Hudson Bay Finance · Blog
Blog
Canadian registered accounts, written against the CRA rules and cited to them. Every figure links to the source it came from. Short answers to one specific situation live on Learn.
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TFSA withdrawal rules: when the room you took out comes back
TFSA room comes back January 1 of the next year, not on the withdrawal date. The CRA's two worked examples, and the one case where same-year re-contribution is fine.
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How to check your TFSA contribution room when the CRA figure is behind
The CRA says to calculate TFSA room from your own records, not your CRA account. Here is the formula it publishes and where each input comes from.
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Your TFSA over-contribution: what the penalty actually costs
The TFSA over-contribution penalty is 1% a month on the highest excess in your account. Here is the CRA's own arithmetic, and the deadline that follows.
