«« BACK
TFSA Investors: Beware This Huge CRA Tax Bomb
If you invest in a Tax-Free Saving Account (TFSA), you expect to pay no taxes on your investments. It’s in the name, after all: tax-free savings account. As long as you hold approved investments and stay within your contribution limit, you should pay no taxes on TFSA stocks. And 99% of the time, it does work out that way. But there is one specific situation where you can find yourself getting taxed–heavily–inside a TFSA. This situation doesn’t apply to most investors, however.
Original Article Source Credits: The Motley Fool ,https://www.fool.ca/
Article Written By: Andrew Button
Original Article Posted on: May 18, 2021
Link to Original Article: https://www.fool.ca/2021/05/18/tfsa-investors-beware-this-huge-cra-tax-bomb/
Categories
RECENT POSTS
- » How Smart Compensation Strategies Protect Your Corporate Wealth
- » Are Surprising Audit Triggers Putting Your Business at Risk?
- » 7 Costly Entity Structuring Mistakes BC Entrepreneurs Should Avoid
- » Are Hidden Tax Traps Draining Your Corporate Profit Margins?
- » How to Avoid Hidden Tax Risks When Investing in BC Real Estate
- » Costly Corporate Tax Filing Mistakes BC Business Owners Make
- » How Smart Payroll Practices Help Your Surrey Business Avoid Headaches
- » How to Spot Hidden Risks in Corporate Accounting for BC Businesses