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Email this1:08 pm
September 29, 2017
Offline
I'm sorry that you failed to understand the issue But thankfully others on this thread did get it and have supplied the necessary verification to address the scenario presented.
And it did NOT take this entire thread to get to the answer either. It was answered on the 1st page.
The fact that others chose to carry on further, either repeating some info or occasionally adding more info, has nothing to do with me.
1:10 pm
April 6, 2013
Online
Just before Cedric's example, RC4466 says
Withdrawals, excluding qualifying transfers and specified distributions, made from your TFSA in the year will only be added back to your TFSA contribution room at the beginning of the following year.
That mirrors the definition of B of A+B+C-D for calculating TFSA contribution room in the Income Tax Act:
B is the total of all amounts each of which was a distribution made in the preceding calendar year under a TFSA of which the individual was the holder at the time of the distribution, other than a distribution that is
- a qualifying transfer, or
- a specified distribution,
Both clearly indicate that TFSA withdrawals/distributions, that are not "qualifying transfers" or "specified distributions", are added to the contribution room next year period. No conditions. No limits.
I've seen nothing in the years since TFSA's were introduced, from CRA, financial institutions, or accountants that even remotely suggests that only part of a TFSA withdrawal can be added back to contribution room.
You seem to be describing a relationship between TFSA withdrawals and the annual TFSA dollar limit that is simply not there!
1:44 pm
October 29, 2017
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Norman1 is correct. There is no relation between official contribution limit and withdrawals. Keep them totally separate. Any withdrawal amount is eligible to re-contribute in the next calendar year or later and that does not affect your official contribution limit in any way.
2:20 pm
January 12, 2019
Offline
smayer97 said
.
. . . Unless I see any other evidence, it seems like mission was accomplished.
.
Dean said
.
And so it looks like . . .
.
.Dean
Apparently not ❗
Could this be the next 'Never Ending Thread' ❓
LOL 
- Dean
" Live Long, Healthy ... And Prosper! "
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