TFSA accounts, which of the following is true? - ing a TFSA account for your everyday banking would be a good way to avoid paying tax on the interest from your bank accoun sing your TFSA for tuition savings makes sense as long as the funds are replaced before the next term. your TFSA investment deposit grows from $5000 to $10,000 you can withdraw only the $5000 deposit tax free. sing a TFSA account to hold a cashable GIC for an emergency will mean you do not have to pay tax on the interest earned