Can a TFSA affect the Guaranteed Income Supplement (GIS) I get from the government?


Angela Iermieri | Financial Planner | Desjardins Group

No. Since TFSA withdrawals aren't taxable, they won't be added to your income. They can't affect your eligibility for federal benefits and credits based on income, such as the Working Income Tax Benefit (WITB), the Guaranteed Income Supplement (GIS) or the Goods and Services Tax credit.

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