Wealthsimple accounts: I had a personal account, but then opened a TFSA. I sold my positions in the personal account and transferred the money to TFSA. Are there taxes?
Wealthsimple accounts: I had a personal account, but then opened a TFSA. I sold my positions in the personal account and transferred the money to TFSA. Are there taxes?
If you mean that you sold stocks or bonds and then put the proceeds into a TFSA, then yes, there might be capital gains taxes due to the sale. If you just closed a regular bank account and transferred the money to a TFSA, then there’s no tax on the transfer.
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