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Discussion Starter #1
Hey all,
Apparently I forgot to add a deposit to my TFSA and now it is over the limit by about $900.
Is the 1%/month penalty rule still in, or has the 100% rule come into place???
 

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Over Contributions

If I'm maxout and I was to transfer $5000 of shares to my account, August 2nd 2011. Let say 5000 at $1 and the shares would be sold at $2 on January 3rd 2012 , would I have to pay income tax on the gain plus the 1% per month on $5000 or 1% on the $5000 over contribution.
 
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