Tax implications for transfer

[rogerme]

What are the tax implications for stock / cash transfers?
I think you have to pay tax if you're in the US/are a US citizen

What about in Canada? Ex. if I transfer all my stocks in my TFSA and non-registered investment account to my wife or uncle, do I pay any taxes on the transfer?

[nelsona]

Unresgistered Stock transfers to another person are considered sales. You would report any capital gains. The cost basis for them is the sale price.

taking stuff out of your TFSA would incur no tax in canda of course, but would be considered a sale in US. In either case the cost basis for them going forward is the sale price.

[nelsona]

cash transfers and stock transfers are also considered gifts, subject to US gift tax.

What's so special about hese stoks, that you absolutely need to keep them., and yet give them away.

Just sell them and take the money to US, or transfer them to aUS account.

[rogerme]

The US brokerage accounts don't handle TFSA and certain securities, so I want to transfer them instead to my spouse or my uncle
So aside from me having to pay capital gains on the stocks since I purchased them, the person receiving it will pay no tax?
(if I transfer cash to someone in canada - do I pay tax on that?)

Thanks!

[rogerme]

If I transfer stocks to my wife, is this considered income for her? (strictly in canada - we're both canadians at this point)
If I transfer these stocks to my wife and then 5 years later when I come back to Canada she transfers them back to me, do I pay 2 extra "rounds" of tax?

[nelsona]

Stock is not income. The income PRODUCED from stock is considered income. Once you give it to her, you are selling it to her at market value, triggering gains in your name. Then the gains will be in her name.

Do this with your uncle, and you can add the possibility of gift tax in the US.

[rogerme]

Thanks!