TFSA and mutual funds and nonresidency

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mappiqNew Member
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TFSA and mutual funds and nonresidency

Post Mon Jan 23, 2012 7:38 pm

I am a Canadian citizen, studying in the US (on a J-1 status). Right now I am considered a Canadian resident (for tax purposes). I assume that I am still therefore allowed to buy mutual funds with my bank, put money into TFSAs, etc. Correct?
If I eventually give up my Canadian residency, I know that I cannot put money into my TFSAs. Would I still be allowed to buy TFSA stocks/mutual funds with money already in my TFSA accounts? to buy stocks/bonds/mutual funds outside of TFSA?
Thank you very much for any help you can give!
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agnelsonCanuckAbroad VIP
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Re: TFSA and mutual funds and nonresidency

Post Tue Jan 24, 2012 9:29 am

you've already asked Q's on serbinski site. keep the tax discussion there.

You should close TFSA when you move to US. You can always replenish when you go back.
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mappiqNew Member
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Posts: 5
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Joined: 23 Jan 2012

Re: TFSA and mutual funds and nonresidency

Post Tue Jan 24, 2012 12:20 pm

Okay, sorry. I will re-post the question there.
But when I do, could you explain a bit more. Why should I close my TFSAs?
Also, what is the answer to the question of what things I can do with investments (TFSA, mutual funds, stocks) while overseas (buying, selling, transferring from one account of mine to another of mine, buying mutual funds with money already inside TFSA).
Thank you greatly in advance for your help!
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agnelsonCanuckAbroad VIP
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Joined: 26 Aug 2009

Re: TFSA and mutual funds and nonresidency

Post Tue Jan 24, 2012 1:33 pm

are you ahving trouble understanding?
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