Is Wealthsimple TFSA taxable?

Asked 4 years ago

I use Welathsimple, and if I set up a TFSA account through them, will my capital gains get taxed?

Avoiding taxes Capital gains tax Tax law Tax-free savings account (tfsa)

Andrew Moran

Sunday, October 17, 2021

No, if you have a tax-free savings account (TFSA) on Wealthsimple, the capital gains earned on your investments will not be taxed. This also applies to dividends and interest.
That said, if exceed your cumulative contribution limit ($6,000 in 2021), you will be subject to a 1% penalty tax per month.

Write an answer...﻿

Cancel

Please follow our Community Guidelines

Long Term Microsoft Stock Investment: The Pros and Cons

Andrew Moran

December 23, 2024

Avatrade Review: Safety, MT4, Crypto, Social Trading, and More

Andrew Moran

December 23, 2024

Mastering Bitcoin Trading Strategies: A Comprehensive Guide

Ethan Collins

January 13, 2025

Filip Dimkovski

Andrew Moran

Simon Mugo

Filip Dimkovski

Sofia Thai

Filip Dimkovski

Can't find what you're looking for?

Is Wealthsimple TFSA taxable?

Related Articles

Long Term Microsoft Stock Investment: The Pros and Cons

Avatrade Review: Safety, MT4, Crypto, Social Trading, and More

Mastering Bitcoin Trading Strategies: A Comprehensive Guide

Related Posts

Can I use my TFSA as a trading account?

Can You Shield Profits From Being Taxed When the Investments Are Not Made Through a TFSA?

Is a RBC direct investing account a TFSA?

How much tax is addded when you hold US stock?

Wealthsimple Review: Trading Options, Stocks, Fees, and More

Does Your Original Investment Get Taxed?

What Are the Disadvantages of Selling Stock to Rebuy in a Dip?

How to Pass Estate Investments to Your Heir and Prevent Them From Blowing it?

How Does Stock Market Tax Work?

What Is the Tax Rate for Short-Term vs. Long-Term Investments

How does a self-directed TFSA at TD Bank work?

Why do I owe underpaid taxes even though there have been no changes in filing status, deductions, capital gains, or withholdings?

What is the amount if U.S taxes increase from $0.00 to 7%?

Can I transfer my TFSA from Questrade to interactive brokers?

How do I transfer funds from a bank to a TFSA account in Questrade Trading Platform?

Do I fill out a W-8BEN form if I want to trade stocks in the US?

Is Wealthsimple Trade a safe brokerage platform?