Yes. When you make an "in-kind" transfer from non-registered to TFSA, the securities will be valued at that current time (when you make the transfer). And if you make a gain between this value and the time you bought them, you'll have to pay capital gain tax. Something called "disposition" if I am not mistaken.
tfsa
I have some stock of best buy canada.I wanted to know that if i transfer that stocks to tfsa brokerage account like td waterhouse will I be taxed on the capital gains??
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In fact, it is a "deemed disposition" since you are not actually disposing of the securities. Unfortunately, if you contribute securities to your TFSA that are valued less than their book value, you do not get a capital loss that you can use to offset against capital gains.
Again the scenario is that I got this stocks as a employee over there and it was handled by buck consultants who is going to charge me now since I am not an employee any more.Is there any way I can avoid the capital gains tax that I have to pay??And it is a substainal amount.
You need to focus on the 72% you made, paying capital gains is good.
And you will pay if you sell.
And you will pay if you sell.
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