Top 5 TFSA Investments | What You’re Allowed to Invest in Tax Free!

Рет қаралды 3,183

Күн бұрын

Today’s video in the TFSA video series covers the top 5 investments you can make with your Tax-free savings account.
In this episode, I’ll show you how to maximize return on investments within your registered accounts.
If you have questions about TFSA after watching this video, leave a comment below, and I’ll respond as soon as possible.
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00:00 - Top 5 Investment in TFSA
01:45 - #1 Private Lending
03:41 - #2 Private Real Estate Investment trusts
04:57 - #3 Land Development Investments
06:20 - #4 Selling covered call on shares you own(Options trading)
10:54 - #5 Deep in the money Call option
DISCLAIMER:
Tax planning is a personalized decision and will depend on your situation, priorities, and risk tolerance. Consult with your own legal and tax advisors to ensure you get the advice you personalized for you.
The information contained in this video is for general information purposes only.
The information is provided by ECRB Consulting Inc., RealEstateTaxTips.ca, Cherry Chan Professional Corporation and Cherry Chan.
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Пікірлер: 26

@jacob-yq1ps 2 жыл бұрын

I love your videos! Thanks for the nuggets

@RealEstateTaxTips 2 жыл бұрын

Glad you like it.

@thewatchtherapist5066 2 жыл бұрын

Very good video. Would be interested to see a similar video for the RRSP. Thanks

@triplenetinc 2 жыл бұрын

Great summary and very well explained!

@RealEstateTaxTips 2 жыл бұрын

Glad you like it.

@fi_high 2 жыл бұрын

Awesome vid, bookmarking for reference! 😊

@RealEstateTaxTips 2 жыл бұрын

Thank you!

@soyounghan3394 2 жыл бұрын

Thank you so much. As always, this was another eye opening video for me . I had a question. I am already doing private lending for 1st and 2nd mortgages through a broker. However, I didn't know I can do this through a TFSA and save on taxes. Could you teach me more on how to do this? I am confused on the steps that need to be taken. Can I just withdraw funds from my TFSA account and lend that out, or are there specific steps I need to follow? Thank you again.

@RealEstateTaxTips 2 жыл бұрын

Typically private mortgages are facilitated by a mortgage broker/lawyer. They would be able to walk you through the exact steps on how to get this accomplished. As a minimum, you would need to transfer the TFSA funds to a trust company that would administer the private mortgages for you. In Canada, there are only a couple of them. You do not just withdraw from your TFSA, otherwise you could risk using up your TFSA and over-contribute. You do a transfer from your TFSA account with Bank A to TFSA account with these trust companies. Hopefully this helps.

@soyounghan3394 2 жыл бұрын

@@RealEstateTaxTips Thank you so much.

@johntong6302 Жыл бұрын

The option examples were on Canadian stocks. Are we able to do the same with US sticks without any tax implications in TFSA acct?

@RealEstateTaxTips Жыл бұрын

Canadian stocks in TFSA is the easiest... less withholding tax issue. The US government does not recognize TFSA account as a tax free account and typically there's withholding tax on dividend received.

@janet_8447 2 жыл бұрын

Hi Cherry, Thanks for your video. It's very informative. You mentioned private REIT investment. Can you show how to go about that route? Is there a specific broker you are using that you can refer to. For DITC investment, can you do it with TD? Thank you.

@RealEstateTaxTips 2 жыл бұрын

I believe purchasing Deep In The Money Call is available in all trading platform, provided that you declared that you have the required level of trading experience. I could share with you who I invest with but these private REIT opportunities aren't always available. No endorsements by any means. Feel free to email my office and mention about private REIT and I will send you to the right person. Do your own due diligence though.

@josiemarando4201 2 жыл бұрын

Hi, I was wondering how do you go about looking for deep in the money calls- would you need to exercise a stock broker, or would a financial planner at a bank instruction be able to facilitate this?

@RealEstateTaxTips 2 жыл бұрын

Josie, our clients typically invest in DITM call using platform such as Interactive Broker, TD Waterhouse, etc.

@scottmatthews5063 2 жыл бұрын

I have never heard that you can buy deep in the money calls inside your TFSA, thanks so much! Does that mean you can also do a synthetic covered call in a TFSA (using both DIM and covered calls on the same underlying)?

@RealEstateTaxTips 2 жыл бұрын

Great question. I wish the answer is yes, but unfortunately, you can only do covered calls with actual shares you own.