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New 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…

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TFSA 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…

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Proposed 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…

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High 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…

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Top 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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