Key takeaways
- Gold ETFs and listed gold stocks are qualified investments, the simplest way to get gold in a TFSA, RRSP or FHSA.
- Bullion coins must be Royal Canadian Mint legal tender, at least 99.5% gold, bought from the Mint or a bank, trust company, credit union, insurer or securities dealer.
- Bars must come from an LBMA-accredited refiner, be at least 99.5% gold and carry a hallmark of refiner, purity and weight.
- Jewellery does not qualify, and neither does bullion bought outside these rules.
- A non-qualified investment in a TFSA can cost a tax of 50% of its value.
Which kinds of gold are allowed in a TFSA or RRSP?
The CRA sets one list of qualified investments for RRSPs, RRIFs, TFSAs, FHSAs, RESPs and RDSPs. Its guide is Income Tax Folio S3-F10-C1, last updated May 28, 2024.
| Type of gold | Allowed? | Condition |
|---|---|---|
| Gold ETF on a designated stock exchange | Yes | Listed securities qualify |
| Gold mining shares on a designated exchange | Yes | Listed securities qualify |
| Gold mutual fund trust units | Yes | Units of a mutual fund trust qualify |
| Royal Canadian Mint gold bullion coins | Yes, with conditions | Legal tender, 99.5%+ gold, bought from the Mint or a specified seller, value not over 110% of metal |
| Gold bars, ingots, wafers | Yes, with conditions | LBMA-accredited refiner, 99.5%+ gold, hallmarked, bought from the refiner or a specified seller |
| Gold certificates | Yes, with conditions | Issued by the Mint or a specified seller and backed by qualifying bullion |
| Jewellery | No | Does not meet the bullion rules |
In this table, a “specified seller” is what the folio calls a specified corporation: a Canadian-resident bank, trust company, credit union, insurance company or registered securities dealer.
Is a gold ETF the easiest way to hold gold in a TFSA?
For most people, yes. The folio says any security listed on a designated stock exchange is a qualified investment, and that includes exchange-traded fund (ETF) units. You buy a gold ETF in a self-directed TFSA or RRSP the same way you buy a stock.
- No storage or insurance to arrange.
- You can buy small amounts.
- You pay the fund’s yearly fee (management expense ratio) and any trading commission.
Some ETFs hold physical bullion; others hold mining shares, which can move differently from the metal. Compare them in gold ETFs in Canada.
Can you put physical gold bars or coins in an RRSP or TFSA?
Yes, if the bullion meets every condition in paragraphs 1.52 to 1.54 of the folio:
- Coins: legal tender gold coins made by the Royal Canadian Mint, at least 99.5% pure, bought directly from the Mint or a specified seller. Their market value cannot be more than 110% of the value of the metal in them, which keeps out collector coins.
- Bars, ingots and wafers: made by a refiner accredited by the London Bullion Market Association (LBMA), at least 99.5% pure, stamped with a hallmark showing the refiner, purity and weight, and bought from the refiner or a specified seller.
- Certificates: issued by the Mint or a specified seller, backed by bullion that meets the coin or bar rules.
The bullion is held inside the plan, through your plan provider, not at home. Bars or coins you bought elsewhere, and jewellery, do not meet the rule that the gold is bought from the Mint, the refiner or a specified seller. Not every provider offers bullion in registered accounts, so ask before you open one.
Do gold mining shares count as gold?
They qualify for a TFSA or RRSP if listed on a designated exchange, but they are shares in companies, not gold. Their prices depend on costs, debt and management as well as the gold price, so they can rise or fall more than the metal.
What happens if a TFSA holds gold that does not qualify?
The folio says the TFSA holder pays a tax equal to 50% of the fair market value of the non-qualified property when it was bought or became non-qualified. It is reported on Form RC243, due by June 30 of the next year.
The tax can be refunded if you get rid of the investment by the end of the next year, unless you knew or should have known it did not qualify. The CRA can also cancel or waive it, taking into account factors such as a reasonable error. Any income the TFSA earns from that property is taxed too.
The same 50% tax applies to non-qualified investments in an RRSP. The safe path is to buy gold only through your plan provider and ask them to confirm it qualifies.
TFSA or RRSP: which suits gold better?
Both shelter gains, in different ways:
- TFSA: gains and withdrawals are not taxed. A gain on a gold ETF in a TFSA is never taxed.
- RRSP: you get a deduction now, and withdrawals are taxed as income later. Capital gains inside lose their half-taxed treatment when you take the money out as income.
Outside a registered account, half of a gold gain is taxed. See how gold is taxed in Canada. Newcomers usually start with limited room; see TFSA and RRSP room in your first year and TFSA, RRSP and FHSA for newcomers.
Gold prices can go down as well as up. Past prices don’t predict future prices.
To see what a gram of gold costs before you invest, use the gold savings planner and check the gold price per gram.
General information, not tax advice. Rules were checked on October 24, 2026. A tax professional should confirm how they apply to you.