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Can I borrow to invest in a TFSA? Is the interest paid on money borrowed to make TFSA contributions tax deductible?

April 26, 2017borrow borrowed contributions deductible invest money paid tax tfsa

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Can I borrow to invest in a TFSA? Is the interest paid on money borrowed to make TFSA contributions tax deductible?

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Just as you can borrow money to make contributions to a RRSP, you can borrow to contribute to a TFSA. Again, just like RRSPs, interest paid on TFSA loans is not tax-deductible.