RE: RE: RE: RE: Market recoveringRY...It is $5,000 per year contribution...Anytime you can take a withdrawal from this account no matter how large it has grown the $'s are all tax free ... the $'s never get added to income... so all tax free no matter what..
Let's say you are BJ and put in $5 in and invested in MOA and it grows to $15K in 2009...next year you put in another $5 so now there is $20k..say this double in 2010 to $40k and you decide to take it all out to pay off some debt or blow it on a new speed boat...you do not pay any tax. The following year you will still be able to make a new $5 contribution....this is a pretty sweet and every one in Canada who can scrape up any extra cash(up to $5/yr) should go for it...C.Gert