TFSA contribution limit for 2025 is $7,000 — an annual ceiling for how much you can contribute to a tax-free savings account. However, over-contributing, can cost you a tax penalty. A tax-free ...

Canadian savers now know how much extra room they’ll get in their tax-free savings accounts (TFSA) in the year to come. The TFSA is a savings vehicle that allows Canadians to make contributions ...

Tax-Free Savings Account (TFSA) users welcome the yearly expansion of their contribution limits. The government announced $500 increases in 2023 (to $6,500) and 2024 (to $7,000) to compensate for high ...

Unlike your RRSP contribution room, the contribution limit does not depend on how much income you earn. You begin accumulating TFSA contribution room from the year you turn 18 (as long as you are ...

and 2022’s limit came in at $6,000). As inflation continues, investors can expect to be able to contribute more to their TFSA over time. And the good news is that these contribution limits roll ...

Canadians can turn their TFSAs into a cash-generating machine with money equivalent to four years’ contribution limits ... 2022. Lower inflation also means a lot for Tax-Free Savings Account ...

As the year begins to wind down, it’s time to begin taking a hard look at your TFSA. Should you max out your contribution limit, or wait until next year? What if you want to take some money out ...

If we love tax-free savings so much, why are there so many TFSA orphans? There were 28.2 million TFSAs as of 2022, the most recent year for which there is data. In 14.3 million of them ...