TFSA

four_twenty_4_20

Just buy MSOS in the same account. Or atleast move it into a better LP. Your TFSA space is already effectively lost, move on and work on getting it back up.

ChronicMasterBlazer

I hold some GTI but very small in comparison. I’m not going to sell at a loss because it’s in my TFSA and I can’t claim as a loss on taxes and I lose all that contribution room so alas here I wait. I do think we join in on the hype train still, but we’ll see. I feel a big move coming in TLRY soon tbh

zeldagold

No issues transferring out a TFSA account a few months ago. Took a week longer than I wanted but that's it.

Mercadere

Do you really think there is anyone left at CRA to check your TFSA after the massive layoffs they did?

BullyMog

FWIW, I had zero issues moving my kids RESP, my TFSA, and my wifes TFSA from QT to WS.

TheBreadMan10

Sorry - misinterpreted your question. I shuffled some cash into TFSA / FHSA. I’m only just getting back into options (and way deeper than before) so learning about leaps in tax sheltered which I just did for MU, GOOGL and MSFT. In my margin I’m taking it easy mostly spy short put , long call. Bought meta and more MU for October hoping to cash before my Japan trip if contracts are good once summer beat down over

BullyMog

Hahaha in the TFSA too. Just like god intended.

neal_73

Yes you are. Playing puts when it is already in an uptrend. And also in TFSA. You truly belong here

DLGNT_YT

Is that 7.5k not cumulative throughout your life? For example it starts as 7.5k at 18, but by 20 if you still haven’t put anything in then it would be up to $22.5k of contribution room? Not sure how it works in the US but it’s like that in Canada for a TFSA. And with OP saying 99.9% of his net worth is in that stock then I would assume he hasn’t used a dollar of his contribution room

metallhd

Well RRSP and TFSA things maybe . . . . index fund and forget about polymarket and 6/49

BullyMog

Yes my TFSA is down 29%

BullyMog

Wait so everybody isn’t losing money in their TFSA on WS? Fuck.

SomeBluntCanuck

Wait. You can actively trade that many gains in a TFSA? TIL. Update us how tax season goes.

l0gicgate

I sell calls bi-weekly in my TFSA, have done that for almost a decade now. Everything is gucci gang.

HMI115_GIGACHAD

How frequently are you swinging the call trades in your TFSA? are you worried about the CRA?

anon0937

If the government looks into my TFSA, they'll see some day-trade activity of buying and selling 0 dte options and losing money, followed by a year-long period of nothing, and then to my current period of buying and holding with some very healthy profits. Knowing the government, they'll try to say theres day trading in my account and therefore I owe them some of my gains.

Hawaiianyeti69

Ya this guy could get fucked by the long dick of the CRA for trading in a TFSA

DrPuzzle

So in Canada (I think it works similarly in the states doesn't it?) we have what's called a tax-free savings account (you'll often hear it referred to as a TFSA) in which you get contribution room every year and you can essentially put money into that account and invest it into stocks etc (there's a few different things you can do with the account) and whatever is done within that account is tax-free meaning you are not taxed on profits and such Now there are limitations for example if the government sees you day trading in that account you can be taxed and most likely will be. So there's certain things that go along with it but that's about the gist of it If I'm missing something or incorrect someone can correct me but yeah

DrPuzzle

So in Canada (I think it works similarly in the states doesn't it?) we have what's called a tax-free savings account (you'll often hear it referred to as a TFSA) in which you get contribution room every year and you can essentially put money into that account and invest it into stocks etc (there's a few different things you can do with the account) and whatever is done within that account is tax-free meaning you are not taxed on profits and such Now there are limitations for example if the government sees you day trading in that account you can be taxed and most likely will be. So there's certain things that go along with it but that's about the gist of it If I'm missing something or incorrect someone can correct me but yeah

yycmwd

And none of it in your TFSA. Canada revenue agency thanks you for your service.

Much-Management9823

Assuming it’s the same as a TFSA in Canada, the CRA (leaf IRS) actually reports on returns each year, sharing what % of the populace falls under various brackets on their gains. I won’t do an ounce more effort and confirm if the same practice exists in bongland but it would track, they’re just Canada with worse teeth and less Indians

Wallahi-broski

With a nice 3.5m tax bill once his TFSA stops being tax-free.

MrNo_Balls

isn't a TFSA the same as a roth IRA? why would he be taxes?

Traditional-Emu-6620

Other redditors told me that the CRA will be angry at me for trading short term options in a TFSA. I might have to pay tax.

