Hi Vila and others considering transfer of stock into TFSA,

I had a meeting yesterday with my senior business advisor at CIBC. She also helps with my personal banking. I am opening two TFSA accounts (wife and I). The Gov't will pay 5% interest (for the total amount put into the account) for the month of December as an encouragement to open before Janaury. As a further encouragement you could borrow money from your PLC to put the full $ 5000 in each account and the interest on this borrowed money is tax deductible (I believe that this is for the month of December only).

Unfortuantley, I was told thay I would not be able to transfer shares of NOT into this account come January. Something to do with the stock being redeemable.

I too trade through investors edge and was told that if I open the TSFA acconts now I will be able to trade within these accounts sometime in January through an extension of investors edge. Currently investors edge has not completed the necessary paper work.

I am sure that people know this already but as a reminder if in 3 years you were to withdrawl $10,000 from the TFSA account you are permitted to replace this $10,000 (at no penalty) plus add your annual contribution of $5000 that follwing year.

Hope this answers a few questions.

Sitler27