TFSA

BroChochOooo

Ya but it’s in my TFSA

DeLordsCheeps

I have 30,000 in TFSA. Half in the bank at 18% YoY and half in a self-directed trading account with allocations in S&P, Gold, and some speculation stocks. I have ~13,000 in student loan debts (~2% interest). I never got a job in my field of study. It has been 7.5 years since the loan and I've paid off about 2000 of the principal (15k). Repayment assistance let's me defer payments and pays a small amount every 3 months. Monthly income is about 2600 per month, 10 month contract. Is it better to pay off the loan or roll in the YoY in TFSA until the repayment assistance and loan terms run out? I have made about $4000 ROI since May (18% bank TFSA and 14% ish self directed).

ImamTrump

Sp500 index as usual likely 7k over the course of a year as that’s what the annual TFSA allocation comes out to. Maybe a mortgage chunk payment of 5k-7k if bonuses and tax returns come as hoped.

Nepsevh

Gambling in your TFSA is wild

dbasea

Yes, you can DIY: open RRSP/TFSA/FHSA at Wealthsimple and request a direct transfer (ask about in‑kind and any deferred sales charges), choose one low‑cost asset‑allocation ETF like XEQT/VEQT/VGRO/VBAL that matches your risk, automate contributions and rebalance yearly, and keep the friendship separate from the fees; more information at mr-profit com.

tanukiparts

At some point you'll probably think to yourself "Since I have enough cash, I should move the funds into my TFSA and do covered calls tax free!" If you intend to do this in your TFSA (the CC's), bear in mind that CRA hasn't specifically detailed what constitutes "carrying on a business" as it relates to TFSA's. I would encourage you to err on the side of caution and sell longer-dated CC's, so that you can demonstrate you're using the TFSA as an investment vehicle and not trying to generate weekly (or daily) revenue. As far as I know, this hasn't been challenged in court, but CRA has carte blanche to do whatever they want...

dbasea

Sorry for the rough years, nice rebuild; given the overlap, consider consolidating to one CAD all-in-one global equity ETF plus a CAD bond/cash sleeve sized to your risk tolerance (e.g., 70/30), cap single stocks/crypto to 5–10%, keep 6–12 months cash, max TFSA/RRSP, rebalance quarterly, focus on total return (use a dividend tilt only if needed), and write an IPS with a trade journal to stay disciplined.

optivest304

Probably trading from his TFSA too 😂

djgrinn

You're doing far better than most people! $800k in TFSA, $200k RRSP, 3 cash-flowing rentals, and heavy index exposure is an excellent position. Many would love to be "behind" like you. If you're still feeling unsatisfied, maybe reflect on what "enough" looks like for you. Financial goals without purpose often leave us feeling empty regardless of the number. Keep doing what clearly works - systematic investing in proven assets.

davidmiller1970

I'd go with IBKR for US stocks in Alberta, especially for your TFSA. Wealthsimple charges 1.5% currency conversion fees each way which really adds up for US securities. IBKR has much lower forex fees (around 0.002%), better execution, and more investment options. Tax reporting is straightforward with both platforms, but IBKR gives you more detailed statements. The interface is less user-friendly than Wealthsimple, but the cost savings are significant over time. Fellow Albertan here - our provincial tax integration with either platform works fine!

Obligation_Still

But you're talking about the past vs the present. Assuming you have some sort of investment experience a Tax Accountant is great but their job is not to give you specific investments or tickers, their job is to mitigate your tax hit. So yes they can say invest more in RRSP vs TFSA (canadian) 401K vs Roth IRA (USA) if you're dealing with taxable accounts and draw downs the accountant can advise movement and ways to shelter from taxes which are all past events and some future. But an FA is intended to help with your future planning and where your money will perform the best. I think the best thing is certainly to have both but I wouldn't suggest, especially to new investors, that having just an accountant is going to sort you out.

