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  1. In your article there is no mention of holding precious metals in a TFSA. My question is if you currently hold precious metal bullion outside of your TFSA, is it necessary to sell the precious metal deposit the proceeds of the sale , then re-purchase the bullion?

    1. Response from the MoneySense editorial team:

      Hi Terry, thanks for the question.

      Due to the large volume of comments we receive, we regret that we are unable to respond directly to each one. We invite you to email your question to [email protected], where it will be considered for a future response by one of our expert columnists. For personal advice, we suggest consulting with your financial institution or a qualified advisor.

  2. And the big one left off the table???
    EQUITIES (Stocks)
    Potential for larger gains (or loss) than all the others. Learning to invest should include some equities. YES, you will more than most likely lose some. If you use it to learn then more than most likely you will be ahead of the game


  3. Your advice is very useful, however, another investment that is missing are blue chip stock and high dividend stocks, R.O.E. In bank stocks has been quite decent (RBC, National Bank, BMO, etc.) and in addition to their dividends are a very safe investment and less volatile than EFT,s and no management fees attached to them. Therefore the dividend return is net to you and not diluted by management fees.

  4. @Terry Fisk – Short answer is no. The government does not allow people to transfer investments into their TFSAs. You would have to sell your precious metal investments, realizing any capital gains, and take those proceeds and re-purchase the metals within your TFSA, assuming you have contribution room remaining.

    Note: I tried to use the ‘Reply’ button to respond to your comment but it did not work.

  5. Quote from this article…
    (Also, worthy to note, with a TFSA you can make withdrawals, and if you withdraw enough to bring your balance below the lifetime maximum (or equivalent for your age, if you are younger), you regain that contribution room.

    Is this accurate? I was under the impression that any money you withdraw this year can be put back in during the next calendar year. So, if you had grown your TFSA to say $75,000 and you need the money for the short term, you can replace the full $75,000 in the next calendar year. Am I incorrect with my assumption?

    1. Hi John,

      In your example, you would regain the $75,000 in contribution room, but you can only put the annual maximum in each year, regardless of your total contribution room. For the year 2020, the TFSA contribution limit is $6,000.

  6. Hey John,

    I think your initial assumption about a $75,000 withdrawal and re-contribution is correct – the following calendar year you would be able to re-contribute the entire amount, plus the additional contribution room you gain from the calendar year rolling forward. In this case that would be 75K + an extra ~6K (from the year rolling into 2021).

    The annual contribution max for each year is only for “new” contributions made to the account and assuming no withdrawals have been made.

    Details are all listed on the CRA website for TFSAs: