Hi treborjim,

Congratulations on your $14K made from ptk! Out of curiosity how come you transferred from one tax sheltered account to another? As you are aware when taking out money from the RSP before retirement (assuming that you haven't retired and apologies if it's an incorrect assumption) the money is subject to withholding tax. Also don't quote me on this but that money is now also counted as income and may be subject to tax as well.

TFSA does give you the flexibility of taking the money in and out without any tax penalty and unlike RSP, money taken out isn't counted as income. I've attached a couple of links that I found useful. In the end best speak to a tax specialist.

http://www.moneysense.ca/invest/tfsa-truth-rumours

http://www.moneysmartsblog.com/tax-free-savings-account-tfsa-refresher/