DopeBook

Universal healthcare and TFSA trading accounts making those withdrawals tax free 🇨🇦

Kindly-Ad5456

Hey everyone, I'm 18 years old, and I just made my first $1000 deposit into my new Wealthsimple account. I'll be going to university soon, and my goal is to have a decent amount of extra cash compounded through investments; however, I am just beginning, and I'm trying to avoid as many mistakes as I can. Starting tomorrow when the market opens, I'm thinking about putting about 80% into a Canadian S&P ETF, specifically ZSP, since it seems like a good starting point from what I've seen so far. I was also thinking about putting the remaining 20% into a slightly more volatile choice, such as the HXQ (Canadian Nasdaq ETF), but I don't know if it's a better option than just fully investing in the S&P. For those of you with more experience: * What would you recommend a beginner focus on first? * Is ZSP a good starting point for a moderately long-term TFSA? * What mistakes should I avoid early on? * Any tips on building a consistent investing routine with small contributions?

anonymous_sheep1

I have a May METU call in TFSA!

Got_Blues

X/V/Z EQT provides a more diversified portfolio. ( you may want to check out Canadian Couch Potato. That being said, without understanding you goal/timing for this money ( e.g. house in 4 years/education) An all equity portfolio may or may not be right for you. You should also look at what a First Home Savings Account (FHSA) can do for you if you are looking to buy a house in the future. r/CanadianInvestor/ can also provide a more Canadian perspective on investing and investing accounts. ( TFSA, RRSP, FHSA)

BullyMog

Do it in your TFSA coward!

SeniorVicePrez

You still have more money than most do in Toronto at your age believe it or not (not including home equity). Get on LinkedIn and start applying to anything and everything to get your foot in the door. Recommendation is to stop now or loose it all and once you start working again - take a % you feel comfortable with to gamble like this. Please tell me you didn't loose a million from your TFSA... cuz that's more like $2M...

Gorgenapper

Also, you don't get back any losses in the TFSA as additional contribution room for next year, unlike withdrawals. People should be a hell of a lot more careful with their TFSA, the strongest tool for building wealth that even the US version is like a Temu knock off compared to ours.

Coderboy55

Honestly. You’re right! TFSA plays start tomorrow

bullairbull

With TFSA there is a caveat, you cannot day trade in that account otherwise the CRA can (and likely will) treat any gains as an income. I think there was a case like that few years back.

TeachAdventurous69

damn bruh I thought I was cooked blowin up my TFSA god speed

Charomid

Bruh, what are you doing?! You’re gambling in your TFSA and FHSA?! That contribution room is gone forever… the best thing about this is that you still have 130k and you’re only 31! Keep gambling to try and make it back! I’m kidding, please don’t!

vermillionflour

> For example, in a TFSA, if you make $1 million in profit, then you get to keep that $1 million 100% tax-free. **USUALLY**. The CRA has gone after people for using their TFSA as a day-trading account because you aren't supposed to do that. The general threshold is something like a couple transactions a month averaged over the year, if you do more than that and it's in high risk stocks/meme stocks, they take a dim view of that activity and penalties start rolling. In OPs case it's fine because all they did was lose big, but if it was the opposite, the CRA'd be sharpening their knives.

Notrandomperson89

Dude just blew his entire registered contribution room. Luckily the government gives contribution room of a few thousand every year in the TFSA but the CRA is not giving a shit about all the money he blew.

aar_640

I've been nurturing that TFSA and FHSA for years to bring it to where it is now. I'd just end it all if I lost it in a day.

Notrandomperson89

Not necessarily - a registered account itself is just a tax-sheltered account that the CRA gives us. TFSA (Tax Free Savings Account) is the most similar to the Roth IRA. We also have something called the RRSP (Registered Retirement Savings Plan) which is most similar to the traditional IRA. The ones I can name off the top of my head are: \- Tax Free Savings Account (Starting contribution room is the same for everyone, but dependent on your age) \- Registered Retirement Savings Plan (Contribution room is dependent on your income) \- Registered Education Savings Plan (For your children's post-secondary education) \- First-Home Savings Plan

Notrandomperson89

Government does not give a shit what you do on TFSA - they just don't want you to make too many trades because they think you're a day trader atp

Crater_Animator

Did.... You do this in your TFSA?!....

WondersN

Account: TFSA 😂 You regard truly belong here.

