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Published: September 3, 2020

CRA has begun to aggressively audit tax free savings accounts that have large returns on the basis that the taxpayer is conducting a business in the TFSA, which is contrary to the rules.

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"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."

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