![]() ![]() It is not intended to cover all possible situations or to replace professional financial, tax, or estate planning services.Īs with other important investment decisions, you should speak with your financial advisor or a representative at your financial institution to be sure you are aware of any conditions, limitations, or administrative fees that can apply. This guide does not deal with every tax situation. For more information on the TFSA, go to Tax-Free Savings Account. It gives general information on this investment opportunity including who is eligible to open a TFSA, what the contribution limits are, possible tax situations, non-resident implications, transfers on marriage or relationship breakdown, what happens when a TFSA holder dies, and various other topics. This guide is for individuals who have opened or who are considering opening a tax-free savings account (TFSA). Formal disputes (objections and appeals). ![]() Information circulars and Income Tax Folios.What to do if you disagree with your assessment.Waiver or cancellation of the TFSA taxes.Responding to the proposed return package.Excess TFSA amount correspondence explained.Refund of taxes paid on non-qualified or prohibited investments.Tax payable on non-qualified investments.Tax payable on non-resident contributions.Designation of an exempt contribution by a survivor.General rules – Deposit or annuity contract.Excess TFSA amount at the time of death.Transfers upon breakdown of marriage or common-law partnership.Impact on your government benefits and credits.Losses incurred within a TFSA investment. ![]()
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