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If you're a Canadian senior with a TFSA, one simple mistake could quietly trigger a devastating clawback on your OAS and GIS benefits. Thousands of retirees are unknowingly making errors that cost them hundreds or even thousands of dollars every year. The CRA is sending penalty letters, GIS payments are being reduced, and most seniors have no idea why. In this video, we reveal the critical TFSA rules every Canadian must understand to protect their retirement income and government benefits. 🇨🇦 What You'll Learn: The dangerous TFSA mistake that triggers OAS and GIS clawback How TFSA withdrawals secretly affect your benefit eligibility Why the CRA is penalizing seniors 1% per month for this common error The contribution room trap that catches thousands of Canadians How to check your exact TFSA limit before it's too late RRSP vs TFSA withdrawals and which one destroys your GIS Beneficiary vs Successor Holder mistake that costs families thousands Smart TFSA strategies to maximize your government benefits in 2025 00:00 Introduction – The Costly TFSA Mistake 01:45 How TFSA Actually Works For Seniors 04:20 Why TFSA Withdrawals Don't Count As Income 07:15 The Contribution Room Trap Explained 10:30 CRA Penalties – 1% Per Month Warning 13:45 How TFSA Affects Your GIS Benefits 16:20 OAS Clawback and TFSA Strategy 18:40 Beneficiary vs Successor Holder Mistake 20:15 How To Check Your TFSA Room With CRA 22:30 Smart TFSA Planning For Retirees 24:00 Final Warning and Key Takeaways 25:30 Subscribe For More Pension Updates 📺 Subscribe to Retire Path for weekly updates on CPP, OAS, GIS, TFSA strategies, and all federal benefits for Canadian seniors. We provide clear, accurate, and trustworthy retirement information you can count on. 🔔 Turn on notifications so you never miss urgent benefit warnings, payment updates, or clawback alerts that could affect your retirement income. #TFSA #OASClawback #GISBenefits #CanadianSeniors #RetirementCanada #CPP #OAS #GIS #TFSAMistakes #CRAPenalty #ServiceCanada #RetirePathCanada