Quote:
Originally Posted by albertGQ
Wouldn't it have been less confusing if they just raised the personal exemption amount by another $5,000? Or am I totally interpreting this wrong?
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The way I read it is that you can invest $5000 and by designating the account as a TFSA, you don't have to pay any taxes on the gains/interest earned (so I can buy $5000 worth of GICs or mutual funds and the money I made is not taxable)