I doubt CUU can be claimed as a business. CRA should give us a medal for hanging in there for so long honestly. haha

No, the person trading in stock is deemed to be operating the business of trading. The TFSA rules state that you cannot use the account to operate a business. Professional traders could not buy and sell stocks within the TFSA and they decided this person was a professional mostly because he made a profit!

The person in the article was assessed capital gains taxes and he paid because they were threatening worse. He's not the only person who has had this happen to them, either. So far everyone has paid.

I think if this happens to us over CUU that we should band together and fight it because after waiting all these years we shouldn't give anyone the satisfaction of taxing us more than is owed.