Feigenbaum Law

overcontribution

Two ATMs representing a mistaken TFSA deposit

Personal Tax Planning

A Reminder To Be Careful When Contributing To A TFSA

A Tax-Free Savings Account (“TFSA”) can be a great way to invest some extra money in order to collect interest on it without paying tax. However, the amount of money someone can contribute to a TFSA in any given year is limited, and individuals should be careful about putting too much money into a TFSA, even if by accident. This was a lesson a taxpayer recently learned following a decision from… Read More