Sentences with phrase «tfsa at your financial institution»

Non-redeemable prior to maturity for any reason other than transferring to a TFSA at another financial institution or to withdraw an excess contribution

If I have a TFSA at another financial institution and I want to move it to CIBC, there are no tax penalties involved.

Not exact matches

«If you have $ 200,000 or less, then you will benefit from having your RRSPs, TFSAs and other investments all at the same financial institution,» says Dekanic.

TFSAs were first introduced in Canada in 2009, and are available at most Canadian financial institutions.

Their investments are spread across several financial institutions; they include a stab at index investing via a Tangerine balanced fund and stocks from Corey's employer in a TFSA.

Annual maximums apply to all TFSAs you hold at all financial institutions and excess contributions are subject to tax, interest and penalties.

Moving your TFSA money around to various institutions could trigger a tax penalty since it's also against the rules to take money out of a TFSA and transfer it to a plan at another financial institution in the same calendar year — you'll get hit with an over-contribution penalty.

It is possible however, that one or both of the financial institutions you had the TFSA at, incorrectly reported the transfer as a contribution or a withdrawal.