The best high-interest savings accounts in Canada for 2025 + MORE Aug 13th

I am in my mid-50s and looking to simplify my portfolio. I would like to sell all positions within each account and deploy a 2 to 3 ETF portfolio. Am I able to sell off everything to purchase VEQT and a bond ETF, or will I be penalized (taxed) on the approximately $1 million in stocks?

–Brad

Some investors buy only stocks, others buy only exchange-traded funds (ETFs), and yet others use a combination of the two. Both can be a viable way to build a portfolio. Let’s look at each one, starting with stocks—specifically, the tax implications of selling stocks in tax-preferred versus non-taxable accounts. 

Selling stocks in tax-preferred accounts

When you sell stocks in a tax-free savings account (TFSA), there are no tax implications, Brad. There is no tax to sell a stock for a profit, nor tax savings to sell a stock for a loss.

There is no tax to withdraw from a TFSA, either…

Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.

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Best high-interest savings account rates in Canada

Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…