Q: Happy new year: today there was a question from a person that wanted to move “in kind” from a rif to a tfsa. What is the advantage to this move? My first thought is that a full amount of taxes would be held back when closing the rif?
Thanks
Thanks
5i Research Answer:
In kind withdrawals are taxable the same as cash. Some commissions may be saved, as opposed to selling and then buying. But there is not a significant tax advantage.