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USD holdings in TFSA
July 16, 2024
7:44 am
AltaRed
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qzjxk said

The simple answer is no. The US$ put in will be considered a contribution; so you better have contribution room. The CDN$ pulled out will be considered a withdrawal. A withdrawal from a TFSA will increase your contribution room next year. A withdrawal from RRSP/RRIF will be taxed. If you are transferring in securities you will taxed on possible capital gains.  

Agreed. The exchange must be made within the registered account itself.

July 16, 2024
9:45 am
Norman1
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There's now a 100% tax on such swap transactions between registered and non-registered accounts because some people were abusing them.

The tax on swap transactions was applied to TFSA's in October 2009 and later to RRSP's and RRIF's in 2011:

Taxtips.ca: RRSP, RRIF, TFSA, RDSP and RESP Asset Transfer (Swap) Transactions

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