6 CommentsLeave a comment

    • Excellent question. The tax saving on these are relatively small compared to other areas government could consider taxing. What we know from past changes to tax legislation is that it is never retrospective. In other words they may say you can no longer save new money into a TFSA but they would never remove the tax arrangement on existing funds. That makes starting a TFSA even more compelling – use it before you lose it 🙂

  • Excellent advice. Question – what are the regulations around transferring a bank TFSA balance to an alternative savings vehicle? does this impact your lifetime contribution as it will show as a withdrawal from the bank?

Leave a Reply

Your email address will not be published. Required fields are marked *

Join the Maya on Money weekly newsletter

Join the Maya on Money weekly newsletter

For updates that impact your day-to-day money decisions.

You have Successfully subscribed. Please check your inbox to verify your subscription.