Investing

Transferring TFSA by selling and buying

  • Last Updated:
  • Feb 22nd, 2021 1:46 pm
[OP]
Member
Dec 23, 2012
498 posts
494 upvotes
RICHMOND HILL

Transferring TFSA by selling and buying

Hi all, I have a small TFSA account with Questrade that I'd like to transfer to IB. To avoid the large fee, I was thinking of transferring the amount in first to the new account, then selling and buying near-simultaneously to stay exposed to the assets. but, I don't have the contribution room. If I do this in a matter of days, will I get hit by CRA?
2 replies
Deal Addict
User avatar
Jan 16, 2007
1784 posts
2092 upvotes
If you withdraw the money from the TFSA, then you can't put it back in until next year without exceeding your contribution limit.
🏦 Banking: Alterna Bank (1.25%, No fees)
📈 Investing: National Bank Direct Brokerage
💳 Spending: Amex SimplyCash Preferred (2%), Brim Mastercard (1% forex, non-Amex)
📱 Mobile: Eastlink 10GB Rollover ($45/mth)
[OP]
Member
Dec 23, 2012
498 posts
494 upvotes
RICHMOND HILL
Ah, that's definitely good to know... Thanks

Top