Gamegeddon

They don’t care about small fry accounts daytrading . If you have like >100k in your TFSA and are making frequent withdrawals then you’ll probably be flagged

InVinoVeritas888

I thought you can’t trade options or run margin on a TFSA

Cell-Breaker

imo you can still make a comeback but only if you trust me, a random retard on the internet, then you’d need to change your strategy a bit: 1) Only bet 5-10% of your portfolio at any given moment. Or an amount you’d be comfortable completely losing. Rest should be in safe haven assets like gold. 2) If you still want to do short term options then pick a volatile stock with high volume & solid fundamentals (like NVDA) and never hold an option for longer than a few minutes. Definitely not overnight because theta fucks and random news events fuck harder. You also can’t operate options after hours. 3) Don’t let Wealthsimple’s shitty interface fuck you, make use of live-updating candlesticks (like on TradingView) and indicators like RSI & MACD to guide you on when to buy and sell calls/puts. Look for RSI & MACD reversals. Doing ultra short-term options helps narrow it down to pure technicals & psychology. 4) The moment the candlestick isn’t moving in the direction you thought it would based on technical indicators, abort the mission immediately and sell that shit, esp if it’s down -20% or something. 5) Do trading in your TFSA because you’re down so much already the CRA won’t care about your TFSA trading because you didn’t make money to begin with. What are they gonna do? Tax your losses? You TFSA contribution room is fucked already so might as well trade in it for a chance at recovery.

gaflar

Playing short-term options in a TFSA is another level of regarded.

arcticpoppy

For the outsiders: a TFSA is Canadian equivalent of a Roth EXCEPT you can withdraw earnings from a TFSA at any point tax free. So bro basically won the lottery (yeah we don’t know the time frame but likely it was a hit on a high risk move), could have pivoted to a safe index fund within the TFSA paying NO TAX and taking out whatever they wanted or…. the alternative.

medeiv

OP is Canadian so a registered account in this context means a trading account that is registered with the Canada Revenue Agency (CRA) to provide tax advantages, i.e., the government provides special tax treatment if you hold your investments inside these accounts. A TFSA (Tax-Free Savings Account) is one such registered account, for example. There are others too (e.g., FHSA, RRSP), just Google them. But essentially, the reason why it’s “bad” to trade options in a registered account is because any losses generally can’t be counted as capital losses to offset taxes that you owe. For example, in a TFSA, if you make $1 million in profit, then you get to keep that $1 million 100% tax-free. The downside is that if you also lose money, you can’t use those capital losses to offset taxes that you owe.

4everinvesting

You had 700k in TFSA, you could have just chilled.

mdo2222

There was a reporter a week ago who posted looking to talk to Canadians that had 100k in their TFSA, you should totally email

WhoRuleTheWorld

https://preview.redd.it/bcr6opkb3q2g1.jpeg?width=1320&format=pjpg&auto=webp&s=56a0bad3c94b2bb8c0161e3a4cb0fe59987d8ff0 Here’s a screenshot with all my accounts. My FHSA is at zero now because I went all in NVDA calls expiring today. TFSA down 66%. RRSP still okay

thenoblenacho

Wow thanks for the information homie. Thats really interesting stuff. I currently have $5k in my TFSA so maybe ill wait a minute or three before considering this seriously 😅

BullyMog

AND in the TFSA. Bravo.

i-p-excellence

Questrade…they let you use your TFSA as collateral for margin account. Was in the process of leaving them due to high options commissions but they lowered them to $1/contract

DTMD422

Nice TD direct investing view 😂 Don’t tell me this is in your TFSA?

MutaliskGluon

I am aware. He knew people that worked at CRA and literally asked them to learn the rules. Then he quit his job from BoC, came to work at my company, and started trading in his TFSA lol

gamjatang111

Bank of Canada is not the CRA, completely different organizations with different mandates [How bad is it if I buy and sell the same stock in the same day in a TFSA account? I know its not allowed to day trade, but where is the line drawn for how often you can buy/sell same day? : r/PersonalFinanceCanada](https://www.reddit.com/r/PersonalFinanceCanada/comments/1jf6s7e/how_bad_is_it_if_i_buy_and_sell_the_same_stock_in/) well here is a more recent one . Well they dont check everyone, so some accounts just flies under the radar

gamjatang111

[The CRA is actively looking for people who day trade investments in their TFSAs : r/PersonalFinanceCanada](https://www.reddit.com/r/PersonalFinanceCanada/comments/113xug9/the_cra_is_actively_looking_for_people_who_day/) [What does th CRA consider day trading in a TFSA? I want to make sure I'm not getting myself into trouble. : r/PersonalFinanceCanada](https://www.reddit.com/r/PersonalFinanceCanada/comments/7sbnvm/what_does_th_cra_consider_day_trading_in_a_tfsa_i/) I think you just got lucky

