Western Wind Energy Corp V.WND

Tfsa

[goldylocks1]

Asked my friend who's an accountant.

Cra will tax you 100% if they feel you have over contributed to your tfsa on purpose. So I would think twice before going that route. He said a lot of brokers were over contributing on purpose before and taking advntage of the original penlalty of 1% per month. 

Can anyone confirm this just to be sure. I trust my friend but alwys like to get a second opinion.

[ching819]

Goldy I feel it is not worth the risk. Besides if CCRA gets suspicious you may be in for a full audit going back many years. I gave some thought to doing this but I don't want to raise red flags. And let's face it, if CCRA has't figured this out yet, it is just a matter of time. I will stick to capital gains, thank you very much.   Ching.