wow did not know that about being taxed on gains on excess contributions - read everywhere on CRA website and only saw the 1% penalty issue
So what gains get taxed? your entire TFSA gains or just the gains on the excess contirbution amount - I recently added just 300$ to average down a stock than had been hammered recently - would this effect any gains from my POET stock which occupies the majority of my TFSA and were all bought before this small excess amount was added and used this month
I will of course check with my account manager and accountant as well but any insight from you guys who have dealt with this issue would be appreciated
Thanks,
-DC
