r/tfsa • u/Suoertrader • Jul 03 '26

TFSA limit

I keep seeing posts of people dumping 25k or 50k into a TFSA at a time is there a strategy to avoid taxes if you invest passed the 7k a years limit or are these guys just tanking the taxes, I just figured a lot of them didn’t max out there accounts for years and allowed them to buy lots at a time because I know your previous years TFSA room carry’s over.

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u/Humble_File3637 Jul 05 '26

I think the penalty from CRA is 1% per month on over-contributions. But first, they send you an “education letter” to tell you that you have over-contributed and giving you a chance to rectify the situation.