Taxes

If, at any time in a tax year, the TFSA holds non-qualified investments, the trust governed by a TFSA will be taxable on any income earned or capital gains realized from the non-qualified investments. Similarly, there are tax consequences to a TFSA issuer when an advantage is extended in relation to a TFSA. Taxes may also be payable in the case of excess contributions and contributions made by a non-resident.

Date modified:

2016-11-16