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Is transferring funds from non-registered investments to TFSA tax efficient or the best source of funds?



Our response:

Generally, you can transfer investments in-kind from a non-registered investment account to a Tax-Free Savings Account (TFSA) as long as you have the available contribution room. However, you may have to pay tax if the value of the investments has gone up since you purchased them (in other words, you have a capital gain). Once your investments are in the TFSA, they will grow tax free.

Learn more about in-kind contributions to a TFSA – including what happens if your investments have gone down in value – from the Canada Revenue Agency.

We are not able to provide advice and cannot tell you whether this type of transfer would be beneficial to you. Speak to a registered financial advisor to learn more transferring investments to a TFSA and what is right for your financial goals and needs.

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