Investing

How to go about profit in direct investment account?

  • Last Updated:
  • Dec 14th, 2020 8:22 pm
[OP]
Sr. Member
Sep 29, 2012
728 posts
48 upvotes
Toronto

How to go about profit in direct investment account?

Hello

I picked day trading for last few month and i am up about 20K in profit over . I couldn't use TFSA since i already used up all my contribution room. Tax on investment income is very high. so what should i do for this year ? and maybe opening up business account be better ?

Any help would be great.
1 reply
Deal Addict
Jul 5, 2008
1509 posts
1276 upvotes
Tax on day trading income is the same as any other income. I believe that if you trade within a corp you don't qualify for the small bus tax rate. Any other bus structure the income is yours anyway.

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