GREY:XEBEQ - Post by User
Comment by
Andyoil1on Jan 04, 2021 11:29am
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Post# 32215238
RE:RE:RE:RE:RE:RE:Lol 10.07 New High
RE:RE:RE:RE:RE:RE:Lol 10.07 New High TFSA withdrawal rules
If you withdraw any amount within Jan 1-Dec 31st, you cannot just go ahead and add this back to the TFSA in that same calendar year. You have to wait and add those funds back in, in the new calendar year. For example, I withdraw 12,000 from my TFSA on June 6, 2020. I have to wait until Jan 1, 2021 to add these funds back to the TFSA.
As well, any transfer into your TFSA must still only be up to the eligible yearly amount, hence for 2021, its 6,000, so if you are transferring in anything this year, it has to be no more than 6k (unless you have some carry forward room as per the above).
i know all of this as I have done it!! Lol