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Video 17: How to execute your very first trade (walk through)Withdrawals are tax-free and you can make withdrawals at any time. � Withdrawn amounts can be re-contributed in later years. � Unused contribution room is. deductible for income tax purposes. However, income earned in the TFSA is not subject to income tax, and withdrawals from the TFSA (of contributions and. You can withdraw from your Tax-Free Savings Account (TFSA) at any time and for any reason, with no tax consequences.
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