All investment earnings and withdrawals are tax-free.
Money can be withdrawn anytime without penalties.
Unused contribution room accumulates indefinitely.
Withdrawals do not affect government benefits.
Contributions are not deductible from income.
Annual limits restrict how much can be invested.
Excess contributions are subject to fines for 1% monthly
Frequent withdrawals and reinvestments require careful tracking.
Canadian residents aged 18 or older with a valid Social Insurance Number.
It changes yearly; unused room carries forward.
No, withdrawals are completely tax-free.
Yes, in addition to your annual limit, in the following year.
No, withdrawals do not impact income-tested benefits.
A 1% per month penalty applies until corrected.
