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If my client uses an investment loan to open a TFSA is the interest tax deductible?

April 26, 2017client deductible Investment loan tax tfsa uses

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If my client uses an investment loan to open a TFSA is the interest tax deductible?

1 Answer

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No, clients cannot deduct any interest expenses for tax purposes on funds borrowed to invest in a TFSA because the income earned inside the TFSA is non taxable.