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Are TFSA contributions tax-deductible?
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No, TFSA contributions aren't tax-deductible. Interest earned isn't taxed as income, as long as you don't contribute more than your limit.
- What happens if I contribute more than my contribution amount to a TFSA?
- When can I access my tax documents?
- What's a TFSA?
- Do my withdrawals from a TFSA affect taxes payable or income-tested benefits, such as the Canada Child Tax Credit or Old Age Security?
- Do I have to pay tax on withdrawals from my TFSA or pay withholding tax?
- If I don’t contribute into a TFSA, can I use my unused contribution room in the future?
- How much can I contribute to a TFSA per year?
- What’s my contribution room for a TFSA?
- Is there any cost for using Mobile Deposit?
- When are my deposits available?
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