Francisco opened a tax-free savings account (TFSA) in 2015. He contributed $3000 to the account in that
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Francisco opened a tax-free savings account (TFSA) in 2015. He contributed $3000 to the account in that year. In January 2016, Francisco withdrew $1500. At the end of 2016, he contributed another $3000 to his TFSA account. What is Francisco’s unused TFSA contribution room at the beginning of 2017? Francisco turned 18 in 2012.
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Since he turned age 18 in 2012 Francisco is eligible to contribute 5000 ...View the full answer
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