How do I withdraw from my TFSA?

Withdrawing funds from your TFSA is just as easy as adding them. You can find a step-by-step guide on withdrawing funds from your account here.

Each year, you can contribute a certain amount to your TFSA. Your contribution room is used up as funds are put into the TFSA and it doesn't change if you make withdrawals. So as long as the total of your contributions and re-contributions is not more than your yearly contribution room, you can re-contribute. But be careful, the penalties for over-contribution are steep!

Note that if you want to withdraw your RRSP, the process is a little different. Find out more about that here.

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