tfsa

How Much TFSA Contribution Room Do I Have

How Much TFSA Contribution Room Do I Have In 2020 and What Are the TFSA Rules and Limits?

By FT / February 16, 2020 /

If you turned 18 on or before 2009, you have a ton of TFSA contribution room that you can use at any time.  Our table below gives you a quick look at the annual TFSA contribution room that would have accumulated over the years for you.  Knowing how much you can put in your TFSA…

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New TFSA Contribution Limit for 2015

By FT / May 11, 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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In 2013 the TFSA Contribution Limit Increases to $5500

By Guest Blogger / December 17, 2012 /

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…

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TFSA vs RRSP – Clawbacks & Income Tax on Seniors

By Ed Rempel / March 12, 2010 /

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

By FT / October 21, 2009 /

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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Top 4 Tax Free Savings Account Strategies

By FT / November 13, 2008 /

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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TFSA Contribution Room

By FT / November 6, 2008 /

Giorgos asked an interesting question in the Tax Free Savings Account (TFSA) thread about how the contribution room of the TFSA will be calculated if there are gains in the account.  Basically, if you invested the $5,000 maximum in the first year and luckily turned a quick profit and withdrew the money, what would would…

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