For example, if you're in the 30 % tax bracket and were able to save $ 17.5 k in
your TFSA as a downpayment for a house, you could instead have put the $ 25k you made (and were taxed on before putting the funds in your TFSA) in an RRSP pre-tax, and then used the full $ 25k for your downpayment.
Not exact matches
Take Ben Feferman, for example, a 33 year - old app developer, who opened his
TFSA the first year it was available and views it
as a investment vehicle to fund his
downpayment or retirement.
But just
as likely is the case where the
downpayment is a laser - focus so there is nothing to put in the
TFSA aside from that.