MutaliskGluon

Nope. All my trading I mention is in a TFSA that's worth over 450k and even with 2 separate years of >100% returns nothing has happened. If you do this as a source of income or you work in the financial industry it gets flaged. If your just a degenerate dummy like me they don't care

gamjatang111

i thought active trading in TFSA gets you a call from the CRA

HotEmu463

After never buying shitcoin, I decided to dedicate 5% of my TFSA to shitcoin. I bought at 30 Oct, you can blame it all happening on me :D

BiggieMoe01

140 shares in the TFSA and 10 shares in the FHSA 😏

BullyMog

Put it in your TFSA coward

Arathen342

No worries, this is a better question to ask haha. Everyone does. Canada has ‘registered’ accounts to help save for retirement (RRSP), buying your first house (FHSA), saving for kids education (RESP), and general use (TFSA). But they have limits on how much you can put into them. The general rule of thumb is pick the one that matches your goal for the money. None of the accounts have taxation on the investments themselves. Canadians should only use the ‘non-registered’ (taxable) account once you have no room left to contribute to the relevant accounts. For context, I’m a CFP. It seems like you have some wealth and would benefit from professional advice. Find yourself an advisor when you get to Canada to walk you through this stuff.

m1nhuh

Ohh so this is definitely going to change. I can't actually remember if non residents can access TFSA, RRSP, etc.  I thought you were already living in Ontario and were a Canadian citizen haha.

Arathen342

Last question I’ll answer, just start googling stuff so you don’t get wrong answers from half the people in here. If you’re 18+, have a valid SIN number, and are a Canadian resident you can open a Tax Free Savings Account (TFSA). Until then, you will use a non-registered (taxable in the way I described) account.

PaperHandsTheDip

You can also buy IBIT & other crypto ETFs which are not exposed to the same risks MSTR is. MSTR is essentially leveraging debt to buy crypto. If it goes down you're cooked. Just buy IBIT if you want crypto exposure in your TFSA

SobekInDisguise

Depends on your situation, doesn't it? Like for me, my TFSA is already maxed out. I need to wait until January for contribution room to increase. Otherwise yeah I'd love to put more money in right now but if I do it'll be in a fully taxable account so I might as well wait.

BullyMog

Do it in your TFSA coward

TopDate3835

yes I was thinking that, and also I think for TFSA you can't sell puts but selling an ITM CC is another way of getting at it!

WolverineTamer

You can also trade in your TFSA as long as you aren’t making consistent profits from the trades. Question is : is this person using their TFSA as a day trading business to evade taxes. They will only investigate if you make a ton very quickly likely like 50k to 250k in 3 months sort of thing.

BullyMog

Common misconception. You can trade options in your TFSA you just can’t day trade

BullyMog

Put it in your TFSA, coward.

Visible-Locksmith-97

If you buy back a stock or option within 30 days to your capital loss, you trigger a superficial loss. Hopefully, you cycled your trades. Also, nice TFSA amount. You're in like the top 10% of all registered accounts. Just don't option trade in it. The CRA can tax you on trades they disapprove, specifically in tax shelter accounts.

endo489

TFSA?

widerdog

?? I've done work in TFSA on Questrade since 2023 in options and CRA hasn't done a single thing

Kcirnek_

You can do options in TFSA, even RRSP. Just not excessive day trading. LEAPS are fine.

Nervous_Estate1253

CRA says it depends on case by case basis. I think CRA attacks those TFSA accounts which made money and then find something to say that it was day trading or doesn't fall with TFSA guidelines and send you the tax bill. Goodluck fighting with CRA in tax Court. I don't do any of this in my TFSA, only in RRSP or in Margin account to avoid any surprises from our beloved CRA. 

Zero-PE

They don't like people earning a living day-trading tax free, and the intent of the TFSA is to use it for investments and not gambling, but that's about all you'll get from the CRA for what not to do. CRA website does say LEAPS are considered the same as investing in stocks, especially if you hold to expiry. Also, options are a respectable way to hedge investments. Based on that reading, holding a handful of LEAPS through one or two quarters should be fine, certainly if you started with it being a small portion of your standard investment port.

AlouettePirouette

They take many factors into consideration when judging to see if you’re “trading” in your TFSA. One of which is how long you’ve had the instrument and how often you make an order. I’ve traded options in my TFSA, just not as successfully as you.

AngryGranny1992

My understanding is that you can't do options in TFSA. It's considered trading and the government will come rob me of even more of the gains.

