Just opened a TFSA account with Questrade, and would like to DRIP canadian stocks such as RBC, Manulife, and BCE.
I read the canadian premier on DRIPs & TFSA:
Still could not wrap my head around the instructions. Why not buy the stocks through my Questrade TFSA account and fill out the questrade DRIP form to have the brokerage (Synthetic) DRIP on my behalf
The article is suggesting buying the stock outside the TFSA first, register it with the company, then transfer it in kind to the TFSA. What are the merits of this approach
The latter approach as I understand it triggers capital gains taxes when the stocks are moved to the TFSA account.
Any input would be much appreciated.