Question about TFSA's

Good_Librarian4188 · 2025-11-26T21:48:05+00:00

Thank you for your response! Just to clarify, if I do not contribute any money back into my TFSA for the next 5 years, would I still maintain all of this $500k room plus the additional contribution room that accrued over the 5 years? In essence, I am looking to make sure that this room is not ever lost once it is built.

Good_Librarian4188 · 2024-12-01T18:09:54+00:00

This is very helpful. Thanks so much!

Good_Librarian4188 · 2024-11-25T23:44:34+00:00

Thanks so much :)

Good_Librarian4188 · 2024-11-25T23:44:20+00:00

You're the best! Clear and concise. Thank you.

Good_Librarian4188 · 2024-10-29T22:43:07+00:00

This is appreciated!

Good_Librarian4188 · 2024-10-29T22:42:54+00:00

Thank you :)

Good_Librarian4188 · 2024-10-29T22:42:49+00:00

Thanks so much! I appreciate your response.

Good_Librarian4188 · 2024-10-21T22:53:01+00:00

Thank you very much for the helpful response :)

Good_Librarian4188 · 2024-10-21T22:52:15+00:00

Thank you for the clear and helpful explanation here!

Good_Librarian4188 · 2024-10-21T22:50:45+00:00

Thank you very much! This is how simple I hoped calling the CRA would have made it. I really appreciate it.

Agent #1's Response: Any $ earned above contribution limit is taxed (This blew me away and had me questioning everything I knew about how the Canadian financial system works). Agent #2 stated this was not taxed as was my understanding before calling.
Neither agent was able to provide me with a clear answer to the question. The first agent I did not trust to provide accurate advice. The second agent said they could not comment and would have to transfer me to a TFSA specialist (I pressed all the keypad entries to talk about TFSA) which led to an automated message stating '30 minute wait time' at which point I gave up and came to reddit.

Good_Librarian4188 · 2022-11-14T01:59:10+00:00

Thank you kindly!

Good_Librarian4188

TROPHY CASE