Noront Resources

When you transfer from your unregistered account to the TFSA account, regardless of whether you sold the stock or not, a deemed disposition has occurred. You have to settle the gain or loss using the most favaourable closing price on the day of the transaction. You likely had a gain with NOT, so for an example if you paid adollar for your shares months ago, and transferred them to your TFSA yesterday at say $2.00, a gain is made of one dollar per share. If your total gain equals say, $1000, then you pay tax on this gain, assuming you have no loss carry forwards from current or previous years. Basically the opposite occurs with a loss.

You may want to ask your accoountant this question again as it appears incorrect.