Penalty is 1%/month.
Is it worthwhile?
I think it comes down to this: if your tax savings (by having it in the TFSA) are greater than the cost of paying the 1% monthly penalty, then it's worthwhile!
Myself, from some preliminary calculations, it's definitely looking like this would be worthwhile.
Has anyone else on here done this?
Is it worthwhile?
I think it comes down to this: if your tax savings (by having it in the TFSA) are greater than the cost of paying the 1% monthly penalty, then it's worthwhile!
Myself, from some preliminary calculations, it's definitely looking like this would be worthwhile.
Has anyone else on here done this?