Sentences with phrase «owing upon withdrawal»
Post-Secondary Education payments (or capital withdrawals) are taken from the contributions you've made with your after - tax income, so there is no more tax owing upon withdrawal.
http://www.moneysense.ca/ Not exact matches
If the investment is stock shares or mutual fund shares and the only thing that has happened since you invested is that the per - share price went up (there were no dividends paid or mutual fund distributions that occurred between the purchase and today) so your investment is now worth $ 12,000, then by all means you can withdraw $ 10,000 from your investment, but you can not withdraw only the original investment and leave the gains in the account; your withdrawal will be partly the original post-tax money that you put in (and it will be not be taxed upon withdrawal) and partly the gains on which you will owe tax.