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How do I make a TFSA withdrawal?
TFSA withdrawals can be made online using WebBroker:
Click Transfer from the top right utility bar
Select the account to make your transfer from
Select an eligible account to transfer the money to
Enter the amount you wish to transfer
Review and confirm your transaction
TFSA withdrawals can be made at any time in the calendar year (subject to any withdrawal restrictions in the investments chosen).
Please note: Any amount withdrawn from a person's TFSA is added back to the person's TFSA contribution room in the next calendar year. Re-contribution to a TFSA of any withdrawn amount in the same calendar year on a tax-free basis can only be done if existing TFSA contribution room is available. There is no tax applied to TFSA withdrawals.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails.