Just curious if the new TFSA could be use to house a real estate investment?
Let`s say the combined spousal contribution over 5 years would be equivalent to 5000*5 years*2 people = 50,000.
In five years, you put 50,000 (ex. down payment) into the TFSA to acquire something. Then in year 10, you sell and avoid any capital gains or pay no taxes since investments within is tax free.... Is my thinking flawed?
Perhaps this is being too creative.
Kir
Sterlings Real Estate
780-995-4050
Let`s say the combined spousal contribution over 5 years would be equivalent to 5000*5 years*2 people = 50,000.
In five years, you put 50,000 (ex. down payment) into the TFSA to acquire something. Then in year 10, you sell and avoid any capital gains or pay no taxes since investments within is tax free.... Is my thinking flawed?
Perhaps this is being too creative.
Kir
Sterlings Real Estate
780-995-4050