Here is my situation.
-I have not used about any of my TFSA contributions for this year and past.
-All my savings are tied up in Employee Stock Purchase Plan.
-I have for the past two years being contributing significant portion of my income towards this plan (it is in scotia bank itrade pan)
-Due to increase in stock price/15% discount price I have made healthy gains in this account.
How can I take advantage of TFSA in my certain situation? Is it possible to transfer my money in this account into TFSA account? I'm trying to withdraw my gains with the least tax bill.
-I have not used about any of my TFSA contributions for this year and past.
-All my savings are tied up in Employee Stock Purchase Plan.
-I have for the past two years being contributing significant portion of my income towards this plan (it is in scotia bank itrade pan)
-Due to increase in stock price/15% discount price I have made healthy gains in this account.
How can I take advantage of TFSA in my certain situation? Is it possible to transfer my money in this account into TFSA account? I'm trying to withdraw my gains with the least tax bill.