HomeDo You Have to Claim a TFSA on Your Income Tax Return?
Do You Have to Claim a TFSA on Your Income Tax Return?
- Office
- Scarborough, one location
- Led by
- A CPA, since 2010
- Languages
- English, Bengali, Tamil
You do not report a tax-free savings account contribution, or the interest and gains inside the account, as income on the T1. That is the point of the account. A T5 from a regular savings account is different, and that interest does go on the return, usually at line 12100.
What to bring instead
Do not bring a TFSA statement and ask for it to be deducted like an RRSP. It is not a deduction. If the CRA writes about an excess contribution, bring that letter. The firm will not invent an excess-contribution amount on this page. The letter states the figure.
Work with the Scarborough office
The only office is in Scarborough, near Kennedy Station. You can visit or send the documents. English, Bengali and Tamil are spoken. Manoranjan (Mano) Talukder, CPA, leads the firm, which has worked since 2010. Personal returns start at $49.99 + HST. Other files are quoted first.
Questions
Where is the work done?
Kennedy Tax & Accounting Inc. works from its only office in Scarborough, near Kennedy Station. You can visit, or send your documents.
How much does a simple personal return cost?
Personal tax returns start at $49.99 + HST. Anything beyond a simple personal return is quoted before the work starts.
Which languages can we use?
English, Bengali, and Tamil.
Sources
- CRA due dates for individuals. Accessed 2026-10-27.
- Ontario business registration fees. Accessed 2026-10-27.