And I know it wasnt me! today I found out I had $7023 put into my tfsa.... I am officially charged 23cents a month as a intrest for my transgressions.... I filed my taxes and double checked my contrabutions and still! this will be cool i get to walk people through the process just as soon as im done living it 😆 🤣 after locking myself out of my cra account and and generally messing around trying to get back in, this week I will be calling and seeing if the over contrabutions was a wealthsimple problem or if was a tax filing problem. worse case there really is $23 extra in there.... damn! be safe everyone 😆
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24 Comments
William @bman99 · 8h
The government knows everything else about you and can tell you more about yourself than you do… yet they don’t tell you about TFSA over contributions… such a cash grab!🙄
One of the more annoying things to track as the CRA website is almost never accurate until it’s too late… 🤦♂️
Mr Financial@mr.financial · 6h
It could be a WS problem. Here's my one bad experience with filing. When I first opened up an account with them in 2020 and did an in kind transfer and added 6k to max my contributions, they double posted the contribution with the cra. I received a letter in January of 2021... One year later!!!! I had already made my 2021 contribution. I had to send a stupid formal letter with the deduction from my bank account to show it was an error on WS part, then they had to correct it. After it was corrected, the CRA rescinded their penalty and reimbursed me. I know some people think there is a 2k buffer like the RRSP, but it's not the case according to the CRA themselves.
charlie @charlienewbie · 7h
Just withdraw the overage you be charged on the months of overcontribution but it will stop when you remove
Jason SLB@jasonslbmarques · 8h
I usually over contribute by a few dollars and no issues
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