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Suggestions to add to TFSA

10925 Views 5 Replies 5 Participants Last post by  Rickson9
Hi there,
I've recently been getting into managing my investments (most of my stuff is with a bank brokerage) and opened a TFSA. I spent half my amount to buying RIOCAN reit and i've enrolled in the DRIP program to use as a long-term play and collect more shares as time goes on. Now ihave ~$2500 left and i'm stuck with what to do with it.

I've had my eye on a consumer discretionary (LLL: Lululemon) for some time but it pays no dividends and it's stock is on the rise. My wife loves the brand which is why i've been watching it.

I also have shares in a financial (CIBC) so i've got that area covered and also recently enrolled in it's DRIP program.

I use Questrade for my TFSA and was thinking about a couple items, maybe you can give me your opinion:

ATVI (activision) - it's a US stock and i dont quite know what i'll lose in the currency conversion but i believe theres a good future in this stock.
BVF (Biovail) - pharma company so i can add to that sector but recently took a hit with one of its Parkinson drugs failing a phase 3 test
- some energy stock that pays dividends and is in the $15-20 range (if possible)

I'm really thinking long-term here and don't do day-trading or anything, i'll just add to my TFSA every year and re-adjust allocations as necessary.

Any thoughts/opinions? Thanks.
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One question: Can we hold US Stocks (US Currency) in our TFSA? I use Questrade and can someone let me know if there's any fees, extra charges or tax?

If you hold US stocks in your TFSA, you will pay US witholding tax of 15% on all dividends paid. At least until the relevant tax treaties are updated to include TFSAs.

That being said, I also hold US stocks in the form of the TD US index-e fund, which makes up 50% of my TFSA.

Edited for some pretty awful spelling!
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