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posted Feb 14, 2021 11:03:04 AM

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?

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Moderator
Feb 16, 2021 5:25:22 PM

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.