TFSA Question

Welcome To the WIN!!! St. Elias Mines HUB On AGORACOM

Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE

Reply New Message

Prev Message Back To Forum Threaded View Next Message

explosif

Rank: Mail Room [?]

Points: 86 [?]

Votes: 5 Score: 2.2 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

TFSA Question

posted on Aug 07, 2011 09:23PM

I opened up a TFSA this year and put $15,000.00 into it and I got messed around by my broker with which account the money got transferred to so I withdrew $5000.00 and deposited $5000 worth of SLI in kind into the account. To make a long story short this year I have a $5000.00 over contribution to my TFSA. As I understand all deliberate over contributions are taxed at 100%. Does anyone know if the CRA would consider my transaction as a deliberate over contribution? (My TFSA holds only SLI).