Avoid TFSA Over-Contribution Penalties: Here’s How!
Автор: the.financefemme
Загружено: 2025-01-02
Просмотров: 582
Описание:
Over-contributing to your Tax-Free Savings Account (TFSA) in Canada can lead to unexpected penalties. In this video, we break down:
• What happens when you over-contribute: A 1% penalty tax per month on the excess amount. 
• How to avoid over-contribution: Tips on tracking your contributions and understanding your annual limits.
• Steps to take if you’ve over-contributed: How to correct the mistake and minimize penalties.
Stay informed and make the most of your TFSA without costly errors. Always consult with a financial advisor or the Canada Revenue Agency for personalized advice.
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