Question: How does the Income Attribution rules affect TFSAs and spousal contributions? a) Any interest and dividends earned by the recipient spouse's TFSA will be attributed

How does the Income Attribution rules affect TFSAs and spousal contributions?

a) Any interest and dividends earned by the recipient spouse's TFSA will be attributed to the transferor spouse

b) Any capital loss realized by the recipient spouse cannot be transferred to the transferor spouse

c) The transferor spouse can contribute to the recipient spouse's TFSA without attracting the attribution rules

d) Capital gains producing investments in recipient spouse's TFSA does not have any tax implications

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The Income Attribution rules in Canada are designed to prevent income splitting between spouses by attributing certain types of income back to the tra... View full answer

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