I recall, I tried looking this up last year and there wasn't anything specifically mentioning about gains being taxable in TFSA.
I know there were some extreme examples where some people' TFSA were over a million in market value and CRA being CRA wants a piece of that pie.
If you day trade as mentioned, probably run yourself into a risky situation. If you hold long and sell, wouldn't be too concerned.