RE:RE:RE:RE:RE:RE:RE:Last monthYou're wrong. Look again and see what happen when they judge that the overcontributions are done deliberely. The only sources I got are in french, so I guess it wouldn't help anyone here.
I work in an financial institution and I looked into CRA fiscal information.
By the way, Lith just post something about the «special tax».
Somehow, people that use TFSA to invest can «freeze» their maximum cotisation rights by retiring every dollars that are over residual rights.
I mean ;
2016 full rights are 46,5K$. You used 100% of your rights to invest.
At the end of the year, your investment is now worth 70K$.
If you retire the excedant (70K$ - 46,5K$) before the end of 2016, few days before the end of 2016, you are going to get your maximum cotisation freeze at 70K$ plus annual rights of 2017.
Early in 2017 you put your money back in your TFSA, but you now have 70K$ rights + annual cotisation rights as to get only 46,5K$ + annual right with 23,5K$ in profits that aren't converted in «rights».
The plus-value of doing this instead of keeping it in your TFSA at the end of 2016 is that if your investment fall in 2017 you are gonna lose your 23,5K$ rights because you hadn't retire it sometimes in the past.