CRA considers that a contribution of shares to a TFSA is not a “sale” for Reg. 230 purposes

CRA considers that a contribution of shares of a public corporation is not a “sale” of those securities for purposes of Reg. 230. Consequently, there is no obligation of a licensed securities dealer who held shares of a public corporation of an individual in a regular brokerage account to report a transfer of those shares to the individual’s TFSA on a T5008 slip.

Neal Armstrong. Summary of 12 November 2019 External T.I. 2019-0822161E5 F under Reg. 230(1) – “sale.”