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To: tyc:> who wrote (68742)	1/21/2010 8:32:57 PM
From: Claude Cormier	1 Recommendation Read Replies (1) \| Respond to of 78426

Your are right on all counts. TSFA contributions can be postponed to subsequent years. And yes. It should be top priority for everybody.

To: tyc:> who wrote (68742)	1/21/2010 8:38:25 PM
From: Sultan	Read Replies (1) \| Respond to of 78426

I say open ASAP if you have funds in regular accounts.. I did last year, and it was a real good time to pick the bargains.. 150-200% or so return without doing much.. I know few people who turned that 5k into a 10x by being aggressive.. For 2010, I did an online contribution on January 4.. Really, it is a no brainer and just about the only thing I think Harper and company has done that I support without reservation..

To: tyc:> who wrote (68742)	1/21/2010 9:51:48 PM
From: LoneClone	Respond to of 78426

You are correct. I started by putting in $5K last year when I opened my TFSA, but have since pulled out over $5K in profits, so I can add that back in whenever I want as well as the $5K for this year, at least till they change the rules. LC

To: tyc:> who wrote (68742)	1/22/2010 12:43:57 AM
From: marcos	1 Recommendation Read Replies (3) \| Respond to of 78426

TFSA - agree with others, excellent vehicle, should be top priority yes, 5k/yr is a small amount but will add up, especially with the right gains ... i didn't get around to setting one up until last fall, then didn't bother funding it until early november [duh!], very much regret that, quite a few gains could have been sheltered from a margin account ... and it's not only the taxes that saves you from, it's the paperwork Before 1972 in this country, you could simply buy or sell something, you didn't need to keep records if you didn't want to, or submit an account to government at the end of the year ... you buy something, it's yours, you sell it, the money is yours - somehow the government got involved in this? ... and they don't pay you for all that paperwork, you even have to supply the g.d. stamp on the envelope to mail it in ... more and more i try to keep most trading in RRSPs and now TFSAs, longer term holds in margin accts You don't want to be losing money in TFSAs, can't use losses there against anything else ... but we are supposed to be avoiding losses anyway, just puts an extra bite on it Today [thursday still on the edge of the world here] wasn't as harsh as yesterday, with the exception of amz.v which did a standard sell-the-news reaction, most of mine was flat or near-flat ... rg.v even ticked up ... from a low base, and not up by much, but still it was up ... looking for a bright spot in the gloom here -g- One thing, the $rut held up very slightly better than the $spx - stockcharts.com ... which should mean there wasn't that intense a dip in appetite for 'risk', this being the Au/Ag ratio of the broad market ... or maybe it means they just sell the bigger ones first and get to the smaller ones tomorrow, hmmm ... this thing of Obama reining in the banks will likely never be any more than jawboning, but pretty potent noises for a bit - 'OceanaGold shares were down 9c around mid-afternoon in NZ at $2.46, after the price of gold fell overnight to a three-week low of $US1088.30, as US President Barack Obama's plans to limit banks' risk taking raised concerns about diminishing capital flow from banks, which have provided liquidity for gold and commodities investors.' news.smh.com.au

To: tyc:> who wrote (68742)	1/22/2010 11:28:12 AM
From: jealous_monk	Read Replies (1) \| Respond to of 78426

I believe that there is a restriction, that I can't find right now, that states you cannot withdraw funds from an RRSP to fund a TSFA. I'll see if I can find it later. jm

To: tyc:> who wrote (68742)	2/7/2010 10:12:20 AM
From: Rocket Red	Read Replies (2) \| Respond to of 78426

Agree 100%,I think if you missed opening a account last year you can only put in 5k,had you opened an account last year but put no cash in there then you could put 10k in there this year. mine is up over 30 grand so far tax free thats the best part

To: tyc:> who wrote (68742)	2/14/2010 1:34:13 PM
From: roymario	Respond to of 78426

Yes, Tyc, that is true. R.

To: tyc:> who wrote (68742)	2/14/2010 1:45:04 PM
From: roymario	Read Replies (3) \| Respond to of 78426

Tyc, the 2nd part about withdrawing from an RRSP, I am not so sure I agree with you. It will cost you cash in the form of tax. If you have investments in a non registered account that currently attracts tax on profits you might discuss with your agent transferring some of those investments directly into a TSFA account. This saves the extra cash injection. The transfer value will be the market price that day (probably the morning price) (have not done it myself, it may take some paperwork and admin hastle). If one were to do that you may consider a vehicle you still like alot for potential but one that has no gain currently. The reason is, as you transfer the investment into the TSFA, you would need to determine your gain/loss and report it that year on your return. Still I agree with Marcos investments in the TSFA should be high probability gains :O) (let me know those) as losses are of no value for tax purposes. R.