Are you a day trader looking to maximize your taxfree savings? Did you know that Day Trading in your TaxFree Savings Account (TFSA) might not be as taxfree as you thought?

Many investors utilize TFSA to build taxfree assets. However, a recent court case has raised questions about whether a TFSA trust remains exempt from tax if it carries on a business of trading qualified investments. While the Appellant argued it does, the Crown said it does not, resulting in a $600k tax bill for the taxpayer.

In this video, we'll dive deeper into this court case, explaining the situation and providing valuable insights. We'll define day trading and examine the eight criteria CRA uses to evaluate trading behaviour in TFSA accounts. Additionally, we'll compare day trading in TFSA and RRSP accounts so that you can make informed decisions about your investments.

Key Moments In This Video
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00:00 What is a TaxFree Saving account TFSA?
02:40 Stock investing in TFSA account
3:06 Details of the court case
4:35 8 criteria CRA uses to evaluate trading behaviour in TFSA accounts
8:42 Diving deeper into the court case
11:10 Day trading in RRSP vs. TFSA
12:00 Verdict of the court case


Please make sure to speak to a professional that knows your personal situation before making a decision.

If you need to talk to someone on my team, email us at [email protected].



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