The TFSA Maximizer

A new strategy is gaining traction, meant to help retirees with the tax they have to pay as they withdraw from their RRIFs.

The idea is to move the funds from the RRSP to the TFSA using their primary residence as a vehicle.

Funds from the RRSP are registered as a first mortgage at a regular mortgage rate against their home.
Funds from the TFSA are registered as a second mortgage at a higher interest rate - which is common practice with second mortgages.
As the mortgages get repaid, the funds slowly move from the RRSP to the TFSA.

For more information, please consult this article from Moneysense.