TFSA and RRSP allowance refreshes?
If in Year 1 I have a limit of 10K on my TFSA. I can put in 10K and if that grows to 12K, i can take out 12k without tax implications?
If in Year 2 my limit is 18K and I took out 12K in the above example in Year 1 does my total allowable reset to 28K (10K + 18K). Or am i only allowed 18K?
If in Year 2 my limit is 18K and I took out 12K in the above example in Year 1 does my total allowable reset to 28K (10K + 18K). Or am i only allowed 18K?