The CRA is cracking down on aggressive manipulation of TFSAs and all other registered plans | General financial discussion | Discussion forum

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The CRA is cracking down on aggressive manipulation of TFSAs and all other registered plans
October 5, 2018
12:07 pm
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From Jamie Golombek, in the National Post

The CRA is cracking down on aggressive manipulation of TFSAs and all other registered plans

You could face a 100 per cent penalty tax on the fair market value of any 'advantage' that you receive

https://business.financialpost.com/personal-finance/taxes/the-cra-is-cracking-down-on-aggressive-manipulation-of-tfsas

October 5, 2018
2:09 pm
Bill
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CRA's tactic is to tell the media they're doing something to generate self-compliance via fear. Not saying they're doing nothing but usually they're doing a small percentage of what they claim to be doing, we're dealing with unionized civil servants after all. It's also what the politicians want, they or their prominent friends don't want to be caught up in any CRA dragnet either, so everybody's happy this way. That's my (extremely cynical) view anyway.

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