Question: Experts are divided on whether a TFSA or a RRSP is a better savings vehicle for retirement. Which of the following statements about TFSAs and

Experts are divided on whether a TFSA or a RRSP is a better savings vehicle for retirement. Which of the following statements about TFSAs and RRSPs is false?

A) 100% of RRSP withdrawals are taxable while 100% of TFSA withdrawals are received tax-free

B) RRSPs provide a higher cash flow at contribution because it is tax deductible while a TFSA contribution does not result in tax deduction

C) In both TFSAs and RRSPs, income earned inside the account accumulates tax free

D) Since both RRSPs and TFSAs can be used for retirement planning purposes, they both must be collapsed at the same time

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