Kcirnek_

Any reason why you went down this path with a non-reg versus TFSA? Your tax hit is going to suck next year.

AngryGranny1992

Oh my bad, i misread it. I actually have some VOO, XEQT and SPY in my TFSA. That's where i buy and hold stocks.

ThisIsDystopia

It's a specific tax free account in Canada (TFSA) that you are only supposed to do "conventional trading " with, no excessive day trading or margin use. Not from there but run into information about it when working.

wirez62

You can get audited by CRA and have to pay all the gains as capital gains because the TFSA is for holding, not active trading. You can literally google what the CRA defines as active trading. You can ignore it for small time gains but they literally spell out what they consider active trading and I can absolutely guarantee you that trading options is active trading and should only be done in unregistered accounts.

PeteyPab305

You could use auto-investment platforms that build balanced portfolios for you. Charles Schwab has options like Intelligent Portfolios with preset themes such as growth, dividend income, or breakthrough innovation. You pick the strategy or sectors you want, and it automatically allocates and rebalances your capital, basically a custom index that doesn’t require daily management. Most brokers offer setups similar to Wealthsimple, Fidelity Go, or Betterment, where you can adjust risk and sector weightings. These aren’t about stock picking but diversification through ETFs, which tends to smooth out volatility. If day trading was stressful, this approach fits better. You can automate deposits, avoid timing the market, and still earn steady long-term returns. In Canada, look at Wealthsimple Invest or Questrade’s QuestWealth Portfolios, low-fee, diversified, and tax-efficient when used inside a TFSA. It’s the same compounding your dad got, but without the stress of constant decisions.

Noble_Bastard

I'm Canadian, that total includes both tax sheltered (TFSA - Tax Free Savings Account, RRSP - Registered Retirement Savings Plan), and non-registered gains. It's all through longer term holdings. I invest in very few companies (own four currently). Between 2024-2025 I had two buyouts, and two that that returned over 5 times (each).

tarzanjesus09

So the best part about taking a loss in you TFSA, is that it doesn’t free up contribution space. Ie. if you add 7k, and then lose 7k, you do not get to put in 14k the next year. You only get contribution room back on withdrawals.

ThTruthIsOutThere

There's no taxes. TFSA and registered accounts.

ThTruthIsOutThere

There's no taxes. TFSA and registered accounts.

MaxDragonMan

I was just choosing a point post-Santa Rally, which is typically December 26th - Jan 2nd. Additionally, I typically make my TFSA contribution as early as I can in January (and I hope to repeat that this year) which means I'm putting in more money and paying very close attention again. But let's be real, I'm going to be here every day.

barbarkbarkov

You remind me of me 5 years ago a bit. I made a bunch of money with GME thought I was a god and then put all those winnings into random stocks and watched the tickers 24/7 and it had a huge negative impact of my life. Ended up losing twice as much as I made. Went away for a few years and now I’m back but I only use “extra” money. Right now my account is funded from fantasy hockey winnings, gig money, and some birthday funds. Not a cent from my paycheck goes to this gambling, that goes to my TFSA long term. If a 10% dip haa you shaking in your boots you ain’t seen nothing yet. Trust me. Winning less is way better than losing more.

barbarkbarkov

You remind me of me 5 years ago a bit. I made a bunch of money with GME thought I was a god and then put all those winnings into random stocks and watched the tickers 24/7 and it had a huge negative impact of my life. Ended up losing twice as much as I made. Went away for a few years and now I’m back but I only use “extra” money. Right now my account is funded from fantasy hockey winnings, gig money, and some birthday funds. Not a cent from my paycheck goes to this gambling, that goes to my TFSA long term. If a 10% dip haa you shaking in your boots you ain’t seen nothing yet. Trust me. Winning less is way better than losing more.

Ill-Operation-2372

More TFSA retardium. My favourite 

MentalAdversity

Inside your TFSA too https://preview.redd.it/fgces9ygtozf1.png?width=1024&format=png&auto=webp&s=0bac55f41e0253cdd9fd26f05f745329168f0090

babylonkin

Can't do active trading in TFSA. RRSP is another thing though

Bradleyy13

If he did it in a TFSA account it would be $0 tax. Can’t tell from the screenshot what kind of account tho

GrouchyRoad777

If only it was in your TFSA... but congrats though! Still holding 190 calls expiring in June

Delly2times

TFSA in canada, tax free

Ill-Operation-2372

No, it’s pretty stupid. You shouldn’t be trading with such volatility within your TFSA. You would not only be losing money, but also valuable contribution room that you will never get back. You should be doing this in a non-registered account.

