RE:RE:RE:TFSA EXPLAINEDtrader2day wrote:
The Secret that banks and CRA fail to tell people when opening a Tax Free Savings Account is any money you withdrawl.. must not be replaced for at least 1 year.. Or CRA will send you a immediate Tax bill on that withdrawl. Those Tricky CRA people. Eh
Good Information to know for those in a TFSA
If the bank doesn't tell you about how the TSFA works, then they aren't doing the job properly. They are obligated to inform the account holder of how the TSFA works for contributions and withdrawals. It is NOT a secret.