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Re:Liquation of a TFSA account

Since the TFSA account is not proctected and would be liquidated by the trustee, how do they do it?
Is it like RRSP account that they have one year claw back on the contribution.
Please advise.
Thank you

Posted from: Alberta

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One Response to “Re:Liquation of a TFSA account”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You would lose the full balance of the funds in your TFSA. It isn’t like an RRSP, there is no 12 month clawback period (although there is no 12 month clawback period in Alberta).