Comments on: Tax free saving account (TFSA)

By: StephanJade

StephanJade — Wed, 21 Oct 2009 12:47:15 +0000

Great blog you got here. It would be great to read more about that theme.

By: Andy

Andy — Sat, 20 Dec 2008 00:38:28 +0000

How do I buy funds or stocks from within my tfsa?

By: Larry MacDonald

Larry MacDonald — Wed, 22 Oct 2008 01:23:22 +0000

Arnold
I’m using the TFSA as a short-term saving vehicle, e.g. accumulating the cash to buy a car in 2-5 years. There is a chance when it comesd time to buy the car that the dividend stocks could be down and the capital loss would offset the higher yield. But even for long term saving, they say put income investments inside registered accounts — capital gains and dividends are taxed preferentially so don’t need to be inside a registered plan as much.

By: Arnold Toews

Arnold Toews — Tue, 21 Oct 2008 22:20:15 +0000

When opening a TFSA, why would you not buy a couple of good blue chips that pay in the range of 6% in dividends?
that seems like a much faster way to get ahead then interest at 4% max. And the possibility of capital gains all tax free. this account could be the best tool a young person has to get ahaed.

By: Larry MacDonald

Larry MacDonald — Sun, 19 Oct 2008 22:04:05 +0000

Tony
The news report said they were getting a capital injection from the Dutch central bank, so they should be alright. Anyway, it is my understanding ING Canada is covered by CDIC so even if they went under, the accounts would be refunded by the Canadian government up to $100K.

By: Tony

Tony — Sun, 19 Oct 2008 19:22:27 +0000

I signed up for this but is ING at risk of going under? I heard today they’re having troubles.