Michael has heard of some Canadians that are millionaires with their TFSA's. If that were the case and they withdrew $1 million dollars from their TFSA account, how much tax would they pay on the withdrawn funds if they were in a 53.31% marginal tax bracket?

Answer rating: 100% (QA)

In Canada withdrawals from a TaxFree Savings Account TFSA are not subject to ... View the full answer