Everyone seems to cheer these latest inventions of the government. I am a little less enthusiastic. I don't see the point? I have $5000 that i put into a savings account getting me what 3%? So the tax savings for me is .54 of $150 or about $90/yr. Not exactly life changing for even low income earners who can't find $500 to save much less $5000.
I am thinking of the alternative and going for broke. The flip side to this is that my losses are no longer claimable. I still think the advantages far out way the non deductability. So my TFSA will be put into options, small caps and anything else that looks like it might double or beyond. Of course the opposite may be true, but unless that account really grows its better for me to put money into RRSP's. I can take the refund and pay down non deductible debt.
One bright idea i am looking at is Suntech or STP-N. Numbers look good, but will sales dip drastically during this downturn?
D
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