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Old 02-19-2013, 05:26 PM   #90
Sylvanfan
Appealing my suspension
 
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Join Date: Sep 2002
Location: Just outside Enemy Lines
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I suppose one way to win might be to try and hit one out of the park thru your TFSA, and if you did, you could than take that money and make a huge lump sum contribution to your RRSP assuming you have carry over room. As an example I have enough carry over room where I could contribute enough and be at my basic personal claim level. In which case the tax savings could become pretty significant. So if my 5000 TFSA contribution blew up to 60000 in 5 years time, I could take that out and make a large lump sum RRSP contribution and get all my income tax money back. Of course it's a highly flawed strategy. Would that be legal, because it could allow someone to hit a big gain, than parlay that into good tax savings.
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