3 Ways the Canada Revenue Agency Can Tax Your TFSA

Author: External Author | | Categories: Accountants , Bookkeeping , Chartered Professional Accountants , Estate Planning , Financial Planning , HST Filings , Income Tax , Retirement Planning , Tax Planning , Tax Professional , Tax Returns , Tax Specialist

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Since its creation, the Tax-Free Savings Account (TFSA) has grown in popularity in Canada. The account type was introduced to encourage Canadian households to save more money. The TFSA allows you to earn on your investment completely tax-free.As remarkable as the TFSA is, there are a few mistakes that Canadians make, which results in their assets being taxed. Here are the mistakes you need to avoid if you want to benefit from your TFSA fully.

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Original Article Source Credits: .fool, https://www.fool.ca/

Article Written By Adam Othman

Original Article Posted on : December 25, 2019

Link to Original Article: https://www.fool.ca/2019/12/25/3-ways-the-canada-revenue-agency-can-tax-your-tfsa/



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