South Africa, Zimbabwe look for mining revival under new leaders + MORE Feb 26th

Q. I would like to invest $10,000 in an RBC mutual fund with a 4% dividend and another $10,000 in a fixed income Bond fund yielding 4%. Which account should I hold these in—my TFSA or RRSP—and does it really make a difference? Thanks, Eleanor H.
Eleanor, I need to be careful how I answer your question because there is no difference while invested, but there’s a difference when going into, and coming out of a TFSA or RRSP.
While invested; dividends, yields, capital gains, interest, it doesn’t matter, they all contribute to the growth inside the TFSA/RRSP and there are no tax consequences.
When deciding between a TFSA and an RRSP you want to consider your contribution approach, and your anticipated tax situation at the time of withdrawal.
If I am reading your question correctly, you’re really asking is there a difference between a TFSA and an RRSP and if there is, what is the difference?
You have $20,000 to invest, and I’ll assume that you have the room to contribute to either the RRSP or TFSA, and your marginal tax rate is 30%…

Q. Bruce, I am 30 years old and make $80,000 annually. Should I try to max out my TFSA first? Or my RRSP? And why? – Thanks, Preet
We have a winner!  The RRSP should come first in your case, provided I’m correct on a few important assumptions.
First, that your income will continue to grow.  You’re young and already earning a great income.  You may spend most of your career in the highest income tax bracket and so you’ll really benefit from the income tax deferral you get because of your RRSP contribution.  Your money grows and grows—even faster if you put that tax refund to work instead of spending it.  When you withdraw the money decades from now you will pay income tax, but at a lower rate because, presumably, you’ll have a lower income in retirement.
My second assumption is that your goal for the money is retirement savings.  If instead it is for a down payment on a house, or a car purchase, or something else in the short, the TFSA would be a better option.  The RRSP is a less flexible option than the TFSA, and for retirement savings that is a good thing…

The downfall of former presidents Jacob Zuma and Robert Mugabe is seen as the best opportunity in many years to remove the steep barriers to investment in both countries.

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When transferring a stock from an RRSP to a TFSA, is there any advantage whether it is in a loss or gain position? Why or why not? – Darryl
If you hold a stock in your RRSP and you want to hold it in a TFSA instead, there is no way to simply transfer it from one account to the other. At least, I am unaware of any brokerage that will allow you to do this.
Instead, your only choice would be to first “deregister” the shares, which means transferring them in kind from the RRSP to a non-registered (taxable) account. This would be considered a withdrawal from the RRSP, which means the full market value of the holding will be taxable as income. Your brokerage will be required to withhold at least 10% for taxes, and you will probably also pay a fee for the transaction.
Once the shares are in a non-registered account, you could then transfer them in-kind to your TFSA. Note that if they appreciate slightly during the time it takes you to arrange all of this, you will pay tax again on any capital gain…

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