If you think the CRA will turn a blind eye to TFSA, RRSP over-contributions, think again
Jamie Golombek, Financial Post
Whether you choose to save in a TFSA, an RRSP or both, it’s important to take the time to understand how the plans work as well as to keep on top of your available contribution room, lest you fall afoul of the rules and get slapped with an over-contribution penalty tax by the Canada Revenue Agency.