Sentences with phrase «affect contribution room»

This does not affect contribution room of either party.

Over-contributing to TFSAs has been a problem for years, mainly because of a misunderstanding of how withdrawals affect your contribution room.

As previously mentioned, you can withdraw money at any time from your TFSA and this does not affect your contribution room.

Not exact matches

Mastracci says TFSA assets can be transferred to a surviving spouse's TFSA without affecting the spouse's contribution room.

Up to $ 25,000 can be withdrawn from RRSP under the first - time home buyers» plan without affecting your future contribution room.

If this applies, the survivor gets to keep the tax - free status of the TFSA money without affecting their existing contribution room.

That means in 15 years my wife and I will have $ 150,000 in contribution room, which assuming I have maxed out means I could be pulling out $ 6000 / year (assuming the 4 % rule) tax free between the two of us for our early retirement and not affect any benefits I would receive from the government when I turn 65!

It may be the middle of RRSP season, but Canadians still seem to be confused about TFSA contribution limits, carryforward of prior years» room and how withdrawals affect the amount you can contribute in future years.

Yes, transferring your pension to a LIRA does not affect your RRSP contribution room — unless a portion is taxable and you choose to make an RRSP contribtution with it.