Mike put the maximum allowed every year in his TFSA for 15 years. The account...
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Mike put the maximum allowed every year in his TFSA for 15 years. The account now has a balance of $107,900. Now he wants to start a new business and takes out $50,000. How much tax does he owe on the $50,000 if his marginal tax rate is 33%?
| a. | $1,100 | |
| b. | $6,000 | |
| c. | $0 | |
| d. | $16,500 |
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