IcarusOnReddit

I am in Canada and have a taxed account an RSP (similar to a 401k), and a TFSA (similar, but better than a Roth). Those returns are negative, 22% and 58% for me respectively. Not everyone is speaking from shitty TikTok investment guru culture.

avidaskit

Just a tip dude, the CRA is gonna be pissed off that you were trading short term options in a TFSA. You technically are considered a business with your frequency of trading and you might have to pay 50% of that to capital gains at some point. I can't say for sure what will happen, you might get away with it but just letting you know that it is technically against their rules.

Long_Abrocoma_8480

Starting with a simple tax-free savings account (TFSA) really helped me keep my money growing without worrying about taxes. Have you thought about how you might want to balance short-term goals like moving out with longer-term savings?

Retaining-Wall

I got my first profit sharing bonus at my 1.5 y-o job (wasn't eligible last year) and I'm hoping the chunk of it I put into my TFSA I can do some nice things. We'll see.

Dull_Preparation7761

Since when can you trade on a TFSA😂

Agitated-Ad-3995

switch to a taxed account. I don't think you're supposed to trade options actively in a TFSA

hinault81

I keep about 1.5 years of expenses in short term treasuries. The rest broad market indexes, and a handful of stocks (canadian banks, brk). I think when the amounts were smaller, being invested 100% (in the early years I barely had an emergency fund) seemed a lot more attractive because every bit extra invested helps you reach your goal sooner. But covid was a bit of a wake up call for me. I knew some people who lost their jobs, or long times off (some good gov't jobs that seemed as secure as anything). That didn't happen to my spouse or I, but if you needed access to your money (which is highly accessible to us in Canada through TFSA or even RRSP, there's no age requirement for taking money out), you wouldn't want to be selling something you bought for $1 at $0.70 to pay your bills. And as our investments have grown, a lot, that bit of drag doesn't make a ton of difference. And allows us to just not really focus on the investments or feel the need to time. Mainly index, some stock in good companies, just try to ignore things for the most part. And just do our every paycheque/2 week buy.

montyman185

Put it in an ETF, don't touch it, and look like someone who got lucky once, and hopefully they'll not come at you for anything. They really don't like people abusing their TFSA so a noticeable pattern of day trading or large swings from glorified gambling is something they come down on hard, but if you just get lucky once they should hopefully not get on you about it. 

InsignificantOP

In a TFSA ?? Lool cra might come after you for active trading

shan_bhai

CRA is coming for your taxes for using TFSA for trading..

Exuberant-Investor

You're not allowed to trade options in a TFSA.

Temporary_Path5147

TFSA and 0DTE....CRA is rubbing their hands to fist your bum soon

rarflye

In your TFSA huh? Get ready for the possibility of losing that status on that account

cchackal

Bro doing this in his TFSA lol. Let us know if they say anything.

CripplinglyDepressed

This person is Canadian and it's a TFSA (tax free savings accounts). He can pull it all out and pay no tax. I think it's similar to what the US calls a Roth ITA, but not 100% sure what that actually is.

coreyneil

You’ll be targeted exactly because this is in a TFSA and not unregistered.

dj_destroyer

What app do you trade with? Also, are you not worried this will be considered day trading and you'll get hit with taxes? TFSA doesn't allow day trading

coreyneil

That was my first WTF. Why are you doing this in TFSA. 

WPG_Strong

they’re going to turn your TFSA into a taxable account after this for sure

Capable_Constant1085

why does WS allow people to buy options in their TFSA?

BJ4Tendies

Day trading 0dte in a TFSA will get you quite the tax bill. Good on you for the trades tho!

Gorgenapper

Better stick it into VFV or VEQT or some shit, and then expect to get a letter or call. If you don't, then count yourself lucky and never do it again in the TFSA or RRSP for that matter. CRA says that options trading is acceptable, but only with respect to risk-limited strategies (ie. no naked options) and no high frequency trades.

face_611

And the tax bill hit he gets for day trading in a TFSA

OhYeah-SlimJim

You option traded in your TFSA? Truly regarded behaviour. Now the CRA will track you down.

kluuttzz11

lmao exactly what I thought after seeing the TFSA.. dear god 💀

zefmdf

When people in Canadian stock subs ask what's enough trading in your TFSA to actually get looked into... It's this. This is too much.

DarkR124

You’re day trading and doing 0dtes (or close to it) in your TFSA? Enjoy that tax bill if CRA finds out.

UninvestedCuriosity

Throw it into a TFSA and put it into XEI or XEQT. Set dividends to reinvest and forget about it for 15 years.

