4 ms·
Just limit the contribution that could be made to Roth IRA? We have a limit of $6000 CAD for TFSA (basically our version of the Roth here) across the board. An
by calyth2018 5y ago
Just limit the contribution that could be made to Roth IRA?
We have a limit of $6000 CAD for TFSA (basically our version of the Roth here) across the board. And not a lot of Canadians make full use of this.
I'm not saying what he's doing is illegal, but the article suggests that he jammed in enough eBay shares @$0.30 that when it was $19 per share, worth about $31.5M USD.
So somehow he moved about 1.6M shares worth about half a mil?
A yearly contribution room regardless of income would at least stop someone from stuffing lots of shares in a short time into Roth. It probably has the unintended consequences of being regressive to those who don't have the cash flow at all to make use of the Roth IRA.
- Moodles 5y agoThere is a $6000 contribution limit to a Roth IRA already.