...time to consider what to do before yr end as rules have change. No longer are swaps availible so different strategies have to - be considerd. Looking at your TFSA, this is the first place to add more funds if you can top upto the $ 15,000 currently allowed. I like to add penny stocks that offer capital as no tax are paid but San is cheap here so consider San as an option to buy.. Selling out your TFSA before yr end and going to cash and then with drawing the cash tax free is one avenue to consider at yr end since you are allowed to top back up your TFSA in 2012 with the total amout with drawen in 2011 plus another $5,ooo in the new yr. Funds sold in a cash/margin acc..at a loss can be carried forward while in a TFSA are not you might be better off transferring the cash back to the TFSA in Jan 2012 depending on ones situation..With drawing from a Mutual fund or SDRRSP one must pay the tax but consider the free tax in your TFSA going forward here as stocks across the board are awful cheap..losses or gains don:t apply for carry back or gain in your funds or RRSP while selling for a gain in your Margin or cash acc.. must be claimed after deducting any losses..Traps7