The Motley Fool Discussion Boards
Canadian Investing / Canada - RRSP Strat / Taxation
|Subject: Re: TFSA Question||Date: 5/15/2011 3:47 PM|
|Author: IKan||Number: 1185 of 1193|
Now back in Canada, is there anything preventing me from opening up another TFSA in the same fiscal year? Will this look odd to the CRA?
Nothing odd that I am aware of. I have read of people with more than one TFSA account.
You can open as many TFSA accounts as you like.
However, you can only contribute up to the max of $5,000 per year, once, total sum of all accounts.
One thing to be mindful of is if you contributed $5,000 in January 2011 then you cannot contribute one more penny until 2012. In 2012 you will also be able to re-contribute any moneys that you withdrew previously.
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