Post by
Wisdomwithage on Feb 25, 2016 9:59am
Some TFSA Clarification Needed
Hey Mates,
The rules are very simple:
if you contributed your original GCO shares to your TFSA before the "spin-off date", and you are within the contribution limit for the year, you do not need to file a TFSA Tax Return. Any spin-off is not considered an over contribution if it occurs inside your TFSA.
The only time you must file a TFSA occurs if you overcontribute in any year.
Cheers,
Brit
Comment by
JimmySaysUDie on Feb 25, 2016 10:38am
You are correct about the over-contributions but the letters client's are receiving from their brokers are dealing with the investment being prohibited regardless of your TFSA limit.