Can I transfer RIF to TFSA?
Excuse me, I was wondering if I could clarify something about transferring funds into a TFSA. Specifically, I'm interested in transferring RIF, or Registered Income Fund, funds into a Tax-Free Savings Account. Is this possible, and if so, what are the steps I need to take? I understand there are certain rules and regulations surrounding TFSAs and retirement funds, so I'd like to ensure I'm doing everything correctly. Thank you for your time and assistance.
What is the 30 day rule for TFSA?
Could you please explain the 30-day rule for TFSA? I've heard it mentioned a few times, but I'm not quite sure what it means or how it applies to my investments. I understand that TFSA stands for Tax-Free Savings Account, but what's the significance of the 30-day rule? And what happens if I don't follow it? Is there a penalty or does it affect my ability to contribute to my TFSA in the future? Could you provide a real-world example or scenario to illustrate how this rule works? Thank you for your help!