Federal Court finds repeated TFSA overcontributions after notice not a ‘reasonable error’

By Karunjit Singh ( July 29, 2025, 5:14 PM EDT) -- A Federal Court judge has declined to grant relief to a taxpayer who racked up over $70,000 in fines and penalties for repeatedly overcontributing to his tax-free savings accounts (TFSA), finding that his failure to promptly remove excess funds despite repeated Canada Revenue Agency (CRA) notices was not a reasonable error....
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