TFSA`s for property purchases?
- Thread starter jquantz
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QUOTE (jquantz @ Mar 31 2009, 08:12 PM) Can anyone help me with information about using a TFSA to purchase real estate?
buy stocks with real estate content or REITs
or invest in a private syndication that allows TFSA`s which is rare !
buy stocks with real estate content or REITs
or invest in a private syndication that allows TFSA`s which is rare !
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Generally anything that is RRSP eligible is also eligible for TFSA contributions. So generally arms length mortgages is about as close as you can get.
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QUOTE (MikeMcCrae @ Apr 2 2009, 09:48 AM) Generally anything that is RRSP eligible is also eligible for TFSA contributions. So generally arms length mortgages is about as close as you can get.
yes, in theory this is correct .. BUT: a mortgage for $5000 ?
yes, in theory this is correct .. BUT: a mortgage for $5000 ?
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You can also use your TFSA to invest in Mortgage Investment Corporations (MIC), land banking projects and land development projects. As far as into a single rental property basically no.
If you are considering the other options I listed let me know and perhaps I can help. If you don`t know what a MIC is or understand how it works, read this article for an explanation, What is a MIC? If you don`t know what a TFSA is, where have you been? Or you can read this, Tax Free Savings Account Information.
Regards,
If you are considering the other options I listed let me know and perhaps I can help. If you don`t know what a MIC is or understand how it works, read this article for an explanation, What is a MIC? If you don`t know what a TFSA is, where have you been? Or you can read this, Tax Free Savings Account Information.
Regards,