08/25/2026
TIP OF THE WEEK
Disclaimer: I am not a financial advisor, I am a licensed mortgage broker. My financial advice is based only on personal experience, speak to a licensed financial advisor for your situation.
Did you know that the dividends or distributions from your TFSA account can be withdrawn tax free ? You can then re-invest that in your RRSP to save income taxes (if you are not topping them already).
Example
Annual dividends / distributions: $15,000
RRSP contribution: $15,000 , potential tax refund $7,500.
Use the tax refund to top off your TFSA ( max $7,000 for 2026) . Re-invest in more units / shares of ETF to get more distributions / dividends.
Do you see a compounding effect? All this with no extra monthly contributions!
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