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Posts Tagged ‘Small Business’

Starting a Small Business with Your TFSA

May 1st, 2008

Full Flexibility to Withdraw and Re-contribute

  • Bob is able to save $4,000 a year for 10 years in a TFSA.
  • After 10 years of working he comes across a business opportunity and decides to invest.
  • Bob withdraws $40,000 of his TFSA savings, tax-free.
  • Later, Bob receives a great return on his business investment and decides to re-contribute the $40,000 to his TFSA. He may do so without reducing his other available contribution room.
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