GREY:CRIUF - Post by User
Comment by
Sadie222on Aug 25, 2018 3:10pm
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Post# 28517351
RE:RE:Off topic TFSA question
RE:RE:Off topic TFSA questionOOPS
that’s 86 cents/month.
Sadie222 wrote: predawn wrote: 1) anyone know if over contributing by a lousy 86$ is worth worrying about
2) anyone know of a way of circumventing the 30 day rule when selling a stock at a loss and buying back less than 30 days for use in a TFSA
Penalty for overcontributing is 1% per month of the overcontributed amount. That would probably be backdated from next March, when they find out. Do worry about 9 cents a month?
I assume you know your contribution limit. CRA has a site where you can find it as of Jan 1, then you can reduce it from there by whatever you’ve put in this year.
A 30 day limit may be broker-specific. I don’t think CRA cares. Leave the money in the TFSA and you can do what you want, when you want. They track in-and-out only. Institutions report those transactions by SIN before March of the following year to CRA.