Hey, great content! Can you do a video comparing various banks and online platforms that offer TFSAs and RRSPs ?? Would be really helpful and gather lots of views! 👍👍👍
great video. thank u one ? though. what about if my husband names me as his TFSA successor, but if i die before him, what will happen to his TFSA? and who will get it after he died.
TFSA successor can only be spouse. If he doesn't get one after you and naming the successor of you the successor of his TFSA, it will become inheritance and has to be closed out.
If you have 60k total contribution room from previous years for example and you withdrew 10k from tfsa this year, you still safe to put 50k into it right? Or there is a limit every year how much you can contribute and withdraw in a year total? This part always makes me confused. Or if you don’t withdraw anything can you put 60k all at once? Thank you
Assuming you didn’t contribute anything throughout the year, you can still contribute $60k even after withdrawing $10k. The withdrawal only affects the contribution room for next year, so you would get the annual increase + the extra $10k in contribution room
#1 mistake,using it as a savings acc. #2 If u are using it as a trading acc. what can i say ,not the brightest bulb out there.Just invest it and forget it,enough said.
Hey, great content!
Can you do a video comparing various banks and online platforms that offer TFSAs and RRSPs ?? Would be really helpful and gather lots of views! 👍👍👍
That day trader sure knew his business. I want him to handle my investments. I don't mind paying the tax.
Heck yeah! Paying taxes on 600K is a good problem to have!
Word😂
@@Kona138 Sweat problem
For the sake of which account to store an emergency fund in, which would be better, a HISA or a HISA ETF?
Good video. Very informative. Subscribed.
Which financial institutions offer the best interest rate returns.
great video. thank u
one ? though. what about if my husband names me as his TFSA successor, but if i die before him, what will happen to his TFSA? and who will get it after he died.
TFSA successor can only be spouse. If he doesn't get one after you and naming the successor of you the successor of his TFSA, it will become inheritance and has to be closed out.
Crypto ETFs are allowed in TFSA
If you have 60k total contribution room from previous years for example and you withdrew 10k from tfsa this year, you still safe to put 50k into it right? Or there is a limit every year how much you can contribute and withdraw in a year total? This part always makes me confused. Or if you don’t withdraw anything can you put 60k all at once? Thank you
Assuming you didn’t contribute anything throughout the year, you can still contribute $60k even after withdrawing $10k.
The withdrawal only affects the contribution room for next year, so you would get the annual increase + the extra $10k in contribution room
@@TwainRyanLee Thank you! That makes sense finally
If I have my wife as the beneficiary, can I still change that to successor holder?
can you deduct the interest you pay on say your HLOC if you use it to put into the TFSA and then invest?
never mind, sounded too good to be true and it is. TFSAs don't count...
Contribution room in TFSA can be regrown by investing in things that earn money, just like you lost in by investing in things that lost money
You can hold crypto ETFs in a TFSA can't you?
Yes
How abut crypto etf?
I lost cash invested in weed stocks, is the loss tax deductible? TFSA Ontario
You can only claim capital loss with non-registered accounts, so you’re not able to with TFSA unfortunately
@ Thanks
@ I’m in the weeds here in Ontario as I haven’t filed my taxes for 5 years
#1 mistake,using it as a savings acc. #2 If u are using it as a trading acc. what can i say ,not the brightest bulb out there.Just invest it and forget it,enough said.
A smart kid, all good points! Just it’s “especially “, not “expecially”!😊
Really?
Not true,u get your spouses TFSA,but only your contribution Rm.
Awesome.
Thanks!
This is Greek to me. I prefer making #1 mistake instead of making #2, 3, 4, 5 and 6 mistakes.