3rd_street_saints

In your TFSA no less

Deep-Explanation1935

You have $1m in your TFSA?

LelainaP

Looking for a review/advice for my soon-to-be portfolio. Just starting to self-direct invest on Wealthsimple. 45 years old, Canadian, want to retire in 10-15 years (loosely - will still freelance PT,  just want out of the corporate machine). I have $100k to invest now,  and will have double that in the relatively near future due to an inheritance. I also intend to invest $2k a month of my income for as long as this ride lasts. Cost of living is $4k/month, and I have a six month emergency fund sitting in my savings account at my bank. No debt, no plans to buy a home, no kids. I have moderate to high risk tolerance, just also trying to be a little cautious because my window to invest is good, but not that of a 20 year old. The breakdown: - 60% VOO (S&P US) - 20% XEQT (Diversification of markets) - 10% SCHD (defense likely to grow) - 5% AVUV (small cap) - 5% GLTR (precious metals because the world is on fire) I intend to invest fully in my RRSP until I max it out. After that, I'll transfer my almost maxed out TFSA from the bank and swap from VOO to VFV and possibly XEQT to XGRO. Then I'm in non sheltered accounts. Would also like to put my 6 mo emergency fund into a HYSA but I don't see that as an option on Wealthsimple - maybe it's a non sheltered etf like CASH? Thank you!

Available_Force_2807

What are you talking about? Selling calls against your LEAPs is absolutely allowed and I do it all the time in IBKR. I think what you meant was you can do this specific transaction in a TFSA but you can sure as heck do it in an non registered/investing account.

Blingbike97

bro is gambling in TFSA

MentalAdversity

In your TFSA too 

Summermelon

You can trade options jn TFSA? Isn't that considered active trading and you tax losing tax free status

ElectroRush

Just curious, does anyone buy penny stocks with TFSA?

exyank

Great question. You asked will stocks go down soon. Yes they will. If you were to ask, will they go up? The answer is also yes. 50 years ago when I started I had the same questions. My bank manager said, you are asking the wrong questions. The correct question is will the index be higher 50 years from now than it is today. Yes, virtual guaranteed. So invest now, you will have more when you turn 60 then you do now. Put some (5-10%) from each paycheque. Set the stock to drip, let the interest/dividends buy more. Set aside a little extra in cash to buy more when there is a “crash”. This plan will not make you rich. It will make you secure in your old age. I had a good job, so I gambled a bit. Banks offer cheap money at RRSP time so I borrowed to max out my RRSP and later my TFSA. The tax rebate helped reduce the loan. This gave me a comfortable retirement. If you want more - to get rich - in my opinion - it is what you invest in, and not when.

Aroh

Ya majority of my portfolio is in VFV in my TFSA but doing this morning scalping I think will be how I supplement. Do you know of any reddit communities or any online communities that share info on this stuff?

MaxDragonMan

Holding mostly. Earlier this year I decided CSU, TOI, LMN, and BN would make up a bulk of the 'safe' side of my portfolio's equities So I'd rebalance into them as is appropriate with next years' contributions. Otherwise I'm pretty happy with what proportion of my portfolio is US big tech split between NVDA, AMD, GOOGL, and MSFT and I probably won't be adding to any of those positions at the moment. (They're already quite dominant.) Aside from that I'd just be shifting my US big tech holdings into my Canadian TFSA/FHSAs for tax purposes, then scoping out whatever I'll be buying next year. I may increase my RKLB and RDDT stake when I have some more cash for the 'high risk' side of my portfolio's equities. I also have a large part of my portfolio, including some margin, invested in a pharma company I really believe in. I am hoping it will really take-off sometime next year, though the more I look at the company's time frame before *actually* getting to market the more I think the opportunity cost at present suggests I should sell out, do something more productive with the cash, then buy back in a year or so from now.

AlwaysSilencedTruth

TFSA + options = pure retardation

Sure-Needleworker581

It doesn't tell you anywhere. I just had a balance in my TFSA that would meet the criteria so on the website, I clicked Management->Option Level->Select Margin account -> select Level 4 and it was done the next day.