Tax Free Savings Accounts Have All the Following Characteristics Except

Tax Free Savings Accounts have all the following characteristics except

A) The contribution limit is $5,000 per annum regardless of any amounts contributed to an RRSP/RPP.
B) The $5,000 limit is indexed to the CPI and increases in multiples of $500.
C) Contributions to a TFSA are tax deductible
D) Any unused contribution room can be carried forward.
E) Amounts can be withdrawn at any time and any amounts withdrawn can be re-contributed in the same year if one still has contribution room left over.