Canada Tax Questions Answered by Experts
Hello! My name is***** you for your question. I'm reviewing it now, and will post back again shortly.
You cannot write off the the interest paid as that interest in not being used to earn income.
A TFSA is not an instrument that allows you to do anything more than earn interest in it without having to pay tax on that interest.
Does that clarify the law?
Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.
Is there anything more I can help you with at this point in time?