tfsa
How Much TFSA Contribution Room Do I Have (2009-2019)?
Since the inception of the Tax-Free Savings Account (TFSA) in 2009, Canadian residents who are over the age of 18 with a social insurance number have been allowed to contribute up to the table below on annual basis. Here are the TFSA contribution limits PER year: 2009-2012: $5,000; 2013-2014: $5,500; 2015: $10,000; 2016: $5,500; 2017: $5,500; …
Read MoreNew TFSA Contribution Limit for 2015
This may be old news for those who follow Federal politics, but the Harper government has come through on their promise to raise the Tax Free Savings Account (TFSA) contribution limit. I consider the TFSA to be an extremely powerful tool for investors, perhaps even more so than an RRSP. All investment gains within the…
Read MoreIn 2013 the TFSA Contribution Limit Increases to $5500
On November 26, the Harper government announced that starting January 1, 2013 they will increase the Tax Free Savings Account (TFSA) limit by $500 to $5500. About 30% of Canadians who have a Tax Free Savings Account max out their annual contributions, so this news should be welcomed by these TFSA maximizers. This is the…
Read MoreTFSA vs RRSP – Clawbacks & Income Tax on Seniors
Ed Rempel (CFP/CMA) is back! This article will pit the new Tax Free Savings Account (TFSA) against the old school RRSP with the main focus being the potential GIS/OAS clawback during retirement. “The future ain’t what it used to be.” – Yogi Berra Tax Free Savings Accounts (TFSA’s) were just announced in the recent federal…
Read MoreProposed TFSA Changes
A reader emailed me an article regarding proposed TFSA changes made by our Finance Minister, Jim Flaherty. Before you get too concerned, there aren’t any major changes to benefits, but proposed changes to close any loop holes. Before I get too far ahead of myself, lets get back to basics. A tax free savings account…
Read MoreTax-Free Savings Account (TFSA) – How should we use it?
This is a guest post by CFP and CMA Ed Rempel on his opinion about how to appropriately use the Tax-Free Savings Account (TFSA). The only reason I need these gloves is ’cause of my hands. – Yogi Berra 2009 brings one exciting new development – TFSAs. You may have seen a bunch of news…
Read MoreHigh Interest Tax Free Savings Accounts (TFSA)
ING Direct now offers the highest interest Tax Free Saving Account (TFSA) in Canada at 3.0%. Not only is it free, they are offering a $25 bonus directly into your account when you use an “orange key” code – Note that the bonus requires a minimum deposit of $100 with the initial registration cheque. Get…
Read MoreTop 4 Tax Free Savings Account Strategies
With the upcoming tax free savings/investment account in 2009, my mind has been racing about what exactly to do with the account. Between my wife and I, we will have $10,000 worth of contribution room available to us in the first year which we intend to fully maximize. How do we intend to use the…
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