RefrigeratedSocks

You can do either. If you have the limit and don’t plan on withdrawing the money do it in rrsp. Just know you won’t be able to use any losses and it might not be ideal to gamble your retirement. If you have maxed rrsp and also have investments in non registered, do it in non registered (all investment income in an rrsp is full rate income when withdrawn, you don’t get the 50% cap gain savings. So it’s better to keep your dividend stocks there and your CG stocks outside) If you don’t own a house, go open a FHSA and max that. Never touch RRSP before FHSA and TFSA is maxed.

masala_chaii

In TFSA? Pray that they don't tax you for this and that you dont lose your TFSA

Kapps

Don’t worry. His TFSA likely won’t be tax free for long with the way he’s using it.

shredrick123

Doing this in your TFSA is crazy

MohWilliams

Playing with options on your TFSA account is a slippery slope

cptstubing16

Pretty sure all my "gains" are just me adding money to my TFSA.

Switchclicka

The worst part is after you lose it all again you’ll owe the CRA a massive capital gains bill for day trading in your TFSA

Switchclicka

Bro trading like that in your TFSA is going to get the CRA to pay taxes on those gains.

GaBBrr

Doing all this in a TFSA...yikes man.

ayy_md

This is his TFSA, he should keep the 70k in index funds and gamble where the losses aren't tax free XD

endo489

Yeah, and that's only if you stopped investing. Imagine if you maxed out TFSA, RRSP every year

RefrigeratedSocks

Yo I’m an accountant in Canada. Do not fucking trade options like this in your TFSA regard. If CRA comes looking, they will likely call this day trading and it will become full rate taxable income.

ConcealingFate

TFSA is meant to hold long term positions. I hope you don't get audited but it's entirely possible they'll come after you as if this was an unregistered account.

shirosith

This will alert TFSA and you will most likely have to pay your taxes.

PianoNo1149

Bruh i didn’t even know we can do options in TFSA

Traditional-Emu-6620

I'm Canadian so it would be the CRA. Hopefully they leave me alone because its in a TFSA but I've heard they sometimes don't if you do a lot of options trading inside a TFSA.

jsut_

You know that doing this in a TFSA is likely going to result in the CRA saying it’s all taxable, right?

LeonDraisaitI

Love to see the TFSA gambol haha

FlippedPizza

In TFSA too lol, CRA be licking their chops.

fez-of-the-world

Day trading is not allowed in a TFSA.

Dependent_Code7796

None, if done properly. It’s in a TFSA- tax free savings account.

NoSquash4930

Yes it's true - If you lose money from options trading in your TFSA you can not claim the capital losses on tax return. Switch to a non-registered account and make it a USD account so you're not paying the currency conversion on every transaction when trading US stocks.

Peripheral_Ghosts

Be careful with what you’re doing inside your TFSA account. It’s meant for buying stock. If you trade too much they will tax you. If you are doing options trading they are gonna get you. Buying and selling occasionally is seen as fine. It’s a tax free savings account for you to invest your money. Not tax free options trading account. Be careful.

Beginning-Maximum115

In the TFSA too! Congrats on the big win

Rosmoss

This is a tax free savings account (TFSA). There’s no 30% and no Uncle Sam in this case.

promonalg

You should be careful of CRA.. TFSA is not for this type of investment I don't think

Yolo_Swaggins_Yeet

In a TFSA too god damn you mad lad

poopy_wizard132

This in a TFSA?

Retaining-Wall

The one thing I do know is you want to be careful day trading inside your TFSA because CRA can come after you for misusing the account.

Weak-Pomegranate-435

All accounts combined. But margin leverage was in Non-Reg account with Margin borrowed against TFSA.

BullyMog

Dang thats a big port on Wealthsimple! TFSA?

thenuttyhazlenut

I was also reminded of this lesson. I sold a bunch in my TFSA on Friday, and paid the price. Still matching the SPY, but could have been better.

eightpluseight

Is your cash account a registered account, like an RRSP or a TFSA? If so, that's why.

PlayerPlayer69

On paper, you do. In reality, you don’t. Think it through. You put $10k into your TFSA. You grow it to $13K. You withdrawal $13k. Next tax year, you get to put in $13k + $7k for next year’s limit, and you do that. Total account value comes out to $20k. Now what if I don’t withdrawal? You put $10k into your TFSA. You grow it to $13K. You don’t withdrawal it. Next tax year, you get to put in $7k for next year’s limit, so you do that. Total account value comes out to $20k. In the end, it doesn’t matter if you made profit and withdrew it, and then added it back the next tax year, because even if you don’t withdraw and realize profits, the result is the same.

eighdreighanne

Crazy to do this in a TFSA and risk loosing contribution room for good

legit-advice

I thought you not allow to trade option in your TFSA? Don’t you suppose to pay income tax if trading option or frequent trading?

PlayerPlayer69

RSP this, TFSA, that. Where’s the DEEZ investment account, Canada? Hm?

