TFSA Background – TFSA Anti-Avoidance Rules: Prohibited and Non-Qualified Investments Tax Free Savings Account (TFSA) plans are a tax efficient method of investment for individuals created by the government to encourage Canadians to save for retirement or other shorter-term goals. The basic structure of a TFSA is that a...
Introduction to the Relevant Law on TFSA Over-Contribution and Non-Resident Contribution Before discussing the case of Ifi v. Canada (Attorney General), 2020 FC 1150, an introduction to the underlying law is necessary to provide context. Tax-Free Savings Accounts (TFSAs) are popular savings and investment tools for Canadians. A taxpayer...