Can a TFSA be invested in a life annuity?
Brian has been told that he can't. What are his options?
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Brian has been told that he can't. What are his options?
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Found this article because was having same question. Annuity paying $6,380/yr outside TFSA would have a huge impact on GIS. An average retiree with $9,600 CPP and no other taxable sources of income would collect an $7,900 GIS /yr, the annuity would reduce this amount by $3,200.
I presently receive monthly income from a Term Certain annuity. When I open a TFSA at the Royal Bank, can I deposit the monthly payments, taxed at the source with RBC? Thank you.
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