PlayerPlayer69

> I gained her $3000 extra contribution room by her giving me 10k to long term invest, made that to 13k and withdrew… You don’t create more contribution room on investment profits inside of a TFSA. Her contribution room the following tax year is still going to be based on each respective yearly limit. > so even if I lose all this money her contribution room is still fine. Fair enough. The point still stands though, on an objective level. It is objectively a very unwise thing of your sister to let you use her contribution room, assuming she has her own job and income. This isn’t the case, so this setup works for you and your current situation. Was just wondering.

myinternets

You're thinking of RSP. You can contribute to your TFSA every year whether you claim income on your taxes or not.

TheRealMrMadMike

I guess everyone has to blow up their account a few times with the 'ol "full port"....but TFSA $$$ are precious

PlayerPlayer69

> Saved in my sister TFSA to invest. I’m sorry, but what? You can only contribute to a TFSA if you have earned income, so this implies that your sister has a job and is employed, if you’re contributing to it. Assuming that your sister has a job and is employed, why isn’t using her own funds to contribute to her TFSA?

Dampish10

Bro... stop just buy one of our CAD god tear funds like $EIT-UN.TO (Canoe EIT Income Fund), and get a FAT paycheck monthly.. you don't need to keep gambling in like 10 years you would of run. you should of stopped at UUUU, in a TFSA this gives you tax free returns.. stop being a dumbass

skilas

Day trading in your TFSA? Are you up overall? I'm always worried about the CRA in that one. Leave my trading for RRSP. Ha

fuzzywuzzy123

Bro, you didn't buy Microsoft. Per chatgpt: # 🧾 What it actually is * It’s an **ETF (exchange-traded fund)** or **fund class** that: * Tracks Microsoft Corporation (MSFT) * Is **priced in Canadian dollars (CAD)** * Uses **currency hedging** to remove USD↔CAD exchange rate effects 👉 So you’re **not buying one share of Microsoft**, you’re buying a **unit of a fund that holds Microsoft shares (or exposure to them)**. # 🧠 Simple analogy Think of it like this: * Buying MSFT directly = 🍎 buying a whole apple * Buying “MSFT CAD Hedged ETF” = 🥧 buying a slice of an apple pie (plus someone managing it for you) # 📊 Why investors use CAD-hedged versions People choose these because: * They want exposure to Microsoft **without worrying about USD/CAD fluctuations** * It’s easier to invest from Canadian accounts (like RRSP/TFSA) # ⚠️ Important takeaway The **$26.70 price is NOT “cheap Microsoft stock”** — it’s just: * A **different financial product** * With **different unit sizing and currency handling**

SkepticalInvestor21

Good question! In practice, most successful long-term investors stick with consistent DCA because trying to time dips often backfires. Here's what actually works: \*\*The hybrid approach:\*\* DCA your main contribution weekly/monthly, but keep 10-20% of your investment budget as "opportunity cash" for genuine corrections (15%+ drops). This way you're not sitting on the sidelines missing gains while waiting for dips that might not come. \*\*Key insight:\*\* "Buying the dip" works best when you're talking about broad market ETFs during actual corrections, not individual stocks that might be dropping for fundamental reasons. Individual stocks can stay "dipped" indefinitely if there are real problems. The math backs up your instinct - time in market historically beats timing the market. Even missing the 10 best trading days over 20 years can cut your returns in half. Most people who try to time dips end up buying high and selling low anyway. Your plan to add extra weekly to the TFSA while maintaining that employer match is solid. Just automate the DCA and don't overthink it.

Prior-Instance6764

What it means is different for everyone. Some people are holding 50% cash to buy a dip, but obviously means they miss out on all the increases. So, that's a dumb strategy. What it means for me? My "emergency" fund is in a TFSA. And it's fully invested into GICs. If I see a part of the market turn and go down, like tech has lately. I sell a bit and buy underpriced tech stocks. Everyone's situation is different, I can take risk with my emergency fund, because I've covered myself in other ways.

CaptainCanuck93

In terms of accounts, for very early career people: 1) TFSA 2) FHSA 3) RRSP If you think you're within 5-8 years of buying a house/condo but still far from peak earnings: 1) FHSA 2) TFSA 3) RRSP If you're nearing or in your peak earning years (and presumably already bought your first real estate): 1) RRSP 2) TFSA Typically hold off on RRSP contributions until you think youre getting closer to your high earning years. It doesn't make sense to deduct contributions from your taxes at lowest earning years FHSA has a similar argument, but since you only have a limited annual contribution with a low ceiling that must be used before you buy a house, you're typically going to use it at a younger age. The caveat is that your FHSA is essentially locked in for a house while the TFSA has the benefit of being for anything

No_Grapefruit8453

I’m also a uni student and here’s what I’m doing. TFSA every year, FHSA when I graduate, and RRSP at top earnings potential. Look into broad ETFs like XEQT or VFV. Keep in mind your TFSA contribution room. If you are born 2007, you have 14k of contribution room this year if you are 2006 born, you should have 21k of contribution room.