Which of the Following Is FALSE Regarding Tax Free Savings

question 4

Multiple Choice

Which of the following is FALSE regarding Tax Free Savings Accounts (TFSAs) ?

• A)There is no mandatory age by which a TFSA must be wound up.
• B)TFSA contributions are tax deductible.
• C)Any unused amounts not contributed in a year may be carried forward indefinitely to future years.
• D)Capital gains earned within TFSAs are not taxed.

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