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Can I use my TFSA account to purchase stock in a specific company?



Our response:

You can hold a wide range of investments in a Tax-Free Savings Account (TFSA), like cash, GICs, bonds, stocks, ETFs and mutual funds.

To purchase stocks, you may need to set up an investment account – this could be with a full-service investment firm or self-directed. Before you set up an account, make sure the company and individual are registered with your provincial securities regulator.

Speak to your current TFSA provider to see whether your account is already set up to purchase stocks. If you need to transfer funds from your current TFSA account to another TFSA account to purchase stocks, make sure you understand the rules around making transfers between TFSAs.

Learn more about TFSAs.

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